CashEdge

CashEdge Announces Milestone: List of Financial Institution Clients Tops 175

Company Achieves 100% Year-over-Year Growth and Profitability

New York, NY - October 20, 2004 —CashEdge Inc. (www.cashedge.com), the only financial application provider that delivers complete suites of integrated online banking, credit union and wealth management solutions, today announced that it has over 175 Financial Institutions utilizing its applications, a key milestone for the company. This adoption of CashEdge’s solutions has resulted in more than 100% year-over-year growth in revenues from 2003 to 2004, allowing the company to achieve profitability.

“The past year has been tremendous for CashEdge with rapid client acquisition and product innovation,” stated Sanjeev Dheer, chief executive officer of CashEdge. “Our technology is now implemented by over 175 financial institutions, including three of the top ten banks and two of the top ten brokerages in the United States, as well as several top-tier credit unions and regional banks. We are excited about 2005 and anticipate an aggressive growth trajectory as we introduce a number of new product lines and augment existing offerings.

“CashEdge’s growth is a function of the increasing maturity of online banking, the diversity of our product lines and the strength of our partnership network. We take pride in the fact that we are entrusted with a growing array of online applications for our clients, resulting in multiple-product relationships with many institutions,” concluded Dheer.

In addition, CashEdge also completed an internal round of financing earlier in the year. This latest infusion of capital will be used to continue and accelerate the expansion and proliferation of CashEdge’s end-to-end online account opening and funding, online money movement and aggregation capabilities, which enable financial institutions to profit from their online channel and more effectively serve clients.

About CashEdge

CashEdge^® provides innovative, online financial applications to banks, credit unions and wealth management firms. CashEdge's solutions include end-to-end online account opening and funding, funds transfer, small business payments and invoicing, and data consolidation. These proven solutions are flexible, scalable and supported by extensive risk management capabilities.

CashEdge has been ranked by Inc. Magazine as one of the 500 fastest growing private companies in the United States for two years in a row. In 2007 it was also recognized by the 2007 Deloitte Technology Fast 500 and Fast 50 as one of the nation's 500 fastest growing private companies and one of the 50 fastest growing companies in the New York area, respectively. The company currently serves hundreds of leading financial institutions including four of the top five banks, 23 of the top 100 banks, and 20 of the top 100 credit unions. CashEdge has offices in New York, Silicon Valley and India. For more information, please visit www.cashedge.com.

Contact:
Jennifer Moritz
Zer0 to 5ive
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