CashEdge

CashEdge Expands Functionality of Inter-Institution Funds Transfer

TransferNow 2.0 offers third party, scheduled and recurring transfers Inter-institution funds transfer becoming a "must have" for financial institutions

New York, NY - March 16, 2005 —CashEdge, the leading provider of online financial applications, today announced the launch of TransferNow 2.0, the expanded and updated release of its inter-institution funds transfer product. New functionality includes online funds transfer to accounts owned by other people, as well as future-dated and recurring transfers. TransferNow 2.0 also features new automatic account ownership verification. CashEdge is the only company to offer these features.

"TransferNow has been extremely well received by the financial community and we expect the 2.0 version to enhance further user satisfaction and adoption rates. CashEdge is committed to providing the greatest value to our clients by continually advancing our technology and enhancing our risk management capabilities. We are very pleased to roll-out this latest round of innovations," stated Sanjeev Dheer, CEO of CashEdge. "By offering automatic account ownership verification, as well as third party, scheduled and recurring transfers, TransferNow 2.0 takes the customer experience to the next level. The enhanced capabilities of TransferNow 2.0 will allow, for instance, parents to easily transfer a set amount to a child at college, or schedule automatic deposits into an investment account every month. With the rapid adoption of inter-institution funds transfer, the ability to transfer money to other people, to make recurring transfers and to schedule transfers for future dates is a logical evolution."

TransferNow, the industry's leading inter-institution funds transfer product, is used by more than 200 financial institutions across the nation. With TransferNow, a financial institution's customers can transfer money between accounts held at any of more than 23,000 banks, credit unions and brokerages. TransferNow automates the authentication of the user and the accounts, manages risk and moves funds, without exposing the financial institution to any transaction risks.

TransferNow is available in tailored versions for banks, credit unions and other financial institutions as a stand-alone application or as part of CashEdge's comprehensive Bank Suite, Credit Union Suite and Wealth Management Suite.

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
917-748-4006
jmoritz@0to5.com

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