CashEdge

Bank Outsourcing for Online Transactions Grows in 2005 According to CashEdge

Company signs 160 new clients for outsourced financial transaction services Banks and credit unions value ease and security of CashEdge solutions

NEW YORK, NY & SAN JOSE, CA -December 19, 2005 —CashEdge, the leading provider of online financial applications, today announced that it signed more than 160 new banks and credit unions to its client list during the 2005 calendar year. That brings the total number of financial institutions using CashEdge's online financial applications to more than 450. CashEdge products include account opening, account funding and funds transfer solutions, among others. The company also introduced a suite of products for small business banking in October.

"We are very excited about the trend that we see among financial institutions, both large and small, using an outsourced model for online transactions, " said Sanjeev Dheer, CEO of CashEdge. "Given the efficiency of our implementations and our ability to assume high levels of risk associated with online transactions, it is no longer practical for financial institutions to build this capability internally."

CashEdge sells directly to financial institutions as well as through a network of distributors. CashEdge's products help financial institutions leverage their online channel and provide better customer service, while increasing revenues and assets.

"CashEdge's products fill financial institutions' needs for making the most of the online channel," said Gwenn Bezard, Research Director at Aite Group. "The growth they are seeing is indicative of growing market demand among financial institutions for empowering consumers with advanced online transactional services."

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.

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Jennifer Moritz
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