CashEdge Partners with Canopy Financial to Offer World-class Account Management Capabilities
Enhanced Platform Aimed at Financial Institutions Seeking a Healthcare Account Technology Solution
New York, NY & Chicago, IL – November 6, 2006 —CashEdge Inc. (www.cashedge.com), the pioneer behind opening and funding accounts online, and Canopy Financial, the leading provider of financial technologies that power consumer-driven healthcare, announced a strategic partnership today that provides financial institutions with the infrastructure needed to address the unique complexities associated with originating and managing healthcare related financial accounts.
"CashEdge's market-leading products play an important role in helping financial institutions automate account origination processes," said Vik Kashyap, Chairman & Founder of Canopy Financial. "Through this partnership, financial institutions have the ability to extend their capabilities to profitably open, fund, and manage healthcare-related financial accounts entirely online."
"We are pleased to partner with Canopy Financial in this collaboration of healthcare and financial services technologies," stated Sanjeev Dheer, chief executive officer of CashEdge. "As the market leader, CashEdge is always looking for opportunities to broaden our reach and deliver our cutting-edge technology solutions to such exciting new markets as consumer-driven healthcare."
Canopy Financial processes a consumer-driven healthcare financial transaction every 14 seconds and CashEdge's platform is currently used in more than 500 institutions including five of the top 10 banks and seven of the top 50 credit unions.
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
About Canopy Financial
Canopy Financial provides innovative technology solutions that address the convergence of healthcare and financial services. Serving a diverse range of healthcare, financial services, and technology clients, Canopy empowers the development and delivery of branded, best-in-class consumer-driven healthcare products and services through its market-leading offerings, including HealthDirectSM, HealthDirect InvestmentsSM, HealthDirect Bill PaySM, CardLinkSM, HSA MarketplaceSM, and HealthScoreSM. Canopy syndicates its Health Savings Account thought leadership and domain expertise through its portal HSA Insider (www.hsainsider.com), a leading online resource regarding Health Savings Accounts. Canopy maintains offices in Chicago and New York. For more information, please visit our web site at www.canopyfi.com or call 1-866-960-4700.