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FAQs

Corporate

• Who are CashEdge’s clients?
  
  CashEdge serves more than 600 financial institutions, including:
   
  • 5 of the top 10 banks
  • 5 of the top 25 credit unions
  • 4 of the top 10 online brokerages
  • More than 10 top-tier wealth management firms spanning different segments of the industry
     
• How many financial institutions can CashEdge access as part of its funds transfer and online account opening and funding services?
  
  CashEdge uses the ACH network to move money.  Through the ACH network CashEdge has access to more than 23,000 financial institutions.
   
• How many institutions are available for data and account consolidation?
  
  More than 10,000. This is the largest network for data and account consolidation.
   
• What are the benefits of using CashEdge versus building the technology in-house?
  
  Most people cite cost and time-to-market as the primary reason to outsource. In addition, CashEdge offers unrivaled experience delivering end-to-end technology solutions supported by extensive risk management and assumption capabilities.  CashEdge’s cost-effective solutions are implemented quickly and easily, while eliminating any associated risk for your institution.
   

Product

• Are online transactions risky for my financial institution?
  
  CashEdge is the only provider of online funds transfer solutions that offers ongoing risk management and risk assumption. Our experience and expertise is unparalleled, leading to the development of the most advanced and secure risk management and assumption available.
   
  
• Will customers pay fees to transfer funds online?
  
  Yes. Most institutions charge a fee between $1.50 and $10.00 for outbound transactions. Customers are willing to pay this fee because it is less than a typical wire transfer, and more convenient than other options.
   
• I work with a mid-sized financial institution. Is the CashEdge implementation efficient and cost-effective for the mid-sized market?
  
  Yes. CashEdge serves more than 300 mid-sized clients that benefit from the same technology as large institutions, but at an affordable price. CashEdge solutions are specifically designed to be easy-to-implement, requiring minimal customization to reflect the look and feel of each client’s  existing online environment.
   
• Are CashEdge products available for trial?
  
  Yes. There are demo versions of TransferNow, AggregateNow and AllData/FA on the Trial Versions page of our website. Please send an e-mail to sales@cashedge.com if you would like to discuss our products and services.
  

Technology

• How does CashEdge process transactions?
  
  All CashEdge transactions are processed through the ACH network, and are settled with ‘good funds’ or next day availability.
   
• How does CashEdge offer single-session account opening and funding, when our current model takes up to 30 days?
  
  CashEdge’s OpenNow/FundNow solution offers instant ID verification, account verification and new account funding capabilities. These capabilities are backed by deep risk management capabilities. With an industry-leading technology platform and risk management, CashEdge automates the account approval process and streamlines funding into one easy step.
   
• My financial institution is very large and we have very specific technology needs.  Is CashEdge able to customize its products to lock into our system and reflect our user interface?
  
  Every CashEdge application has a complete XML API, which means that any part of the solution can be customized to meet your needs. The XML API ensures that our functionality integrates seamlessly with your application.
   
• Our institution has very specific guidelines for customers and risk tolerance; will we be able to implement them within the CashEdge system?
  
  Yes. All CashEdge solutions can be customized to integrate your institution’s rules.
   
• What is CashEdge’s track record for providing online account opening and funding for major institutions?
  
  CashEdge is the pioneer behind opening and funding accounts online.  According to Online Banking Report’s NetBanker blog, Nov. 2006, “CashEdge is a great example of a specialist that carves out a profitable niche in a relatively narrow, but risky area of online operations, new account funding.  Thanks to big clients such as Citibank, the company is leading the market in online account openings this year.”