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Press Releases

CashEdge Account Opening Solution Leveraged by Thrivent Financial Bank to Launch HSA Offering

Industry's Largest Provider of Funds Transfers and Online Account Opening & Funding Supports Health Savings Account Solution

New York, NY, September 12, 2006
CashEdge, Inc. (www.cashedge.com), the pre-eminent provider of online funds transfers and the pioneer behind opening and funding accounts online, has been selected by Thrivent Financial Bank to support the opening and funding of their Health Savings Account product.

Thrivent Financial Bank's HSA Solution leverages CashEdge's secure technology platform, which is currently used in more than 450 institutions including six of the top 10 banks and seven of the top 50 credit unions.

"We plan to leverage the same CashEdge technology we already rely on to support our new HSA offering," said Stacey Koehler, assistant vice president with Thrivent Financial Bank. "HSAs present a tremendous opportunity and Thrivent Financial Bank will deliver an efficient, competitive solution for streamlining the opening and processing of new health savings accounts."

According to Tower Group, the HSA revenue opportunity for financial institutions will reach $308 million a year by 2010. Moreover, the PNC Financial Services Group e-Health Study found that 40% of insurance executives said their organizations could save between $1 million and $10 million a year by improving their billing and payment systems. As financial institutions respond to this demand, CashEdge's solutions for opening and funding new accounts and executing funds transfers will provide the requisite technology for powering online HSA financial administration tools.

"CashEdge has more experience conducting secure online funds transfers, and opening and funding new accounts online than any company in the industry," stated Sanjeev Dheer, chief executive officer of CashEdge. "This use of our applications by Thrivent Financial Bank is a natural extension of the technology solutions and expertise that make CashEdge such an attractive partner for financial institutions striving to deliver the most advanced online financial services."

About CashEdge

CashEdge^® provides innovative, online financial applications for banks, credit unions and wealth management firms. CashEdge's solutions include end-to-end online account opening and funding, funds transfer and data consolidation. These proven solutions are flexible, scalable and supported by extensive risk management capabilities. Working with CashEdge, financial institutions are able to create compelling online offerings that attract customers, generate revenues and reduce costs.

Recognized by Inc. magazine as one of the 500 fastest growing private companies in the United States, CashEdge currently serves more than 500 leading financial institutions. These include Bank of America, Citibank, and Royal Bank of Canada. CashEdge has offices in New York and Silicon Valley. For more information, please visit www.cashedge.com.

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