Showing posts with label CashEdge. Show all posts
Showing posts with label CashEdge. Show all posts

CashEdge Signs Boeing Employee Credit Union to P2P Platform







Boeing Employees' Credit Union (BECU), the largest credit union in Washington and one of the top five financial cooperatives in the United States, has launched CashEdge's person-to-person (P2P) payments service, Popmoney™. Popmoney is an email and mobile person-to-person payments service that allows bank customers to send money directly from their online or mobile banking service, using the recipient's email, mobile number or bank account information.





CashEdge, Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement™ services, announced today that Boeing Employees' Credit Union (BECU), the largest credit union inWashington and one of the top five financial cooperatives in the United States, has launched CashEdge's person-to-person (P2P) payments service, Popmoney™, to its members.  BECU, which has over 600,000 members, began offering Popmoney on March 20 through its website www.becu.org.

Popmoney is the first email and mobile person-to-person payments service that allows credit union members and bank customers to send money directly from their online or mobile banking service, simply using the recipient's email, mobile number or bank account information. Popmoney provides support for text messaging, WAP and downloadable mobile applications, enabling financial institutions to extend their P2P functionality to mobile phones.
"We are excited to be the first credit union in the country to offer this service.  At BECU we strive to make banking as easy and convenient as possible for our members.  That means offering services that allow them to bank wherever and whenever they want," said Howie Wu, Vice President of Virtual Banking, BECU. "Popmoney helps us meet that goal by extending the reach of our online and mobile banking capabilities to include person-to-person payments – a simple, secure and convenient way for our members to send money directly from their BECU account to anyone for free."
"BECU is a great partner," said Neil Platt, Senior Vice President and General Manager, US Banking, CashEdge Inc. "They understand the importance of bringing innovation and service to their clients, and they've demonstrated that understanding by being industry leaders in delivering Popmoney.  We expect that Popmoney will help drive acquisition and client engagement – creating new revenue streams for them."
Popmoney leverages the proven reliability, security and strength of CashEdge's money movement platform, which in 2008 processed nearly $50 billion in funds transfers for bank customers. For current CashEdge clients, Popmoney is a simple upgrade of their existing TransferNow service.
To learn more about CashEdge's Intelligent Money Movement Services, visit www.cashedge.com.
About BECU
Governed by a volunteer Board of Directors, BECU is a not-for-profit credit union owned by the members. Profits are returned to the members in the form of better rates and fewer fees. With more than 600,000 members and more than $8.6 billion in assets, BECU is the largest credit union in Washington and one of the top five financial cooperatives in the country. BECU currently operates over 40 locations in the Puget Sound region. All Washington state residents and students attending Washington colleges and universities are eligible to join.
About CashEdge
CashEdge is a leading provider of Intelligent Money Movement™ solutions for financial institutions, including mobile and online person-to-person (P2P) payments, account transfers, account opening and funding, small business applications and financial account aggregation. The Company's clients include hundreds of leading financial institutions, including seven of the ten largest banks in the country, for which they move more than $50B every year. CashEdge's newest offering, Popmoney™, is a bank-enabled P2P service that is live at leading banks in the U.S.
CashEdge's industry-leading products include Popmoney™ for person-to-person payments; OpenNow®/FundNow® for new account opening and funding; TransferNow® for Consumers, which includes Me-to-Me and Third Party Transfers; and TransferNow® for Small Businesses, which includes Invoicing, Me-to-Me Transfers, Employee Payments and Vendor Payments. All CashEdge products are supported by industry-leading risk management capabilities that leverage proprietary technology to help financial institutions mitigate risk and decrease fraud exposure.
The Company is headquartered in New York with offices in Silicon Valley and India. For more information, visitwww.cashedge.com.
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Posted by John B. Frank Wednesday, March 24, 2010 0 comments

CashEdge Signs Boeing Employee Credit Union to P2P Platform







Boeing Employees' Credit Union (BECU), the largest credit union in Washington and one of the top five financial cooperatives in the United States, has launched CashEdge's person-to-person (P2P) payments service, Popmoney™. Popmoney is an email and mobile person-to-person payments service that allows bank customers to send money directly from their online or mobile banking service, using the recipient's email, mobile number or bank account information.





CashEdge, Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement™ services, announced today that Boeing Employees' Credit Union (BECU), the largest credit union inWashington and one of the top five financial cooperatives in the United States, has launched CashEdge's person-to-person (P2P) payments service, Popmoney™, to its members.  BECU, which has over 600,000 members, began offering Popmoney on March 20 through its website www.becu.org.

Popmoney is the first email and mobile person-to-person payments service that allows credit union members and bank customers to send money directly from their online or mobile banking service, simply using the recipient's email, mobile number or bank account information. Popmoney provides support for text messaging, WAP and downloadable mobile applications, enabling financial institutions to extend their P2P functionality to mobile phones.
"We are excited to be the first credit union in the country to offer this service.  At BECU we strive to make banking as easy and convenient as possible for our members.  That means offering services that allow them to bank wherever and whenever they want," said Howie Wu, Vice President of Virtual Banking, BECU. "Popmoney helps us meet that goal by extending the reach of our online and mobile banking capabilities to include person-to-person payments – a simple, secure and convenient way for our members to send money directly from their BECU account to anyone for free."
"BECU is a great partner," said Neil Platt, Senior Vice President and General Manager, US Banking, CashEdge Inc. "They understand the importance of bringing innovation and service to their clients, and they've demonstrated that understanding by being industry leaders in delivering Popmoney.  We expect that Popmoney will help drive acquisition and client engagement – creating new revenue streams for them."
Popmoney leverages the proven reliability, security and strength of CashEdge's money movement platform, which in 2008 processed nearly $50 billion in funds transfers for bank customers. For current CashEdge clients, Popmoney is a simple upgrade of their existing TransferNow service.
To learn more about CashEdge's Intelligent Money Movement Services, visit www.cashedge.com.
About BECU
Governed by a volunteer Board of Directors, BECU is a not-for-profit credit union owned by the members. Profits are returned to the members in the form of better rates and fewer fees. With more than 600,000 members and more than $8.6 billion in assets, BECU is the largest credit union in Washington and one of the top five financial cooperatives in the country. BECU currently operates over 40 locations in the Puget Sound region. All Washington state residents and students attending Washington colleges and universities are eligible to join.
About CashEdge
CashEdge is a leading provider of Intelligent Money Movement™ solutions for financial institutions, including mobile and online person-to-person (P2P) payments, account transfers, account opening and funding, small business applications and financial account aggregation. The Company's clients include hundreds of leading financial institutions, including seven of the ten largest banks in the country, for which they move more than $50B every year. CashEdge's newest offering, Popmoney™, is a bank-enabled P2P service that is live at leading banks in the U.S.
CashEdge's industry-leading products include Popmoney™ for person-to-person payments; OpenNow®/FundNow® for new account opening and funding; TransferNow® for Consumers, which includes Me-to-Me and Third Party Transfers; and TransferNow® for Small Businesses, which includes Invoicing, Me-to-Me Transfers, Employee Payments and Vendor Payments. All CashEdge products are supported by industry-leading risk management capabilities that leverage proprietary technology to help financial institutions mitigate risk and decrease fraud exposure.
The Company is headquartered in New York with offices in Silicon Valley and India. For more information, visitwww.cashedge.com.
Read The Whole Story

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CashEdge's Risk Management Services Prevent More than $139 Million in Client Fraud Losses in 2009

Hundreds of Financial Institutions Benefit from Industry-leading Risk Management Services

NEW YORK, March 12 /PRNewswire/ -- CashEdge Inc. (www.cashedge.com), the leader in Intelligent Money Movement™, announced today that the Company successfully prevented more than $139 million in client fraud losses through its comprehensive risk management services in 2009. The fraud losses prevented reflect the dollar value of potentially fraudulent transactions detected and prevented by CashEdge's risk monitoring services. Last year CashEdge moved almost $50B for partner financial institutions.



CashEdge's risk management uses proprietary technology and the insights gathered from managing risk for the world's largest financial institutions, to help its clients mitigate risk and decrease fraud exposure.



"As predicted, in 2009 we clearly saw a rapid evolution in online fraud," said Amir Sunderji, Senior Vice President and Chief Risk & Payments Officer at CashEdge. "New threats have emerged and fraudsters have become more sophisticated in their approach, making it imperative for financial institutions to have risk management processes and systems in place to monitor and adapt to such threats."



As adoption of online banking, including online account opening and funding and online funds transfers, has risen, so, too, has the associated fraud risk, especially in light of data breaches, which increased 55 percent from 2006 to 2009, as reported by Identity Theft Resource Center. This translates into increased pressure on financial institutions to act and to improve risk management.



"CashEdge's clients and their customers have enjoyed better protection than banks that do not have access to our sophisticated risk management tools," Sunderji added. "With forward deployment of our risk evaluation and mitigation strategy, transactions are stopped even before they are released into the network."



CashEdge's approach to risk monitoring, identification, detection, fraud prevention, and mitigation combines human intelligence with automation that focuses on critical points in the life cycle of a customer, account and transaction, individually and collectively. Through this process, CashEdge provides the most sophisticated risk management in the industry.



All of the Company's Intelligent Money Movement services, including Popmoney™, its new person-to-person payments service, are supported by CashEdge's risk management capabilities. CashEdge services are currently used at hundreds of financial institutions in the U.S., including seven of the top ten banks.



To learn more about CashEdge's Intelligent Money Movement Services, visit www.cashedge.com.



About CashEdge



CashEdge is a leading provider of Intelligent Money Movement™ solutions for financial institutions, including mobile and online person-to-person (P2P) payments, account transfers, account opening and funding, small business applications and financial account aggregation. The Company's clients include hundreds of leading financial institutions, including seven of the ten largest banks in the country, for which they move more than $50B every year. CashEdge's newest offering, Popmoney™, is a bank-enabled P2P service that is live at leading banks in the U.S.



CashEdge's industry-leading products include Popmoney™ for person-to-person payments; OpenNow®/FundNow® for new account opening and funding; TransferNow® for Consumers, which includes Me-to-Me and Third Party Transfers; and TransferNow® for Small Businesses, which includes Invoicing, Me-to-Me Transfers, Employee Payments and Vendor Payments. All CashEdge products are supported by industry-leading risk management capabilities that leverage proprietary technology to help financial institutions mitigate risk and decrease fraud exposure.



The above contains statements that are based on subjective views, opinions or beliefs of the management. The data provided herein is based solely on CashEdge's solutions and does not relate to any specific financial institution or client or the industry.



The Company is headquartered in New York with offices in Silicon Valley and India. For more information, visit www.cashedge.com.



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Posted by John B. Frank Friday, March 12, 2010 0 comments

CashEdge Introduces "Me to Me" Transfers

CashEdge has announced the launch of Small Business Me-to-Me Transfers, an online funds transfer product designed specifically to help financial institutions meet the needs of small businesses.

Small Business Me-to-Me Transfers, part of the TransferNow(TM) for Small Businesses Product Suite, enables financial institutions to offer secure inter-institution funds transfer services to their small business customers. This allows financial institutions to enhance their online offering to small businesses, improve customer satisfaction and generate incremental revenue streams. The product provides automated identity authentication and funding account verification processes that satisfy all business, risk and compliance requirements, enabling small business customers to safely transfer money between their accounts held at over 23,000 banks, brokerages and credit unions via the ACH network.

Small Business Me-to-Me Transfers leverages the Company's industry leading funds transfer platform, TransferNow, which has been adopted by more than 600 financial institutions and processed more than $38 Billion in online funds transfers in 2007. It is a direct extension of CashEdge's flagship retail banking product, Consumer Me-to-Me Transfers, which has been available to consumers for more than eight years and is currently used by five of the nation's top ten financial institutions.

"Today, more than 60 percent of small businesses bank online, and these business owners are looking for online capabilities that provide greater control over their cash management activities," said Sanjeev Dheer, CEO and President of CashEdge. "CashEdge has successfully leveraged its online funds transfer expertise to create a product that enables financial institutions to better serve this traditionally underserved market segment. Me-to-Me Transfers enables small businesses to seamlessly move money between business and personal accounts - providing greater flexibility and improved cash management. Financial institutions that offer small business customers these types of services are able to grow their customer base and generate new fee revenue through an extremely profitable service."

Small Business Me-to-Me Transfers enables small business owners to choose between different transfer options. These include next-day funds transfers for urgent cash flow needs and one-time, recurring and future-dated transfers - for improved overall cash flow management.

This product is one of several stand-alone modules that make up the TransferNow for Small Businesses Product Suite. The TransferNow for Small Businesses Product Suite also includes an Invoicing and Payments module, which enables small business to send electronic invoices and receive electronic payments from customers, and Employee Payments and Vendor Payments modules, which enable direct electronic payments to these third parties. All of these modules are designed to help small businesses better manage their cash flow activities.

To learn more about CashEdge's Small Business Me-to-Me Transfers, visit http://www.cashedge.com.

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Posted by John B. Frank Monday, October 27, 2008 0 comments

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