Accounting and Financial Software
Software offers online funds transfer for small businesses.
Share:
Press Release Summary:
Part of TransferNow(TM) for Small Business Product Suite, Small Business Me-to-Me Transfers enables financial institutions to offer secure inter-institution funds transfer services to small business customers. Product provides automated identity authentication and funding account verification processes that satisfy business, risk, and compliance requirements. Business owners can choose between next-day funds transfer and one-time, recurring, and future-dated transfers.
Original Press Release:
CashEdge Launches Me-to-Me Transfers for Small Businesses
Company Expands TransferNow(TM) for Small Businesses Product Suite for Financial Institutions
NEW YORK, Oct. 27 /-- CashEdge, Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement(TM) services for financial institutions, announced today 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. The product was introduced today at the 13th Annual Small Business Banking Conference in San Diego, CA.
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 www.cashedge.com.
About CashEdge
CashEdge is the leader in Intelligent Money Movement(TM) services that enable financial institutions to engage customers in new ways. CashEdge's Intelligent Money Movement services provide a single point of access for multiple easy-to-use consumer and small business transfer routes including new account funding, me-to-me transfers, third-party transfers, and small business payments, invoicing and transfers. These transfer routes are supported by industry-leading risk management capabilities that leverage comprehensive, proprietary technology, helping institutions mitigate risk and decrease fraud exposure.
The Company currently serves hundreds of leading financial institutions, including 23 of the top 100 banks. CashEdge has offices in New York, Silicon Valley and India. For more information, visit www.cashedge.com.
