CashEdge enables financial institutions to provide a single point of access for multiple consumer and small business transfer capabilities such as account funding, me-to-me transfers, third-party transfers, person-to-person payments and small business payments and invoicing.
CashEdge has provided online funds transfer services to financial institutions for nearly ten years and, today, provides its Intelligent Money Movement services to hundreds of financial institutions, including the majority of the nation’s largest banks. The company gathered more than $4.5 Billion in new assets for financial institution clients through its account opening and funding products and processed nearly $50 billion in online funds transfers in 2008. CashEdge’s Intelligent Money Movement Platform uses a combination of proprietary software, payment processing, and risk management capabilities.
CashEdge also provides aggregation services to the brokerage and wealth management industry. CashEdge’s account aggregation service, AllData, provides brokerages, wealth management firms and financial advisors with access to a holistic view of a client’s financial portfolio , facilitating better financial guidance and asset allocation and enabling the opportunity to increase assets under management.
CashEdge products are delivered in a Software as a Service (SaaS) model. This enables CashEdge to provide its money movement applications to its clients as a hosted solution via the internet, eliminating the need for clients to install and run the application on their own computers. This model ensures that CashEdge clients do not bear the burdens of software maintenance, ongoing operation, or support.
The company was founded by Sanjeev Dheer in 1999 and is funded by leading venture capital firms. CashEdge employs more than 300 people worldwide and has offices located in New York City, Silicon Valley, Chennai and Mumbai, India.