Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
CashEdge
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.
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