NEW YORK, April 25, 2005 (PRIMEZONE) -- CashEdge, Inc. (www.cashedge.com), the leading provider of online financial applications, has been selected by Harrisdirect (www.harrisdirect.com), a leading provider of direct investing services, to deliver inter-institution funds transfers for their brokerage clients. CashEdge's TransferNow solution has been rolled out to all Harrisdirect clients for online deposits and withdrawals.
TransferNow enables Harrisdirect clients to securely transfer money to or from accounts at more than 23,000 banks and brokerages. Supported by CashEdge's comprehensive risk management capabilities, TransferNow automates the authentication of the account, and moves funds in a risk-managed fashion via multiple payment networks.
"Harrisdirect is dedicated to providing clients with a reliable, efficient, and secure solution," says Maryann Wasik, Managing Director and head of product development for Harrisdirect. "In speeding and simplifying our clients' online deposits and withdrawals, CashEdge's TranferNow application enhances our unparalleled platform of tools, technology, analytics and research."
"Our selection by Harrisdirect is a tremendous endorsement of our service," stated Sanjeev Dheer, chief executive officer of CashEdge. "Inter-institution funds transfer is rapidly becoming a necessary service for online banking and brokerage. Among the brokerage institutions, we are witnessing a strong demand to upgrade their current funds transfer services to a more user-friendly and robust solution. Harrisdirect is one of the first among a group of progressive brokerage clients that are implementing our solution."
TransferNow is available for financial institutions as a stand-alone solution or as part of CashEdge's comprehensive Bank and Credit Union Suites.
About CashEdge
CashEdge(r) 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. With CashEdge, financial institutions are able to create compelling online offerings that attract customers, generate revenues and reduce costs.
CashEdge serves over 200 financial institutions in North America, including such leading institutions as Bank of America, Citibank, Harrisdirect, Royal Bank of Canada and The Vanguard Group. CashEdge has offices in New York and Silicon Valley. For more information, please visit our Web site at www.cashedge.com.
About Harrisdirect
Harrisdirect is a leading provider of direct investing and investment advisory services to informed investors with long-term financial goals as well as third-party brokerage services to institutional clients and is part of Harris, an integrated financial service organization that provides more than 1.5 million personal, business, corporate and institutional clients with banking, lending, investing, financial planning, trust administration, portfolio management, family office and wealth transfer services. Harris is a member of BMO Financial Group (NYSE:BMO) (TSX:BMO). For more information, please visit www.theharris.com.
Harris is a trademark used by various financial service providers in the BMO Financial Group, a marketing name used by Bank of Montreal. Banking products and services are provided by Harris Trust and Savings Bank, The Harris Bank N.A. and its bank affiliates. Members FDIC. Insurance and annuities are offered through Harris Bancorp Insurance Services, Inc (HBIS). Securities are provided by Harris Nesbitt Corp (HNC), a registered broker dealer, member NYSE, NASD and SIPC and Harrisdirect LLC, a registered broker dealer, member NASD and SIPC. HBIS, HNC and Harrisdirect are wholly owned subsidiaries of Harris Financial Corp. Products offered by HBIS, HNC and Harrisdirect are Not Insured by the FDIC or any Federal Government Agency, Not a Deposit of or Guaranteed by Any Bank or Bank Affiliate, May Lose Value. The purchase of insurance or an annuity is not a condition on any bank loan or service. Financial planning and investment advisory services are provided by Sullivan, Bruyette, Speros & Blayney, Inc., an SEC registered investment advisor. Family office services are provided by Harris myCFO, Inc. Investment advisory services are also offered by Harris myCFO Investment Advisory Services LLC, an SEC registered investment advisor and a wholly-owned subsidiary of Harris myCFO, Inc. Not all products and services are offered in every state and/or location.