NEW YORK and PORTLAND, Ore., Sept. 21, 2005 (PRIMEZONE) -- CashEdge, (www.cashedge.com) the leading provider of online financial applications, and Corillian Corp. (Nasdaq:CORI), the top provider of online banking, bill payment and anti-fraud solutions for leading financial institutions, today announced the addition of Mission Federal Credit Union to the group of companies served by their strategic partnership.
As part of their agreement, Corillian integrates CashEdge's TransferNow, and EZSendNow services into the industry-leading Corillian Voyager Internet banking platform. Mission Fed, one of San Diego's premier financial institutions with more than $1.9 billion in assets, is the latest in a series of companies to deliver these integrated online payment capabilities to its members.
"Member relationships are critical to our credit union's success," said Gary Devan, senior vice president of Information Systems at Mission Fed. "The combined capabilities of Corillian and CashEdge empower Mission Fed to offer services that will greatly enhance the online capabilities the credit union offers our members. These solutions facilitate an unparalleled level of service and efficiency to our members, allowing them to utilize their Mission Fed accounts as the hubs of their financial lives."
"Our partnership with CashEdge enables us to deliver enhanced value to our growing customer base through CashEdge's innovative online services," said Alex Hart, president and CEO of Corillian. "We are pleased to expand our relationship with Mission Federal Credit Union and look forward to other opportunities in the market together with CashEdge."
Corillian and CashEdge first entered into a strategic partnership in 2002 to offer CashEdge's Advanced Account Aggregation platform as part of the Corillian Register application on the Corillian Voyager platform. In 2003, the relationship was enhanced to deliver a complete set of secure online payment options including single-session new account opening and funding, inter-institution money transfer, and "EZSendNow" email payments, all through an innovative and enhanced user interface.
"CashEdge and Corillian continue to deliver cutting edge solutions through our combined technology," said Sanjeev Dheer, CEO of CashEdge. "We are very excited about the new partnership with Mission Fed and the ongoing success of our relationship with Corillian evidenced by the numerous financial institutions our two companies serve."
About Corillian Corporation
Corillian is the market leader of online banking, bill payment and fraud prevention applications to leading financial institutions. With eight of the top 10 U.S. banks and 20 of the top 100 credit unions as customers, Corillian serves over 25 percent of the online banking community. Corillian's fraud prevention solutions use Preemptive Forensics(tm) to protect web sites from phishers, hackers, and fraudsters. Corillian's strong authentication solution provides a low-cost solution for multi-factor authentication while maintaining high user satisfaction. Corillian provides the most flexible, scalable and secure set of online banking applications across multiple lines of business, integrating best-practice functionality developed for some of the most innovative financial institutions in the world. Corillian features integrated applications across Consumer Banking, Small Business Banking, Wealth Management, Credit Card Management, and Corporate Cash Management, as well as enterprise wide solutions, including Fraud Detection, Payments Warehouse, Alerts, eStatements, and OFX. Empowered by Corillian solutions, some of the world's most visionary financial institutions provide their customers with the tools to manage their finances more effectively and securely. For more information about Corillian Corporation, visit the company's Web site at http://www.corillian.com.
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 Mission Federal Credit Union
Mission Federal Credit Union is one of San Diego's premier lending and financial institutions, with more than $1.9 billion in assets and 131,000 member-owners in the San Diego community. Mission Fed provides a complete range of loan, savings and investment services. Members enjoy high dividend and low loan rates, uniquely caring and personal service, and the convenience of 23 branches countywide -- including a new student-operated branch expected to open at San Ysidro High School in early 2006 -- an extensive no-fee ATM network, and the Mission Fed Interactive online suite of services. For more information about Mission Fed, visit www.missionfcu.org.