NEW YORK, Nov. 15, 2005 (PRIMEZONE) -- CashEdge, the leading provider of online financial applications, today announced that it has expanded the functionality of its OpenNow/FundNow product, and has also upgraded the customer interface for greater ease of use. The upgrade is designed to improve the conversion rate of online account opening and reflects CashEdge's commitment to innovation as it relates to online transactions. OpenNow/FundNow was first introduced in November 2004. Since then, more than 20 financial institutions have embraced online account opening and funding utilizing CashEdge's solution, which marries account opening and funding in a single transaction.
With a focus on new applicant success rates, the upgrades to OpenNow/FundNow include:
-- Streamlined application and funding process -- more intuitive
and easier to navigate;
-- Increased customer guidance -- context-specific help for
improved user experience;
-- More flexible funding process -- more alternatives for account
funding and verification;
-- Simpler joint application process -- in a single, four-step
session.
"We are continually looking for opportunities to make online account opening and funding easier for the customer and to strip away any hurdles that might cause them to fail to complete the process. As a result of our latest upgrades, we are already seeing significant improvements in success rates," commented Sanjeev Dheer, CEO of CashEdge. "Over time, online account opening and funding will become the standard for retail banking customer acquisition. We think it's inevitable because it combines a better customer experience with lower costs for the bank."
The new OpenNow/FundNow product is now available to all financial institutions seeking to streamline and fully leverage their online channel for customer acquisition.
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 more than 300 leading financial institutions, including such leading institutions as Bank of America, Citibank, Harrisdirect, and Royal Bank of Canada. CashEdge has offices in New York and Silicon Valley. For more information, please visit our Web site at www.cashedge.com.
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