NEW YORK and CHICAGO, Nov. 6, 2006 (PRIMEZONE) -- CashEdge, Inc. (www.cashedge.com), the pioneer behind opening and funding accounts online, and Canopy Financial, the leading provider of financial technologies that power consumer-driven healthcare, announced a strategic partnership today that provides financial institutions with the infrastructure needed to address the unique complexities associated with originating and managing healthcare related financial accounts.
"CashEdge's market-leading products play an important role in helping financial institutions automate account origination processes," said Vik Kashyap, Chairman & Founder of Canopy Financial. "Through this partnership, financial institutions have the ability to extend their capabilities to profitably open, fund, and manage healthcare-related financial accounts entirely online."
"We are pleased to partner with Canopy Financial in this collaboration of healthcare and financial services technologies," stated Sanjeev Dheer, chief executive officer of CashEdge. "As the market leader, CashEdge is always looking for opportunities to broaden our reach and deliver our cutting-edge technology solutions to such exciting new markets as consumer-driven healthcare."
Canopy Financial processes a consumer-driven healthcare financial transaction every 14 seconds and CashEdge's platform is currently used in more than 500 institutions including five of the top 10 banks and seven of the top 50 credit unions.
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. Working with CashEdge, financial institutions are able to create compelling online offerings that attract customers, generate revenues and reduce costs. Recognized by Inc. magazine as one of the 500 fastest growing private companies in the United States, CashEdge currently serves more than 500 leading financial institutions. These include Bank of America, Citibank, and Royal Bank of Canada. CashEdge has offices in New York and Silicon Valley. For more information, please visit www.cashedge.com.
About Canopy Financial
Canopy Financial provides innovative technology solutions that address the convergence of healthcare and financial services. Serving a diverse range of healthcare, financial services, and technology clients, Canopy empowers the development and delivery of branded, best-in-class consumer-driven healthcare products and services through its market-leading offerings, including HealthDirect(sm), HealthDirect Investments(sm), HealthDirect Bill Pay(sm), CardLink(sm), HSA Marketplace(sm), and HealthScore(sm). Canopy syndicates its Health Savings Account thought leadership and domain expertise through its portal HSA Insider (www.hsainsider.com), a leading online resource regarding Health Savings Accounts. Canopy maintains offices in Chicago and New York. For more information, please visit our web site at www.canopyfi.com or call 1-866-960-4700.