NEW YORK and ATLANTA, Dec. 7, 2010 /PRNewswire/ -- CashEdge, Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement® services, and SunTrust Banks, Inc., (NYSE : STI ) one of the largest banks in the United States, announced today that SunTrust has launched CashEdge's online funds transfer solution, TransferNow®, for its online banking clients. The TransferNow product suite provides a single point of access for multiple easy-to-use secure consumer transfer routes, including Person-to-Person Transfers and Me-to-Me Transfers.
TransferNow allows SunTrust's clients to easily and safely manage their finances online, without the hassle of personal checks or cash exchanges. The implementation meets increasing consumer demand for simple and secure online money movement options, and seamlessly integrates with SunTrust's existing online offerings. The TransferNow product suite is flexible and able to rapidly evolve in response to changing consumer demand.
"Today's consumers want more comprehensive tools when it comes to online funds transfers, and we needed to complement our existing capabilities with a fast, convenient, and secure solution," said Ginger Schmeltzer, SunTrust's Digital Channel manager. "CashEdge's TransferNow enables us to meet this need, enhance our clients' online banking experience, and meet the increasing demand for online person-to-person payments."
"SunTrust continues to enhance its online financial platform for clients who have demonstrated a need for quick, easy and secure money movement solutions," said Neil Platt, Senior Vice President and General Manager, U.S. Banking, CashEdge Inc. "CashEdge's proven online funds transfer solution enables financial institutions to respond to this growing demand from consumers who want to easily and safely move their money online to anyone at anytime."
All TransferNow modules leverage the proven reliability, security and strength of CashEdge's money movement platform, which in 2009 processed $50 billion in funds transfers for bank customers. To learn more about CashEdge's Intelligent Money Movement Services, visit www.cashedge.com.
About SunTrust Banks, Inc.
SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2010, SunTrust had total assets of $174.7 billion and total deposits of $120.3 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust's Internet address is suntrust.com
CashEdge is a leading provider of Intelligent Money Movement® solutions for financial institutions, including mobile and email person-to-person (P2P) payments, account transfers, account opening and funding, small business applications and financial account aggregation. The Company's clients include over 650 leading financial institutions, including eight of the ten largest banks in the country. CashEdge's newest offering, Popmoney®, is a bank-enabled email and mobile money movement service that is live at leading banks in the U.S.
CashEdge's industry-leading products include Popmoney™ for email and mobile payments; Popmoney for Small Business, OpenNow®/FundNow® for new account opening and funding; TransferNow® for consumers, which includes Me-to-Me and Third Party Transfers; and Small Business Suite, which includes Invoicing, Me-to-Me Transfers, Employee Payments and Vendor Payments. All CashEdge products are supported by industry-leading risk management capabilities that leverage proprietary technology to help financial institutions mitigate risk and decrease fraud exposure.
The Company is headquartered in New York with offices in Silicon Valley and India. For more information, visit www.cashedge.com.
SOURCE CashEdge, Inc.