CashEdge Launches OpenNow/FundNow Express

OpenNow/FundNow Express is the newest addition to CashEdge's OpenNow/FundNow product suite, the industry-leading solution that in 2007 processed more than 1.7 million online applications on behalf of CashEdge's bank and credit union clients.

OpenNow/FundNow Express provides institutions with the proven technology and benefits of OpenNow/FundNow - including instant ID verification using best of breed data sources, real-time account verification, multiple electronic funding options and comprehensive risk management services. The solution is simple, turnkey, and cost-effective, enabling small/mid-sized banks and credit unions to go to market in as little as two weeks, quickly increasing their new account acquisition and new account funding rates.

"With nearly 73 percent of consumers preferring to open and fund accounts online, we wanted to create a solution to enable small and mid-sized banks, and credit unions to capitalize on this opportunity, without having to commit a significant amount of internal resources to the process," said Sanjeev Dheer, CEO, CashEdge. "OpenNow/FundNow Express is a cost-effective, easy-to-implement solution that enables financial institutions in this valuable segment of the marketplace to compete with the industry leaders while realizing an immediate and positive return on their investment. This product puts online account opening within the reach of every financial institution."

Central Pacific Bank, Hawaii's third largest commercial bank with 39 branch offices statewide and $5 billion in assets, recently launched OpenNow/FundNow Express.

"Providing online account opening satisfies a rapidly growing customer demand for conducting and managing financial affairs on the Internet," said Wayne Kirihara, Senior Vice President of Alternative Delivery Channels at Central Pacific Bank. "CashEdge's OpenNow/FundNow solution makes it possible for a customer to open and fund an account online in as little as seven minutes, without having to visit a branch. We are pleased to be able to partner with CashEdge, the leader in this industry, to offer this convenient and secure service to our customers."

As a fully hosted ASP solution, OpenNow/FundNow Express is highly scalable and flexible, and can also be easily upgraded to the standard OpenNow/FundNow product to meet growing account opening and funding needs.

To learn more about OpenNow/FundNow Express, visit http://www.cashedge.com.