We are very pleased to offer our customers the ability to easily and securely move their money between other financial institutions and their Fifth Third Bank deposit accounts
New York, NY (PRWEB) September 24, 2009
CashEdge, Inc. (http://www.cashedge.com), the leader in Intelligent Money Movement™ products for financial institutions, announced today that Cincinnati-based Fifth Third Bank (http://www.53.com) has launched TransferNow™ Me-to-Me Transfers, CashEdge's industry-leading online money movement solution.
TransferNow Me-to-Me Transfers is an online funds transfer solution that enables consumers to securely transfer funds between accounts they own that are held at more than 23,000 banks, credit unions and brokerages via the ACH network. With TransferNow Me-to-Me Transfers, Fifth Third Bank customers can enjoy the control and convenience of securely transferring funds between their accounts using Fifth Third Bank online banking.
"We are very pleased to offer our customers the ability to easily and securely move their money between other financial institutions and their Fifth Third Bank deposit accounts," said Anthony Sperelakis, Vice President of Alternative Delivery for Fifth Third Bank. "CashEdge's TransferNow solution allows us to offer our customers the latest in online money movement functionality."
"Fifth Third continues to enhance its online financial platform for customers who have demonstrated a need for quick, easy and secure money movement solutions," said Neil Platt, Senior Vice President and General Manager, Banking, of CashEdge, Inc. "With the TransferNow Product Suite, financial institutions can continue to increase their share of the 18 billion consumer-to-consumer transactions that take place each year with a solution that is also easy for customers to adopt and navigate - a win/win for banks and consumers."
In 2008, CashEdge executed nearly $50 Billion in online transfers for bank customers via its TransferNow platform. For more information, visit http://www.cashedge.com/products-money-movement-transfernow.php.
About Fifth Third:
Fifth Third Bancorp (http://www.53.com) is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $116 billion in assets, operates 16 affiliates with 1,306 full-service Banking Centers, including 100 Bank Mart locations open seven days a week inside select grocery stores and 2,364 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2009, has $180 billion in assets under care, of which it managed $24 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at https://www.53.com. Fifth Third's common stock is traded on the NASDAQ National Global Select Market under the symbol "FITB."
CashEdge is the leader in Intelligent Money Movement™ services providing innovative payment solutions to financial institutions for their retail and small business banking customers. CashEdge's services include mobile and online person-to-person (P2P) payments and small business payments. CashEdge currently serves hundreds of leading financial institutions, including seven of the ten largest banks in the country.
CashEdge's industry leading products include POPmoney™ for person-to-person payments; OpenNow®/FundNow® for new account opening and funding; TransferNow® for Consumers, which includes Me-to-Me Transfers and Third Party Transfers; and TransferNow® for Small Businesses, 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 http://www.cashedge.com.