May 14, 2009
Bank of the West deploys online account opening and funding service from CashEdge
US financial services provider Bank of the West has teamed up with account aggregation, funds transfer and online account opening company CashEdge to deploy the latter's online account opening and funding service for its retail banking customers.
Under the terms of the agreement between the two companies, Bank of the West has gone live with CashEdge’s OpenNow/FundNow service, which allows consumers to open and transfer funds into an online account via the banks’ online banking portal or mobile application. Bank of the West representatives have indicated that the financial services provider’s decision to deploy the CashEdge online services suite aims to expand its online banking capabilities in the wake of shifting consumer attitudes.
In addition to online account opening and funding, CashEdge’s services include account transfers between a user’s accounts and third party transfers, employee and vendor payments as well as invoice payments for businesses.