CashEdge Awarded Patent for Multiple Trust Modes for Handling Data
Online Services Provide Multiple Options Regarding How User Data is Handled
New York, NY – April 23, 2007 —CashEdge Inc. (www.cashedge.com), a provider of online financial applications, today announced the issuance of U.S. Patent number 7,203,845, “Multiple Trust Modes for Handling Data.” The technology allows financial institution customers to control the degree to which their user credentials may be stored and accessed when utilizing CashEdge’s data aggregation service.
Issued on April 10th, the U.S. patent describes the Company’s financial analysis system for collecting and storing consumer account information based on one of three user-selected modes: automatic, on-demand, or manual.
The highest trust mode, automatic, enables CashEdge to store credentials and independently access and update the user’s account. On-demand mode enables CashEdge to store credentials, but only to access and update the account when prompted by the user. Finally, manual mode only stores the log-in i.d. but not the password, which must be presented by the user at the beginning of each session.
“We are very pleased to have been awarded a patent for multiple trust modes for handling data. This is a distinguishing component that sets CashEdge apart from other providers of online financial solutions who only offer high-trust mode,” said CashEdge Vice President of Marketing Jeremy Sokolic. “Our technology gives consumers a way to comfortably ease into aggregation, without surrendering password information upon account set-up. Furthermore, it allows users to change their trust mode at any time if their comfort level and desire for a more convenient automated user experience increases.”
About CashEdge
CashEdge® provides innovative, online financial applications to banks, credit unions and wealth management firms. CashEdge's solutions include end-to-end online account opening and funding, funds transfer, small business payments and invoicing, and data consolidation. These proven solutions are flexible, scalable and supported by extensive risk management capabilities.
CashEdge has been ranked by Inc. Magazine as one of the 500 fastest growing private companies in the United States for two years in a row. In 2007 it was also recognized by the 2007 Deloitte Technology Fast 500 and Fast 50 as one of the nation's 500 fastest growing private companies and one of the 50 fastest growing companies in the New York area, respectively. The company currently serves hundreds of leading financial institutions including four of the top five banks, 23 of the top 100 banks, and 20 of the top 100 credit unions. CashEdge has offices in New York, Silicon Valley and India. For more information, please visit www.cashedge.com.
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