August 14, 2007
Principal Bank Selects CashEdge Technology for Online Money Transfer Service
The business weekly posted CashEdge’s recent announcement detailing their selection by Principal Bank to provide inter-institution transfer technology.
“‘We are pleased to have been selected by Principal Bank to power their online money movement solution,” said CashEdge CEO Sanjeev Dheer. ‘The addition of our inter-institution transfer functionality is a natural extension of Principal Bank’s online banking channel. We are confident that the added utility this technology delivers will result in even greater customer usage of their online payments suite’.”
“CashEdge’s TransferNow technology enables financial institutions to deploy secure online money transfer services that attract new assets and generate new revenue streams. Using TransferNow, Principal Bank customers can transfer money securely to and from family, friends and associates at any of 23,000 banks, credit unions, and brokerages nationwide from their Principal Bank log-in. Supported by CashEdge's comprehensive risk management capabilities, TransferNow automates the authentication of the account, and moves funds in a risk-managed fashion via the ACH network.”