NEW YORK — CashEdge Inc. said it executed more than $38 billionin account-to-account transfers initiated by consumers in 2007, a300% increase from the year before.
The company said its TransferNow and FundNow solutions allowtransfers between accounts at more than 23,000 credit unions,banks, and brokerages through multiple payment networks whileverifying held-away accounts and managing risk.
“We are transferring tens of millions of dollars each day. Asthis volume continues to grow, risk management including frauddetection and prevention, becomes more and more critical to oursolutions,” said Sanjeev Dheer, the New York-based company'sCEO.
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