CashEdge

About CashEdge

CashEdge, Inc. operated as a provider of online financial applications for the financial services industry, founded in 1999 by Sanjeev Dheer. Dheer, with a diverse academic background including an MBA from Stanford Business School and a Master's in Computer Science, previously worked as a Principal at McKinsey & Co., where he served financial institutions. This experience likely shaped the company's focus on creating solutions for banks.

The company's business was centered on developing and supplying software that enabled electronic money movement, primarily for banks, credit unions, and wealth management firms. Its client base included major financial institutions, counting five to eight of the top ten largest U.S. banks among them. CashEdge's revenue model involved its client banks paying for the services, which they would then reprice and offer to their own consumer and small business customers.

CashEdge developed a suite of products branded as "Intelligent Money Movement". Key offerings included TransferNow®, which facilitated me-to-me and third-party account transfers, and OpenNow®/FundNow® for online account opening and funding. A significant and well-known product was Popmoney®, a person-to-person (P2P) payment service that allowed users to send money via email or mobile phone number, settling through the ACH network. This service was designed to be integrated directly into a bank's own online and mobile banking platforms, offering a bank-centric alternative to non-bank services. The company also provided solutions for small businesses, such as invoicing and vendor payments. A core component of its offerings was a sophisticated risk management system that used proprietary technology and statistical modeling to detect and prevent fraudulent transactions.

A major milestone in the company's history was its acquisition by Fiserv, a global financial services technology provider, for $465 million. The deal was announced in June 2011 and completed by September 2011. The acquisition was a strategic move by Fiserv to enhance its digital payment capabilities, particularly in P2P payments, by combining CashEdge's Popmoney® with its own ZashPay® service. Following the acquisition, Sanjeev Dheer became the president of the new Fiserv division.