November 6, 2008

Comerica Bank Selects Canopy’s Healthcare Banking Platform

Comerica Bank has selected Canopy's on-demand healthcare banking platform to power HealthReserve, Comerica's health savings account offering for employers and consumers.

Canopy's HealthDirect supports the healthcare banking programs of some of the financial institutions in America. With average health savings account (HAS) account balances growing at double digit rates quarter over quarter since the beginning of 2008, HealthDirect offers a robust, administration and account management platform for all consumer driven healthcare-related spending accounts, including HSAs, Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs).

Vik Kashyap, CEO of Canopy, said: "Comerica's business banking focus sets it apart from other financial institutions in the HSA space. Through HealthDirect, Comerica's business banking and consumer clients now have access to leading edge healthcare banking features like electronic payments, investment trading, and 24/7 online HSA account administration."