In an announcement at the opening of its new $2.3 billion online banking platform, Corning said Edge will make it easier for users to store, manage and use cash and debit cards, along with the Internet of Things.
The service will make “a number of new services available to Corning customers that we believe will enable them to become more engaged in their digital lives,” the company said in a statement.
“While this announcement represents a significant step forward in the evolution of online banking across the globe, Coronavision continues to invest in the future of the online banking market.”
The new Edge will allow users to make bank transactions, pay bills, pay taxes and check balances on their phones, the company announced.
The service is expected to be available by the end of the year, with the price tag of $10 per month for a family plan and $15 per month with an individual plan.
The announcement comes after several months of criticism over Corning and its Edge product, which is currently in beta testing.
Last month, a U.S. senator sent a letter to Coronacision President Scott Sosnowski asking for an investigation into Corning over the issue of Edge.
Corning had said the new Edge would allow customers to pay bills in their local currency.
Sosnowsky replied to the letter, saying the company has no plans to implement a change in currency at this time.
Coronascutre also said in the letter that customers will be able to store money in the Edge’s global vault.SOSNOWSKI said Coronation will not implement currency conversion at this point in the service.
Coronalink, another cloud banking service, has also faced criticism over the Edge product.
In a statement, Coronalinking said it had no plans at this stage to implement any kind of currency conversion.
Coronation has faced criticism since its launch in December, when its Edge online banking product was criticized for not having a bank-like functionality.
Coronalink CEO David Hock told Reuters in February that Edge will have a “much greater degree of autonomy” than Coronaxion, a new bank offering customers the ability to manage money in a variety of ways, including with credit cards, online and offline.
Corondoraxion has also been criticized for its online banking services, which have attracted a large amount of criticism.
In March, the U.K. government launched an investigation of the services because of their lack of customer support and lack of payment processing.
In response, Coronelion said the company will launch a “multi-lingual online banking portal” in the coming months, which will allow customers in the U.-K.
to manage their account balances using multiple languages.
The Edge is expected in the first quarter of 2019.