MINNEAPOLIS, May 12, 2015 (GLOBE NEWSWIRE) -- Cachet Financial Solutions, Inc. (OTCQB:CAFN), a leading provider of cloud-based SaaS mobile money technologies to banks, credit unions and alternative financial services (AFS) providers, has deployed its Select Business™ remote deposit capture (RDC) platform for National Check & Currency's growing clientele of over 100 Money Service Businesses operating in over 3,000 domestic and international locations.
NCC provides redundant banking and check clearing services with emphasis on speed and compliance. Through its partnership with Cachet and use of Cachet's Select Business, a cloud-based software solution, NCC offers clients the ability to electronically cash customer checks on-site using an internet enabled scanner or mobile device. Further mitigating risk and preserving data integrity, the data is scrubbed and analyzed as it flows through the settlement process. For those clients needing a verification process, NCC offers clients the ability to verify and approve checks before being uploaded to NCC's friendly banking partners.
"Offering Cachet's best-in-class RDC platform exemplifies our commitment to providing our MSB clients with the most innovative technologies and best customer service available in the banking industry," said Steve Bessen, National Sales Director of NCC. "We look forward to improved operational efficiencies and increased profitability for NCC and our clients as we migrate to the new platform."
"Checks remain widely accepted, particularly in the alternative financial services industry," noted Jeffrey Mack, President and CEO of Cachet Financial Solutions. "Cachet's Select Business multi-channel RDC platform provides a lower cost, more efficient deposit option for banks, credit unions and alternative financial services providers looking to grow relationships with their existing business customers and compete for new accounts without geographic limitations."
About Select Business™
A cloud-based software solution, Select Business gives financial institutions' business customers, the ability to scan and electronically deposit checks using their smart phone, tablet or an office desktop scanner. Businesses can better monitor and manage their businesses on the road with the ability to submit multiple check deposits remotely; track deposits made by their employees in the office and in the field, and supervise employees' deposit activities. Comprehensive and detailed audit reporting capabilities enable financial institutions to more easily meet new compliance requirements. Cachet's Select Business technology works seamlessly across multiple desktop and mobile operating platforms, and can be deployed quickly and cost-effectively helping financial institutions to enhance customer loyalty, expand market share and accelerate ROI.
About National Check and Currency
NCC facilitates direct relationships between domestic MSB's and their portfolio of MSB-friendly Financial Institutions.
National Check and Currency (NCC) is a leading banking services provider and the only banking solution to offer a portfolio of multiple banking partners able to serve the varied needs of the entire Financial Service Industry. We provide banking services to more than one hundred Money Service Businesses operating over three thousand locations, both domestically and internationally. National Check and Currency's commitment to service and use of technology have reinvented the Money Service Business by providing our clients and partner banking institutions new payment mechanisms for more expedient, compliant, and efficient transactions while allowing greater control and increased profitability. For more information about NCC, call (877) 327-4249 or visit http://www.natcnc.com .
About Cachet Financial Solutions, Inc.
Cachet Financial Solutions is a leading cloud-based, SaaS technology provider serving the financial services industry with mobile money and remote deposit capture solutions for PC, Mac and mobile. Founded in early 2010, Cachet has quickly grown into a technology leader and trusted partner of some of the world's largest and most respected financial organizations. With remarkable growth, an impressive client base and award-winning technologies, Cachet continues to drive innovation and deliver world-class solutions to financial institutions of all sizes.
The company's industry-leading solutions help clients to increase customer engagement, grow revenues and gain competitive advantage. Cachet's cloud-based technology platform simplifies development, deployment and servicing of consumer and commercial solutions—minimizing cost and accelerating speed-to-market and ROI. Enabled by Cachet's complete suite of business and consumer solutions, financial institutions can better serve the needs of all their customers. For more information, visit www.cachetfinancial.com .
Forward-Looking Statements
This press release contains certain statements that would be deemed "forward-looking statements" under Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1933 and includes, among other things, discussions of our business strategies, future operations and capital resources. Words such as "may," "likely," "anticipate," "expect" and "believes" indicate forward-looking statements.
These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Forward-looking statements include statements about the anticipated closing of our initial public offering and the number of shares to be sold in the offering.
Forward-looking statements reflect our current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. We discuss many of these risks in greater detail in our Current Report on Form 10K filed with the Securities and Exchange Commission on April 14, 2015 under the heading "Risk Factors" and in the other reports we file with the Commission. Given these uncertainties, you should not attribute undue certainty to these forward-looking statements. Also, forward-looking statements represent our estimates and assumptions only as of the date of this press release. Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.
Media Contact: Judy German VP & CMO Cachet Financial Solutions, Inc. 952.698.6991 Investor Relations: Matt Glover or Michael Koehler Liolios Group, Inc. 949.574.3860
