MINNEAPOLIS, May 26, 2016 (GLOBE NEWSWIRE) -- Cachet Financial Solutions (OTCQB:CAFN), a leading mobile fintech provider, announced today that LCNB National Bank has selected Cachet’s Select Mobile™ Deposit solution to power the bank’s new mobile deposit solution. The Ohio-based bank with $1.2 billion in assets and 36 locations, expects to begin offering mobile deposit to its mobile banking users by June 2016, via integration with the bank’s mobile banking provider.
Cachet’s Select Mobile Deposit, a cloud-based software solution, will enable LCNB National Bank’s customers to use their smartphone or tablet to deposit checks electronically, anytime, anywhere, eliminating the time and hassle of making trips to the bank or ATM to deposit checks. Users can simply download the bank’s mobile banking app, use the camera on their mobile device to snap a photo of the front and back of their check and then submit to LCNB National Bank for deposit into their account.
“Cachet’s easy and secure mobile deposit solution is the perfect complement to our suite of banking services,” said Eric Meilstrup, LCNB National Bank Executive Vice President. “Advanced risk mitigation and seamless integration with our mobile banking provider made it an easy decision to deploy Cachet’s mobile deposit solution to help us better serve current customers and reach new markets.”
Unique to Cachet’s Select Mobile Deposit is the flexibility to allow unlimited business groups, with defined rules per group, regarding the acceptance of check deposits. As the relationship changes, LCNB National Bank can move a customer up to the next level of deposit acceptance, i.e., higher deposit limits, higher limit per day, etc. Additionally, unlike other solutions that only run deposits in batches at the end of the day, Select Mobile Deposit accepts deposits throughout the day, enabling faster deposits for LCNB National Bank and their customers, and improving the overall user experience.
“We’re pleased to partner with LCNB National Bank to help enhance their current product mix with our industry-leading mobile deposit solution, Select Mobile Deposit,” stated Jeffrey Mack, president and CEO of Cachet Financial Solutions. “Mobile deposit has become table stakes for financial institutions hoping to compete for and retain today’s mobile-centric consumers. Fortunately, Cachet’s affordable and flexible solution makes it easy for any size bank or credit union to offer their customers the convenience of mobile deposit.”
For additional information about Cachet’s Select Mobile Deposit, please visit www.cachetfinancial.com or email info@cachetfinancial.com .
About Cachet Financial Solutions, Inc. Cachet Financial Solutions is a leading financial technology provider of mobile money and remote deposit capture solutions for PC, Mac and mobile. Founded in early 2010, Cachet has quickly grown into an industry 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 .
About LCNB National Bank LCNB Corp. is a financial holding company headquartered in Lebanon, Ohio. Through its subsidiary, LCNB National Bank (the “Bank”), it serves customers and communities in Southwest and South Central Ohio. A financial institution with a long tradition for building strong relationships with customers and communities, the Bank offers convenient banking locations in Butler, Clermont, Clinton, Fayette, Hamilton, Montgomery, Preble, Ross and Warren Counties, Ohio. The Bank continually strives to exceed customer expectations and provides an array of services for all personal and business banking needs including checking, savings, online banking, personal lending, business lending, business support, deposit and treasury, investment services, trust and IRAs and stock purchases. LCNB Corp. common shares are traded on the NASDAQ Capital Market Exchange® under the symbol “LCNB.” Learn more about LCNB Corp. at www.lcnb.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.
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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 Annual Report on Form 10-K for the fiscal year ended December 31, 2015, filed with the Securities and Exchange Commission on April 14, 2016, under the heading "Risk Factors" and in the other reports we file with the Commission. You are cautioned not to place undue reliance on 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 jgerman@cachetfinancial.com Investor Relations: Matt Glover or Najim Mostamand Liolios Group, Inc. 949-574-3860 CAFN@liolios.com
