MINNEAPOLIS, June 5, 2013 (GLOBE NEWSWIRE) -- Cachet Financial Solutions, a leading provider of remote deposit capture solutions (RDC), has announced their participation in "Ingo – The Good Funds Network" as the preferred mobile deposit technology. Ingo was recently launched nationally by Chexar Networks, Inc. (CHEXAR) which has recently changed its name to Ingo Money, Inc. (Ingo). Cachet has been a long standing mobile deposit partner of Chexar's and was involved in the successful pilot of the Ingo network earlier this year.
Having both acknowledged the consumer need for immediate access to funds, Cachet and Ingo established a partnership several years before, working to build the first mobile "Good Funds" program in the industry. Now, Ingo makes it possible for the underserved, millennials, small business owners, and many others to quickly, conveniently, and affordably convert their checks into irreversible "Good Funds" loaded onto their participating prepaid cards.
"Cachet is pleased to take our partnership with Ingo to the next level by providing our image capture functionality for the Ingo network," said Jeffrey Mack, President and CEO at Cachet Financial. "We continually work to expand our mobile functionality, and are pleased to add this as an integrated solution for our clients at financial institutions, credit unions, and other financial service organizations."
Currently consumers using Visa® prepaid cards through RushCard, AccountNow, Plastyc, and select FSV Payment Systems programs are able to enroll their card and immediately begin making remote deposits. Due to increasing consumer interest, the network is expected to expand rapidly, including more partner card programs and major card providers.
"Mobile check deposit functionality is in high demand by consumers across all demographic groups, and as such we are excited to see Cachet playing multiple strategic roles going forward," said Drew Edwards, Chexar founder and CEO. "We have worked with Cachet for several years and look forward to expanding our relationship, leveraging Cachet's image capture technology, and growing the mobile distribution channel."
For more information on becoming involved in the Ingo network, please contact Cachet Financial at info@cachetfinancial.com
About Cachet Financial Solutions Inc
Cachet Financial Solutions is a leading financial services technology company specializing in commercial and consumer remote deposit capture (RDC) solutions for Mac, PC and Mobile (utilizing Mitek's patented image-capture technology). Our industry-leading platform has simplified the process of developing, deploying and servicing remote deposit capture (RDC), minimizing cost and accelerating speed-to-market and ROI for our clients. With our complete suite of business and consumer RDC solutions, financial institutions and credit unions can better serve the needs of all their customers/members. For more information how Cachet can help you Unleash the Power of RDC, call 1.877.318.4449 or email info@cachetfinancial.com.
About Ingo Money, Inc.
Ingo Money (formerly Chexar Networks) is the national leader in check decisioning and guaranteed funding for any type and size of check. Ingo Money has provided these services for over 12 years in company owned locations and now at thousands of bank and alternative financial locations, ATMs, Kiosks, and mobile devices around the nation. Some of the largest banks and non-bank financial services companies in the country rely on Ingo Money to manage and guarantee the risk for them.
Ingo – The Good Funds Network is the first mobile remote deposit network for prepaid that gives consumers access to money in minutes from any type of check from a mobile phone. Consumers can now download a mobile application, enroll with Ingo, load their eligible cards into the wallet, and push any approved check to their cards in days for free or in minutes for a fee.
There are a lot of hardworking people out there who just want to access the money they've earned and to know it can't be taken away from them. That's Good Funds. Ingo for Enterprises enables financial institutions to make this possible in their branches, on their ATMs, and on their mobile deposit applications. Ingo – The Good Funds Network, enables any prepaid program or bank to begin offering remote deposit capture with funds available in minutes and they can implement this functionality literally in days. For more information visit www.ingomoney.com or call 678-736-7000.