MINNEAPOLIS, June 16, 2016 (GLOBE NEWSWIRE) -- Cachet Financial Solutions, Inc. (OTCQB:CAFN), a leading mobile FinTech provider, has partnered with Malauzai Software, a provider of mobile and Internet banking SmartApps®, to deliver enhanced mobile deposit capabilities to Malauzai’s community financial institution customers.
Using Cachet’s Advanced Programing Interface (API), the solution, which has already been selected by several of Malauzai’s customers, integrates the company’s enhanced Select Mobile™ Deposit platform with Malauzai’s industry-leading MOX ™ Everywhere Suite that provides a consistent user experience across all mobile and Internet banking channels. Downloads of Malauzai’s SmartApps® totaled more than one million in 2015, and by year-end, there were more than 400 community financial institutions using Malauzai’s banking solutions.
Cachet’s Select Mobile Deposit enables these institutions to offer their customers the ability to deposit their checks anytime, anywhere by simply snapping a photo of the front and back of the check and submitting for deposit to their financial institution.
“The remarkably easy integration of Cachet’s technology with our platform allows us to quickly deliver a leading mobile deposit solution with advanced fraud protection,” said Robb Gaynor, chief product officer of Malauzai Software. “Faster deployments enhance customer relationships and provide us and our customers with a greater competitive advantage in the marketplace.”
Unique to Cachet’s Select Mobile Deposit is the flexibility to allow unlimited business groups and distinct rules per group when defining parameters for check acceptance. Therefore, over time, a financial institution can advance a customer to a higher level of deposit acceptance, like expanded single deposit amounts or daily limits.
“Many banks, credit unions and innovative mobile banking software providers like Malauzai look to partner with Cachet because they are discovering we have what we believe are the most advanced solutions for remote check deposit,” noted Cachet CEO Jeff Mack. “Mobile RDC can be one of the most challenging and complex functions for financial institutions to deploy, especially as banks are under increasing pressure from regulators to improve security and prevent fraud in the financial system. Cachet makes it easier by saving our clients both time and expense in delivering mobile RDC, with proprietary APIs that allow for rapid integration of mobile RDC functionality into existing mobile banking solutions.”
About Malauzai Software
Malauzai was incorporated in 2009 in response to the growing demand for a technology company that could provide innovative mobile solutions for community financial organizations. As a cool company in a cool town with a focus primarily on community financial institutions, Malauzai provides consumer, small business, employee SmartApps, SmartwebApps and SmartwearApps that enhance the customer experience for mobile and Internet banking, ultimately resulting in increased value for financial institutions. For more information, please visit www.malauzai.com.
About Select Mobile™ Deposit
Cachet’s Select Mobile Deposit, a cloud-based software solution, enables banks and credit unions to offer their customers and members the ability to use their smartphone or tablet to deposit checks electronically, eliminating trips to a financial institution or ATM to deposit checks. Users simply download the mobile app and use their mobile device to snap a photo of the front and back of their check and then submit electronically for deposit at their financial institution. With Select Mobile Deposit, users can conveniently and securely deposit their checks anytime, anywhere.
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 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.
All trademarks, service marks, and registered marks are the properties of their respective owners. MOX™ Everywhere Suite and SmartApps™ are a trademarks of Malauzai Software, Inc. Select Mobile™ Deposit is a trademark of Cachet Financial Solutions, Inc.
Forward-Looking Statements
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