Select Business, a cloud-based software solution, will enable the regional bank to offer its business customers, regardless of platform—PC, Mac or mobile—the ability to electronically deposit checks using their smart phone, tablet or an office desktop scanner. The bank's business customers will be able to 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. Remote users will be able to access the same functionality of an advanced merchant RDC system, via their tablet or smartphone.
Following a competitive process, the bank selected Cachet because its offerings best fit the mobile banking needs and diverse technical requirements of its banking customers. Cachet's enhanced Select Business technology works seamlessly across multiple desktop and mobile operating platforms, and can be deployed quickly and cost-effectively. In addition to mobile integration, other key enhancements include improved speed, enhanced graphical user interface, and more comprehensive and detailed audit reporting capabilities that enable financial institutions to more easily meet new compliance requirements. The bank expects that the Select Business merchant solution will improve customer satisfaction and loyalty, and ultimately expand its customer base.
Cachet's new customer joins the ranks of more than 2,000 banks that offer mobile check deposit, which has increased 100% over the last year. Among these banks, about 13% rely on Cachet for these services. Total volume of mobile check deposits rose 250% in the last year, bringing the total amount of mobile checks deposited to more than
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Judy GermanVice President, Chief Marketing Officer Cachet Financial Solutions952.698.6991 firstname.lastname@example.org Investor Relations: Matt Gloveror Michael Koehler Liolios Group, Inc.949.574.3860 CAFN@liolios.com