Cachet Financial Solutions, a provider of cloud-based SaaS (Software as a Service) mobile money technologies, has a new offering about which MMW was briefed on Tuesday.
The company is moving ahead with a so-called “express” version of its Select Mobile Deposit.
The end result, we’re told, will be the ability to provide smaller banks and credit unions across the U.S. with “an affordable, market-ready mobile deposit solution to offer their customers and members.”
Cachet’s Select Mobile Deposit-Express removes the barriers to entry typical of mobile deposit solutions, enabling smaller financial institutions to compete more effectively for today’s mobile-centric consumers and businesses.
“Despite tremendous growth in adoption, mobile deposit has been cost prohibitive for many smaller banks and credit unions, increasing risk of customer attrition and loss of market share,” Jeffrey Mack, president and CEO of Cachet, said this week in a company news release. “Cachet’s Select Mobile Deposit-Express is a game-changer for these financial institutions, enabling them to protect market share and compete with much larger competitors via quick and affordable deployment of an easy and secure mobile deposit solution.”