MINNEAPOLIS, June 30, 2015 (GLOBE NEWSWIRE) -- Cachet Financial Solutions (OTCQB:CAFN), a leading provider of cloud-based SaaS (Software as a Service) mobile money technologies to banks, credit unions, and alternative financial services (AFS) providers, will deploy its Select Business™ Merchant Capture platform for United Business Bank (UBB), a California-based community bank with nine locations across the western United States. UBB will transition to the new business RDC platform this summer.
Cachet's Select Business Merchant Capture is a cloud-based RDC software solution that will enable UBB's business/merchant customers to electronically deposit checks from their desktops (PC or Mac), smartphones or tablets, eliminating the need to make a trip to the bank or ATM. The platform's intuitive and user-friendly interface will provide merchants with easy navigation between deposits, reports and activities. A streamlined workflow will simplify UBB merchant on-boarding and user set-up across deposit platforms. Additionally, comprehensive audit reporting capabilities will enable UBB to more easily meet new compliance requirements.
"We were looking for a leading-edge solution that would provide a better overall experience for our merchants today and also support our continued growth into the future," said UBB's Executive Vice President and Chief Operating Officer, Ed Perez. "Cachet's easy-to-use merchant capture solution, with Mac and mobile compatibility, and seamless integration across channels, fit the bill perfectly."
UBB is one of more than a dozen financial institutions to transition to Select Business Merchant Capture since Cachet rolled out a new release of the product earlier this year that seamlessly supports both desktop and mobile platforms.
"Research shows that checks remain widely accepted and are the preferred form of payment among small to medium size businesses," noted Jeffrey Mack, President and CEO of Cachet Financial Solutions. "Migrating these branch deposits to Cachet's Select Business RDC platform enables operational efficiencies and cost savings for many banks, and improves their ability to attract and retain more business customers."
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 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.
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.
These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Forward-looking statements include statements about the anticipated closing of our initial public offering and the number of shares to be sold in the offering.
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 Current Report on Form 10K filed with the Securities and Exchange Commission on April 14, 2015 under the heading "Risk Factors" and in the other reports we file with the Commission. Given these uncertainties, you should not attribute undue certainty to 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.
CONTACT: Media Contact: Judy German VP & CMO Cachet Financial Solutions, Inc. 952.698.6991 firstname.lastname@example.org Investor Relations: Matt Glover or Michael Koehler Liolios Group, Inc. 949.574.3860 CAFN@liolios.com
Source:Cachet Financial Solutions