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Cachet Financial Solutions Announces Mobile Deposit Integration With Mobile Banking Application From CU Mobile Apps

MINNEAPOLIS, Feb. 5, 2013 (GLOBE NEWSWIRE) -- Cachet Financial Solutions, a leading provider of remote deposit capture solutions (RDC), has announced a new integration with CU Mobile Apps, a rapidly-growing provider of progressive mobile banking solutions. The integration between Cachet's Select Mobile™ deposit technology and CU Mobile Apps' mobile banking platform enables credit unions nationwide to satisfy the growing consumer demand for increased mobile technologies.

Mobile banking adoption has increased rapidly since its introduction, and the demand for mobile deposit continues to grow. Business consulting firm Bain and Company announced in December 2012 that mobile banking usage in the United States has increased 50% since 2011, and 41% of survey respondents said that using their smart device for remote deposit would be highly valued. Credit unions implementing a mobile solution with remote deposit, like the integration offered through Cachet and CU Mobile Apps will be able to capitalize on these major trends and gain a significant advantage as consumers continue to adopt these services.

"Industry experts have identified mobile banking as the biggest trends for credit unions in 2013 and mobile deposit has long led the list of most desired enhancements to traditional mobile banking," said Jeffrey Mack, President and CEO of Cachet Financial Solutions. "The CU Mobile Apps solution is already recognized as a leader in the mobile banking world and this integration is exciting because it allows their credit union customers to step further into the mobile revolution."

Tom Gray, owner-partner of Member Service Solutions (MSS), who offers the CU Mobile Apps products, agrees saying, "We live in an increasingly mobile world, and credit unions are quickly recognizing the demand for mobile products from their members. We pride ourselves on going above and beyond with our mobile solutions, and the ability to offer leading mobile deposit technology through Cachet will be a key differentiator for our credit unions' mobile initiatives."

The partnership was driven by a shared emphasis on the needs of credit unions and their members. CU Mobile Apps' forward-focused design enables credit unions to smoothly integrate new features, like mobile deposit, as they are developed. For members, making a deposit is fast and easy. They simply snap photos of their endorsed check and submit them for processing. Cachet's solution formats the images, corrects any distortions or skewing, utilizing Mitek's patented technology, and confirms that the images meet industry, Check 21, and mobile image-quality standards.

"CU Mobile Apps provides a robust, flexible and affordable solution with a high level of customization and control for the credit union," said Kevin Harrigan, Vice President of Sales and Strategic Alliances at Cachet. "Integrating Cachet's mobile deposit solution makes this a very attractive solution for those interested in expanding their mobile offering."

About Cachet Financial Solutions

Cachet Financial Solutions is a leading financial services technology company, specializing in commercial and consumer remote deposit capture (RDC) solutions for financial institutions, credit unions, and financial service organizations. RDC Select™, our industry-leading platform has been designed to simplify the process for delivering, implementing, and servicing RDC. We've eliminated the need for our clients to build and manage their own RDC business. Cachet's merchant capture (for both PC and Mac) and mobile deposit technology provide greater freedom and flexibility for financial institutions and their customers. Cachet's sophisticated marketing strategy and professional sales training program ensures our customers success with their RDC initiatives. Let us help you Unleash the Power of RDC!™ For more information call 877.318.4449 or visit www.cachetfinancial.com.

The Cachet Financial Solutions logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=16013

About Member Service Solutions, LLC

Member Service Solutions, LLC is a respected provider of insurance and financial solutions for credit unions and financial institutions. Additional information is available at www.cumobileapps.com and www.memberservicesolutions.com, or by calling (800) 537-9035, Ext. 105.

CONTACT: MANON IBES, Cachet Financial Solutions (952) 698-6952

Source: Cachet Financial Solutions