Cachet Financial Solutions Announces Upgrade to Proprietary Risk Mitigation Platform

MINNEAPOLIS, Aug. 13, 2013 (GLOBE NEWSWIRE) -- Cachet Financial Solutions, a leading provider of remote deposit capture solutions (RDC), has announced an impressive feature upgrade to their patent-pending risk mitigation platform, CheckReview™. CheckReview is integrated with Cachet's mobile and flat-bed consumer RDC products: Select Mobile™ Deposit, Select Mobile™ Prepaid, and Select Home™, and offers financial institution, credit union, and financial service organization clients the ability to monitor checks in real time with flexible controls and advanced monitoring.

"With the initial release of CheckReview, Cachet led the industry with real time verification of check images," said Jeffrey Mack, President and CEO at Cachet. "This upgrade incorporates best practices that we have learned since the initial offering and provides our clients with even greater control over their RDC programs."

Released this week, the upgraded CheckReview platform now offers Cachet's clients the unique ability to segment their RDC users into groups. CheckReview administrators can implement Know Your Customer best practices by setting custom deposit limits for user groups. This enables the financial institution to "graduate" customers/members based on their account type, status, and history. Within groups, administrators can also create custom fee structures, allowing a more tailored and targeted fee option. For example, a financial institution might add a fee to business account deposits, while allowing retail consumers to use the service for free.

Additionally, CheckReview 1.5 features advanced monitoring and security with features like signature and endorsement detection, as well as daily reporting. Cachet's clients also have more control over their program with operator audit tracking and increased administrative functionality.

"As a leading provider of RDC, we take the associated risks very seriously," adds Mack. "CheckReview was already a strong complement to our suite of RDC products, and we are proud to continue to offer our clients robust and innovative ways to combat fraud."

About Cachet Financial Solutions Inc

Cachet Financial Solutions is a leading financial services technology company specializing in commercial and consumer remote deposit capture (RDC) solutions for Mac, PC and Mobile (utilizing Mitek's patented image-capture technology). Our industry-leading platform has simplified the process of developing, deploying and servicing remote deposit capture (RDC), minimizing cost and accelerating speed-to-market and ROI for our clients. With our complete suite of business and consumer RDC solutions, financial institutions and credit unions can better serve the needs of all their customers/members. For more information how Cachet can help you Unleash the Power of RDC, call 1.877.318.4449 or email info@cachetfinancial.com.

CONTACT: Manon Ibes Cachet Financial Solutions (952) 698-6952

Source: Cachet Financial Solutions