Cachet’s Select Mobile platforms provide financial institutions of all sizes with a wide array of customizable, consumer-facing mobile banking and transaction services for their debit and prepaid customers, including mobile remote deposit capture capabilities. Using a smartphone or tablet, customers can submit check images for authentication, clearing, settlement and deposit into financial accounts according to the deposit terms established by the financial institution client.
Under its expanded partnership agreement with Ingo Money, Cachet will now offer Select Mobile clients a guaranteed, instant mobile deposit and account funding capability supported by Ingo Money’s proven mobile risk decisioning and validation services. Cachet’s integration with Ingo Money enables Select Mobile clients to offer bank customers and credit union members the option to pay a fee on approved checks for "Good Funds," immediate and irreversible access to funds — without risk of future reversal — even in the event that a check returns unpaid.
"Integration of Ingo Money’s check guarantee services will enable our bank and credit union clients to acquire and retain more customers and members by offering the deposit flexibility increasingly important to consumers," said Jeffrey Mack, president and CEO of Cachet Financial Solutions. "Quick access to money is critical to millions of consumers and small business operators who desire more options to help them manage their day-to-day financial obligations and cash flow," continued Mack.
For financial institutions, "Good Funds" services can increase deposits to financial accounts and mobile wallet platforms, drive card transactions and increase usage of ancillary fee-based money order, money transfer or wire services, enabling customers to make purchases and pay bills immediately and without concern that access to their source of funds will be delayed or reversed.
"The convergence of good funds deposit and money movement capabilities, mobile banking technologies and digital wallet platforms is transforming consumer banking and raising consumer expectations with respect to funds access," said Drew Edwards, founder and CEO, Ingo Money. "We are pleased to extend our partnership with Cachet to drive aggressive marketplace innovation and make it easier for financial institutions to implement and deliver new, high-value consumer banking services."
Available for PC/ Mac, Smartphones and Tablets, Cachet’s Select Mobile solutions are designed to simplify the installation, deployment, maintenance and marketing of the remote deposit capture process. These innovative remote deposit capture solutions can improve customer loyalty, strengthen existing relationships, attract new customers and expand market share all while reducing operational costs and increasing profitability.
