Cachet Financial Integrates Ingo Money Check Guarantee Services for Banks, Credit Unions (Sept. 30, 2014)
Minneapolis-based remote deposit capture specialist Cachet Financial Solutions has expanded its partnership with Ingo Money Inc., an electronic funding technology provider, to deliver instant, non-provisional consumer mobile deposit and account funding services on Cachet’s Select Mobile and Select Mobile Prepaid mobile banking platforms, which provide financial institutions with customizable, consumer-facing mobile banking and transaction services for their prepaid and debit customers. The expanded agreement with Ingo Money enables Cachet to offer Select Mobile clients a guaranteed, instant, mobile deposit and account funding capability supported by Ingo Money’s mobile risk decision and validation services. Select Mobile clients can offer bank customers and credit union members the option to pay a fee on approved checks for immediate access to funds, without risk of future reversal, even in the event the check returns unpaid. Cachet Financial raised nearly $6 million in its Initial Public Offering last July when the company sold 4.5 million shares of its common stock to the public at a price of $1.50 per share.
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