|By Marketwired .||
|July 31, 2014 03:01 PM EDT||
MINNEAPOLIS, MN -- (Marketwired) -- 07/31/14 -- Cachet Financial Solutions, Inc. (OTCQB: CAFN), a leading provider of cloud-based SaaS and mobile banking technology to banks and credit unions, has received a notice of allowance from the United States Patent and Trademark Office (USPTO) for a patent application that covers aspects of Cachet's remote deposit capture (RDC) platform that allows users of Apple® OS X® and iOS operating systems to deposit bank checks using their Apple desktop, laptop or mobile device.
A notice of allowance from the USPTO is a written notification that a patent application has cleared internal review and may proceed to be granted.
Cachet was the first company to offer RDC for Apple devices, which are incorporated in Cachet's Select Business and Select Home solutions for banks and credit unions. The technology allows a banking customer to utilize a mobile device camera or desktop TWAIN check scanner to create a digital image of a check, validate the check's authenticity, and forward the check electronically to the their financial institution.
This capability eliminates trips to the bank and waiting in line, and provides faster access to funds, which ultimately saves the banking customer both time and money. For the bank, it also lowers check processing costs, since it avoids the need for a teller and handling of physical checks.
"Even with Apple's increasing popularity over the past several years, there remains a large segment of the RDC marketplace that use Macs and which continue to be underserved," said Jeffrey Mack, president and CEO of Cachet Financial Solutions. "The financial institutions that only offer PC-based RDC solutions are missing out on the opportunity to better serve all of their customers, and may be losing business to the banks that do. Our Select Business and Select Home product provide a turn-key, secure solution that is simple and quick to deploy."
Christopher Ebbert, executive vice president and CIO of Cachet Financial Solutions added: "Cachet has long been recognized for making innovative, industry-leading RDC solutions available to financial institutions and their banking customers. In 2010, we were the first to market with an RDC solution for Apple users, and this notice of allowance for a key patent reaffirms our position as an industry leader and supports our unique value proposition for potential customers."
Select Business and Select Home are designed to simplify the installation, deployment, maintenance and marketing of the RDC process. Financial institutions have greater freedom and flexibility when providing RDC to their customers, which can improve customer loyalty, strengthen existing relationships, attract new business and expand market share, all while reducing operational costs and increasing profitability. To learn more about Select Business and Select Home, contact Cachet at [email protected].
About Cachet Financial Solutions, Inc.
Cachet Financial Solutions is a leading cloud-based, SaaS technology provider serving the financial services industry with mobile money management and remote deposit capture solutions for PC, Mac and Mobile. Our industry-leading solutions help clients to increase customer/member engagement, grow revenues and gain competitive advantage. Cachet's cloud-based technology platform simplifies development, deployment and servicing of clients' consumer and commercial solutions -- minimizing cost and accelerating speed-to-market and ROI. With our complete suite of business and consumer solutions, financial institutions can better serve the needs of all their customers/members. 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 8K filed with the Securities and Exchange Commission on February 12, 2014 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.
Apple, Mac, OS X are trademarks of Apple, Inc. Select Business and Select Home are trademarks of Cachet Financial Solutions, Inc.
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