Cachet chosen by CU Mobile as deposit provider

Source: Cachet Financial Solutions, Inc.

Cachet Financial Solutions, Inc. (CAFN),a leading provider of mobile money technologies, has been selected as the preferred mobile deposit provider for CU Mobile Apps (CUMA), a new, customizable, and affordable mobile delivery solution designed to give credit unions a competitive edge.

CUMA is the latest product offering of a continued strategic alliance between ICUL Service Corporation (LSC) and CUNA Strategic Services (CSS). LSC currently provides payment solutions to more than 2,300 credit unions in 50 states. CSS is jointly owned by the Credit Union National Association (CUNA) and the state Leagues. Both organizations offer a variety of products and services designed to help their credit union members to compete more effectively.

"Credit unions need comprehensive, customizable, and cost-effective mobile solutions to remain competitive as well as attract the next generation of members," said Karen Duffy, LSC's EVP -- COO. "CU Mobile Apps, with Cachet's leading mobile deposit solution, is a powerful mobile platform that gives our credit unions the edge, not only to survive, but to thrive in the new age of tech-savvy members."

CU Mobile Apps, seamlessly integrated with Cachet's Select Mobile(TM) Deposit, heightens essential two-way communications between credit unions and their members. CUMA encapsulates the credit union's current banking solution and includes mobile deposit, integrated locator searches, P2P solutions, social media, and alert messaging, taking a credit union from an online banking or a mobile banking tool to a full service mobile branch experience. Among the many other capabilities, members can view special offers, request loan information, or integrate a mobile chat.

"Credit unions of all sizes are challenged today to keep up with the ever-changing and evolving mobile channel," stated Jeffrey Mack, president and CEO of Cachet Financial Solutions. "We're pleased to work with industry innovators like LSC and CUMA to help their credit union members to realize the value of the mobile delivery channel and our mobile deposit solution, to strengthen their position in the marketplace and capture new members."

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