MINNEAPOLIS, July 8, 2015 (GLOBE NEWSWIRE) -- Cachet Financial Solutions (OTCQB:CAFN), a leading provider of cloud-based SaaS (Software as a Service) RDC and mobile money technologies to banks, credit unions, and alternative financial services providers, announced that it has established a partnership with Advanced Fraud Solutions (AFS), a leader in fraud prevention and risk management software.
Cachet's Select Mobile™ Deposit RDC platform will integrate with AFS's TrueChecks™ service to provide financial institutions with the ability to check deposited items against all RDC channels in real time, matching against AFS's databases, which are updated daily to reduce risk, detect duplicates and improve fund availability policies.
"Our collaboration with AFS provides our clients with unparalleled risk mitigation, making mobile deposits via Cachet's RDC solution fast, secure and reliable," said Jeffrey Mack, president and CEO of Cachet Financial Solutions. "This most recent product enhancement further demonstrates Cachet's proactive approach to helping financial institutions improve their ability to fight fraud."
Integration with AFS's database adds depth to Cachet's platform, enabling financial institutions to mitigate risk in real time, across all points of deposit capture. Risk mitigation is facilitated through configurable risk filters and workflow that allows for both human and automated review. Any checks identified as counterfeit, NSF, duplicate, or associated with a closed account, will be rejected, protecting Cachet's clients from associated losses.
"Our teaming with Cachet enhances the ability of its financial institution clients to authenticate mobile transactions quicker and more accurately," said Lawrence Reaves, CEO of AFS. "The partnership offers an unparalleled combination of external risk mitigation data in real time, without sacrificing the convenience customers get with remote deposit capture."
About Cachet Financial Solutions, Inc.
Cachet Financial Solutions is a leading cloud-based, SaaS technology provider serving the financial services industry with mobile money and remote deposit capture solutions for PC, Mac and mobile. Founded in early 2010, Cachet has quickly grown into a technology leader and trusted partner of some of the world's largest and most respected financial organizations. With remarkable growth, an impressive client base and award-winning technologies, Cachet continues to drive innovation and deliver world-class solutions to financial institutions of all sizes.
The company's industry-leading solutions help clients to increase customer engagement, grow revenues and gain competitive advantage. Cachet's cloud-based technology platform simplifies development, deployment and servicing of consumer and commercial solutions—minimizing cost and accelerating speed-to-market and ROI. Enabled by Cachet's complete suite of business and consumer solutions, financial institutions can better serve the needs of all their customers. For more information, visit cachetfinancial.com.
About AFS
Advanced Fraud Solutions delivers loss prevention tools for the front lines of financial institutions, providing same-day batch solution for identification of high-risk transactions that include frontline, remote, ATM, or additional channels. For more information, please visit AdvancedFraudSolutions.com.