Cachet Receives Large Order from Top Tier Credit Union
September 9, 2014
MINNEAPOLIS, Minn. – September 9, 2014 — Cachet Financial Solutions, Inc. (OTCQB: CAFN), a leading provider of cloud-based SaaS mobile money management technology to banks, credit unions and other financial services organizations, has received an order from one of the top tier credit unions in the U.S. for Cachet’s mobile money management platform, Select Mobile™ Money. The order provides a contract value in excess of mid-six figures, as well establishes a broader platform with this client for rolling out additional Cachet products.
The credit union will deploy the award-winning Select Mobile™ Money to its member base, providing secure mobile access to account balance and transaction details, secure fund transfer between accounts, and easy card reloading.
Powerful back-end analytics and messaging capabilities will allow the credit union to segment cardholder behavior and send relevant marketing messages to keep its customers engaged in using the mobile application. The program is scheduled to go live by the end of Q3 2014.
“This significant order from one of the most respected credit unions in the U.S. demonstrates that our award-winning money management solutions are becoming an essential part of the mobile banking experience,” said Jeffrey Mack, president and CEO, Cachet Financial Solutions. “Cachet’s intelligent and customizable Select Mobile Money platform helps increase banking customer engagement, which leads to growth in recurring banking-related revenue, as well as provides unique competitive advantages for winning new banking customers.”
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. The company’s 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 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 or members. For more information, visit www.cachetfinancial.com.
Important Cautions Regarding Forward-Looking Statements
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.
Contact Information:
Darin McAreavey
EVP & CFO
Cachet Financial Solutions, Inc.
952.698.5214
[email protected]
Investor Relations:
Matt Glover or Michael Koehler
Liolios Group, Inc.
949.574.3860
[email protected]