Cachet Financial Solutions, Inc. (OTCQB: CAFN) is a leading
cloud-based, SaaS technology provider serving the financial services industry.
Since its founding in 2010, the company’s proprietary mobile money and remote
deposit capture (RDC) solutions have helped it grow into a technology leader, forming
partnerships with some of the world’s largest and most respected financial
organizations. This established position in the RDC market is expected to
provide Cachet with a platform for considerable growth moving forward.
According to a report by the Credit Union Times, more than 70 percent of U.S.
financial institutions have implemented or plan to implement RDC technology
within the next year.
In recent months, Cachet has continued to build upon its
industry presence, deploying RDC solutions for a collection of national and
regional banks. Most recently, the company announced an agreement with Los
Angeles-based 1st Century Bank to provide its innovative Select Business™
Merchant Capture platform for small business RDC capabilities, effectively
improving the ability of the bank’s customers to monitor and manage their
businesses while on the road.
“It’s very exciting to see the growing interest and demand
for Cachet’s Select Business RDC solution,” Jeffrey Mack, president and chief
executive officer of Cachet, stated in a news release. “Select Business is
helping more and more banks… improve market position by strengthening
relationships with their current business customers, attracting new business
customers and reducing costs by minimizing routine branch transactions.”
In the first quarter of 2015, Cachet leveraged the overall
marketability of its platforms to realize strong financial growth. By selling
37 new products during the three month period, the company increased its
estimated cumulative contract value by 70 percent over the same quarter in the
previous year. As a result, Cachet realized a 111 percent year-over-year
increase in total revenues, recording $1 million for the quarter. As of its
latest financial results, the company’s products were in use by 340 individual
bank and credit union customers, further demonstrating Cachet’s extensive
market growth in just five years of operation.
“We plan to build on our momentum as we move through 2015,
which will lay the foundation for more strong growth and profitability in
2016,” continued Mack. “Our success will be measured by signing new customers
as well as upselling and cross selling our existing customers, with this
leading to higher recurring revenue, and ultimately cash flow profitability.”
With an estimated 79 percent of adults between the ages of
18 and 29 now owning smartphones and scores of new consumers embracing the
mobile prepaid market each and every day, Cachet is in a favorable position to
capitalize on the ongoing evolution of the nation’s banking industry, promoting
sustainable returns for the foreseeable future. For prospective shareholders,
the company’s continued commitment to innovation and expansion of its customer
base combine to make it an intriguing investment opportunity in the months to
come.
For more information, visit www.cachetfinancial.com
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