Cachet Financial Solutions, Inc. will deploy its enhanced Select Mobile Deposit solution for Whitaker Bank Corporation.  The Kentucky-based bank, which has $2.1 billion in assets and 46 locations, expects to begin offering mobile deposit to its mobile banking users by April, 2016, via integration with the bank's mobile banking provider, MEA. Cachet's Select Mobile Deposit will enable Whitaker Bank's customers to use their smartphone or tablet to deposit checks electronically, anywhere, anytime, eliminating trips to the bank or ATM to deposit checks. Users will simply download the bank's mobile banking app and use the camera on their mobile device to snap a photo of the front and back of their check and then submit electronically for deposit to their financial institution.

Unique to Cachet's Select Mobile Deposit is the flexibility to allow unlimited business groups, with defined rules per group, regarding the acceptance of check deposits. As the relationship changes, Whitaker can move a customer up to the next level of deposit acceptance, i.e, higher deposit limits, higher limit per day, etc.  Additionally, unlike other solutions that only run deposits in batches at the end of the day, Select Mobile Deposit accepts deposits throughout the day, enabling faster deposits for Cachet's clients and their customers, and improving the overall user experience.