Mobile money technology company, Cachet Financial, is launching a co-branded option for its Select Mobile Money product, a reloadable debit card with a suite of smartphone-accessible account services.

Maryland-based Frederick County Bank is piloting the co-branded version of Select Mobile Money. The institution holds $330 million in assets and is in 5 locations.

The new option is an express version, which means banks receive a pre-configured set up of the prepaid card program, mobile app and cloud services. Additionally, Cachet handles card issuance, processing, and management. This hands-off approach not only lowers overhead costs, but also decreases time-to-market.

Select Mobile Money is aimed at prepaid customers, a typically underserved market. It is available for payroll, travel, student, and unlimited use programs.

Cachet reports that more than 300 financial institutions use its remote deposit capture technology, and it is hoping to tap into that base to increase adoption of the co-branded Select Mobile Money solution.

Cachet Financial Solutions demonstrated Select Mobile Money at FinovateFall 2014.