Mobile deposit-capture specialist Cachet Financial Solutions teamed up with community financial institution (CFI) technology-provider Malauzai to deliver mobile-deposit capabilities to Malauzai’s clients.
Austin-based Malauzai has integrated Cachet’s Select Mobile Deposit API into its MOX Everywhere Suite to help CFIs offer customers a way to deposit checks by taking a photo. Cachet’s solution works well with Malauzai’s needs: It allows individual CFIs to define separate business groups and to set up different sets of deposit limits and rules for each group. This way a financial institution can increase a customer’s deposit limits over time.
This news comes after Malauzai CPO Robb Gaynor launched MOX Pay at FinovateSpring 2016 last month. MOX Pay allows CFIs to extend their current business-service offerings with a mobile wallet option that empowers business customers to publish payment-centric mobile apps.
Last year, Malauzai counted one million downloads of its SmartApps. The company has more than 400 banks and credit union clients covering 7 million logins from 400,000+ active end users.
Based in Minnesota, Cachet Financial Solutions debuted Select Mobile Money at FinovateFall 2014. The company partnered with PAYTOO mobile wallet last month to power the startup’s mobile account-opening process.