News

Cachet Financial Services finesses risk mitigation platform

August 16, 2013

Cachet Financial Solutions, a provider of RDC technologies, has announced an upgrade to its risk mitigation platform, CheckReview, which is integrated with the company's mobile and flat-bed consumer RDC products. The upgrade allows clients in the financial services industry to assess checks in real time with flexible controls and advanced monitoring.

The upgraded CheckReview platform lets clients segment their RDC users into groups. CheckReview administrators can implement Know Your Customer best practices by setting custom deposit limits for groups.

This enables the financial institution to "graduate" customers or members based on their account type, status, and history.

Within groups, administrators can also create custom fee structures, allowing a more tailored and targeted fee option. For example, a financial institution might add a fee to business account deposits, while allowing retail consumers to use the service for free.

"With the initial release of CheckReview, Cachet led the industry with real time verification of check images," said Jeffrey Mack, president and CEO at Cachet. "This upgrade incorporates best practices that we have learned since the initial offering and provides our clients with even greater control over their RDC programs."

CheckReview 1.5 also features advanced monitoring and security for signature and endorsement detection, as well as daily reporting. Additionally, the program allows greater user control with operator audit tracking and increased administrative functionality.

Read more about deposits/check 21.