Ohio-based LCNB National Bank has chosen Cachet Financial Solutions as its new mobile deposit solution provider.
Cachet said its Select Mobile Deposit cloud-based software solution will enable the bank’s customers to deposit checks via their mobile devices.
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The solution will support unlimited business groups, with defined rules per group for acceptance of check deposits.
The technology provider further said that as the relationship changes, the bank will be able to move a customer up to the next level of deposit acceptance such as higher deposit limits, and higher limit per day.
The solution will also accept deposits throughout the day, thereby facilitating faster deposits and improving customer experience.
The bank plans to start rolling out the mobile deposit solution to its mobile banking users by June 2016, through integration with its mobile banking provider.
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By GlobalDataLCNB National Bank executive vice president Eric Meilstrup said: "Cachet’s easy and secure mobile deposit solution is the perfect complement to our suite of banking services. Advanced risk mitigation and seamless integration with our mobile banking provider made it an easy decision to deploy Cachet’s mobile deposit solution to help us better serve current customers and reach new markets."
LCNB National Bank operates in 36 locations, managing $1.2bn in assets. The bank offers a range of personal and business banking services including checking, savings, online banking, personal lending, business lending, business support, deposit and treasury, investment services, trust and IRAs and stock purchases.
