SAN FRANCISCO, CA — (Marketwired) — 08/20/15 — announced today that it has initiated coverage on Cachet Financial Solutions, Inc. (OTCBB: CAFN), a leading provider of cloud-based SaaS (Software as a Service) mobile money technologies to banks, credit unions, and alternative financial services (AFS) providers, with a twelve-month price target of $2.50. Ross Silver, Principal Analyst at Vista Partners, stated, “CAFN offers clients Remote Deposit Capture (RDC) a service that allows a business or consumer to scan checks and transmit the scanned images to a financial institution for posting and clearing or, in the case of Financial Service Organizations (FSOs), cashing and loading remotely to a prepaid debit card. RDC has been called an important development in the banking industry by the Federal Reserve and others. CAFN has stated that they believe that most major financial institutions in the United States have either launched the service, or are well on their way to doing so.” Mr. Silver concludes, “The FSO market represents more than 350 million transactions per year, involving approximately $106 billion in various products and services.”
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