WILMINGTON, Del.--(BUSINESS WIRE)--
The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc.
(NASDAQ: TBBK), has announced a collaboration with Cachet Banq, Inc., a
national financial services company located in Southern California. The
Bancorp Bank serves as an ACH sponsor bank for payroll-related
transactions for Cachet Banq, Inc.’s clients.
“We are very excited about Cachet's alliance with The Bancorp Bank,”
said Micheline Chabana, Senior Vice President of Sales and Marketing for
Cachet Banq, Inc. “This collaboration provides our company and our
clients additional assurance for payroll funding transactions. Our
banking relationship expands Cachet’s Drawdown FedWire®
capabilities and demonstrates our commitment to providing the best value
and services to our clients now, and well into the future.”
“We are proud to be working with a reputable industry leader such as
Cachet,” said Frank Mastrangelo, President, The Bancorp Bank. “Our
shared commitment to innovation and specialized customer service is
proving to be a wonderful synergy in the payroll space.”
About Cachet Banq
Cachet Banq, Inc. (www.cachetbanq.com)
is a national financial services company and offers a variety of
services to corporate clients and the payroll service industry,
including ACH Processing, Payroll Tax Processing, Drawdown FedWire®,
and Settlement Account Services. Among other ancillary products and
services, Cachet offers Corporate Financing options exclusively to
payroll providers. As an experienced leader in the payroll service
industry, the Cachet family of companies provides payroll-related
services to approximately 65,000 employers nationwide and processes more
than $68 billion annually.
About The Bancorp, Inc.
The Bancorp, Inc. (www.thebancorp.com)
is a financial holding company that operates The Bancorp Bank, an
FDIC-insured commercial bank. The Bancorp Bank delivers a full array of
financial services and products, both directly and through private-label
affinity partner programs nationwide. Its payments offering includes
card issuing, card acquiring, ACH sponsorship, wire transfer services
and customized deposit account structures. The Bancorp Bank maintains
membership with numerous payments networks, including Visa®,
MasterCard®, Star®, NYCE®, PULSE®
and Discover®.
The Bancorp Bank
Andres Viroslav, Investor Relations, 215-861-7990
andres.viroslav@thebancorp.com
or
Cachet
Banq, Inc.
Jill Henderson, 949-225-3073
jillhenderson@cachetbanq.com
Source: The Bancorp, Inc.