May 25, 2017 5:00 PM ET

Software

Company Overview of Digiliti Money, Inc.

Company Overview

Digiliti Money, Inc. provides cloud-based software-as-a-service (SaaS) financial technology (fintech) solutions to the financial services industry in the United States. It provides Select Mobile Money, a prepaid mobile money platform that links various mobile banking features with a prepaid debit card issued by financial institutions or alternative financial service (AFS) providers. The company also offers RDC product, including Select Business Merchant Capture, which provides the ability to scan and deposit checks from PC, Mac desktop computer, or mobile device; Select Mobile Deposit, which allows the ability to deposit checks anywhere and anytime by taking a picture of the front and back o...

dellFive Business Park G

18671 Lake Drive East

Minneapolis, MN 55317

United States

63 Employees

Phone:

952-698-6980

Fax:

952-698-6999

Key Executives for Digiliti Money, Inc.

Chairman, Chief Executive Officer and President
Age: 63
Total Annual Compensation: $314.8K
Chief Financial Officer and Executive Vice President
Age: 54
Total Annual Compensation: $191.7K
Chief Information Officer and Executive Vice President
Age: 53
Total Annual Compensation: $220.0K
Executive Vice President of Sales
Age: 58
Total Annual Compensation: $220.0K
Compensation as of Fiscal Year 2016.

Digiliti Money, Inc. Key Developments

Digiliti Money, Inc. Partners with Cubus Solutions to Deliver Mobile Check Deposit to Credit Union Customers

Digiliti Money, Inc. has partnered with Cubus Solutions to add innovative mobile remote deposit capture (RDC) features and turnkey mobile RDC deployment capability to the Cubus online banking solution for credit unions. Cubus has integrated Digiliti Money’s Select Mobile Deposit platform with the Cubus One banking platform for credit unions, which gives members the power to take advantage of credit union services any time, from anywhere, by delivering seamless, real-time online/mobile banking through any device they choose. The first credit union went live on the platform in March 2017. The combined solution now gives Cubus One users the ability to deposit checks into their account by using the camera on their mobile device. From within the Cubus mobile app, they simply choose the account, enter the check amount, snap a photo of the front and back of the check, press submit, and they’re done. The check information is transmitted with multiple layers of security, including the ability to trace the transaction back to the submitting device. Once a check is submitted successfully, users are alerted that the transaction has been completed and funds are available. The process is quick and easy, and saves the time and expense of a trip to the credit union or ATM. Unique to Digiliti Money’s Select Mobile Deposit solution is the flexibility to allow defined rules per group. This allows credit unions to advance a member to a higher level of deposit acceptance, like higher single-deposit amounts or higher daily limits, as the account matures. The deployment for Cubus also includes new capabilities Digiliti Money is rolling out this summer that allow new processing rules based on additional field reads and enhanced fraud mitigation.

Digiliti Money, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017

Digiliti Money, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenue of $2.518 million against $1.460 million a year ago. Operating loss was $2.155 million against $2.110 million a year ago. Net loss attributable to common shareholders was $2.829 million against $4.929 million a year ago. Net loss per common share-basic and fully diluted was $0.83 against $3.01 a year ago. The improvement in net loss attributable to common shareholders was primarily due to improved operational performance and a decrease in certain non-cash charges. Revenue in the first quarter of 2017 increased 73% from the first quarter of 2016. The improvement was driven primarily by an increase in professional services, and to a lesser extent, by an increase in recurring revenue from the company’s RDC and Select Mobile Money solutions as a result of increased deployments, product enhancements, and transactions. Adjusted LBITDA (a non-GAAP term defined as net loss before interest, taxes, depreciation, amortization, stock-based compensation, and non-recurring items) for the first quarter of 2017 totaled $1.760 million, compared to an adjusted LBITDA of $1.613 million in the same year-ago period.

Digiliti Money, Inc Selects as a Photo Bill Pay Provider by Fidelity Express

Digiliti Money, Inc. has been selected as a photo bill pay provider by Fidelity Express walk-in bill payment and other POS financial services. Fidelity Express currently processes more than half a million walk-in bill payment transactions per month for consumers who visit their neighborhood payment locations in supermarkets, convenience stores and other retailers in 19 states. Digiliti Money will integrate its Select Mobile™ Bill Pay platform image recognition technology into Fidelity Express’ existing bill pay system to provide clerks with a quick, easy way to process their customers’ bill payments.  With the snap of a high-quality, digital image, transaction details are securely captured from a consumer’s bill stub and transmitted for processing. Select Mobile Bill Pay automatically extracts relevant data from the image and auto-populates the fields required in a bill payment application, eliminating the time and hassle of manual data entry.

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