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Ingo Money was founded in 2001 as El Banco de Nuestra Comunidad®. El Banco combined traditional retail banking, including FDIC insured deposit products and credit products, with non-traditional services such as check cashing services for non-depositors. The servicing needs and underwriting complexity of its exceptionally underserved target consumer segment required El Banco to build specialized, proprietary operational and risk management platforms and develop custom modeling capabilities leveraging an array of non-traditional data sources. In October 2007, the company sold its branch banking operation to focus on its financial technology servicing and risk management capabilities and rebranded as Chexar Networks, Inc.

Between 2007 and 2012, the company provided check acceptance, decisioning, clearing and settlement services for traditional bank clients and alternative financial service providers, while building its infrastructure and platforms to extend servicing to ATM/kiosk and mobile servicing channels. In August 2012 the company acquired Clear Payments, Inc., a mobile deposit capture Check 21 settlement company, to secure the remaining infrastructure required to support mobile check cashing and prepaid card loading services for large financial institutions and alternative financial services providers.

January 2013 marked the commercial launch of the first immediate, non-provisional mobile check cashing service. The service, deployed for H&R Block® through the proprietary Emerald Card Mobile Banking App™, was also the first of its kind in the industry. In April 2013 Regions Bank became the first client and the only top 20 financial institution to launch an instant, guaranteed check cashing option in both its image-enabled ATM channel and its mobile servicing channel, a expansion of the branch service it launched the prior year.

Between January and April of 2013, the company’s consumer-direct mobile underwriting capabilities were stress tested and optimized through a broad scale beta test of the network-based mobile service conducted in partnership with Visa® and several reloadable prepaid card providers. At the conclusion of the beta, First Century Bank, N.A. and Ingo Money introduced the Ingo Money App, the first direct-to-consumer mobile check cashing service, which was adopted by more than one hundred prepaid card programs. In May 2013, the company re-branded as Ingo Money, Inc.

Throughout 2014, the company continued to expand its enterprise business and implement platform integration enhancements while deploying its network-based software development kit and co-branded mobile app platforms. It also continued to conceive and assess a variety of systematic, analytical and process-oriented risk management techniques to achieve additional reductions in mobile channel losses and higher customer approval rates. In December of 2014, the company announced the acquisition of Fuze Network to extend its account funding platform reach to more than one billion payment cards, accelerate deployment of its planned p2p payment and money transfer processing services and support just-in-time bill payment for its clients and their customers. The acquisition of Fuze Network closed in February 2015.

Today, Ingo Money creates mobile, kiosk and POS technologies that take the delay and risk out of checks to enable instant deposit to almost any bank account or prepaid card and to enable expedited payments to tens of thousands of credit card issuers and institutional billers.