Mobile Remote Deposit Capture is Growing!

Mobile capture is really picking up some momentum and is being talked about a lot. The potential for Mobile Deposit is GREAT, for you see more and more banks offering the service to their customers everyday. The great thing for all the banking customers is that the banks are most likely offering or going to offer mobile capture for free. It makes sense that a bank wouldn’t charge one of their customers for the service because it doesn’t cost them much beyond a licensing fee to offer it.

“American Banker” recently showcased an article that emphasized the importance and growth potential of Mobile Remote Deposit Capture. Here is a short summary below:

Over the years, remote capture services have become an important offering for business customers, and banks are now adapting this important technology for mobile phones in an effort to reach the mainstream.There are some bankers that are skeptics and believe that offering this service that allows anyone to deposit a check from anywhere at anytime could lead to an increase in fraud, but many analysts say the potential risks for fraud are very minimal.

The number of financial companies that are offering or testing mobile remote capture systems is growing every day, and observers are saying that the the idea is quickly catching on with payments executives, as they see it as a cost-effective way to impress their customers and potentially change the cost structure of branch banking.

“I’d be lying if I didn’t say this technology is going to be table stakes and we’d love to be on the forefront,” said Marc Sanders, the director of marketing at Royal Bank America.

The Narbeth, Pa., company is planning to roll out this quarter a mobile remote capture service that Sanders said would help solidify its relationships with small businesses in the area. Royal Bank began focusing on small businesses in earnest at the end of 2008, introducing a program called “Spur the Economy” and several services aimed at that market.

To read the full article at AmericanBanker.com, please Click Here.

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