Mobile Remote Deposit Capture is on Track to Hit Phenomenal Numbers in 2011

American Banker released an article earlier today that shed light on what they and others believe to be a significant increase that Mobile Remote Deposit Caputure in 2011. Mobile remote deposit capture has generated a lot of hype this past year, but only a few financial institutions have launched the service. That is expected to change in 2011 as banks seek to further differentiate their mobile and online services.

Here is a link to the article:
http://www.americanbanker.com/issues/175_249/mobile-remote-deposit-1030529-1.html

There is money to be made for banks:
The mobile banking consumer in the USA carries a higher balance than the average banking consumer and has a greater net worth, according to a report by Nielsen. While still only representing a small percentage of banking households, that number is increasing.

Nielsen examined the mobile banking user and found that 13.2 percent of households accessed their bank account via a mobile device in second quarter 2010 versus 20.8 percent who accessed their account via the bank’s customer service call center. While mobile access penetration is lower than other channels, it has grown from 11.6 percent in first quarter and call center access has remained relatively flat quarter-over-quarter.

Mobile banking users also bring greater value to an institution by maintaining higher average balances (US$64,303) versus (US$48,384) for the average customer and greater net worth (US$341,017) versus their online banking counterparts (US$313,346) or the market average.

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