27 July 2016
Find out more

Mountain America Credit Union adds mobile remote deposit capture

19 October 2010  |  1649 views  |  0 Source: Mountain America Credit Union

Mountain America Credit Union announced today during the BAI Retail Delivery 2010 event, it has added mobile remote deposit capture capabilities to its mobile banking platform, enabling members to securely deposit checks with a camera-equipped smart phone, providing the added convenience of anytime, anywhere deposits.

The credit union has teamed with technology partner, Bluepoint Solutions, to launch the service.

"We recognize how important the mobile channel is to our members," said Tony Rasmussen SVP eServices, eServices for Mountain America Credit Union. "Most consumers today have around-the-clock access to a mobile device, and are managing much of their daily life from some sort of handheld device. We launched our first mobile banking application roughly six years ago and the interest in this channel has increased exponentially in the last two years. Currently, we have more than 30,000 members using our mobile banking application. Our members view mobile capture as a necessity, therefore it was the next logical step for our overall mobile banking strategy."

Mountain America's members can now deposit checks from a smart phone by keying in the deposit amount and then -- using the phone's camera -- take photos of the front and back of the check. The application then automatically performs multiple quality assurance and image correction functions to minimize image distortions, such as skewing or exposure inconsistencies, and ensure the images meet Check 21 and mobile image-quality standards. All transactions are transmitted with multiple layers of security and, if necessary, can be traced back to registered smart phones, marked with time and location, to combat fraud.

Mountain America selected Bluepoint Solutions' QwikDeposit ToGo, which leverages Mitek Systems Inc. Mobile Deposit® software application. The platform has quickly become known within the financial services industry as the "Gold Standard" in image processing because of its unmatched ease of use, security, quality and accuracy.

Rasmussen added, "For our credit union, adding mobile capture was never a question of if we would do it - but rather, when - and with which technology partner. In today's market, it is critical to partner with companies that demonstrate stability, flexibility, as well as an ongoing commitment to innovation and modern technology. Our prior experience with Bluepoint, combined with the due diligence we performed during the research phase of this process, confirmed they exemplify the qualities we seek in a partner."

Once Mountain America completes its upgrade and install of mobile capture, it will accept check images from multiple capture points, including mobile, a member's home or business, and at the teller line. Using the newest version of Bluepoint Solutions' ImagePoint Hub, the credit union will have the ability to view any check image, at any point during the day, from any location - in real time - regardless of the check's capture point. This will allow them to manage multiple capture points from a central application and run fraud checks against the items no matter the deposit channel. Once items are checked for duplicates, CAR / LAR verification and MICR line correction are completed and then the cash-letter is created for forward presentment. Bluepoint's ImagePoint Hub provide a cost-effective, centralized check-processing platform that yields savings in time and money, as well as produces a streamlined workflow.

"Mobile capture gives credit unions the ability to offer members deposit capability from any location, at any time during the day-especially when combined with other capture points," said Hal Tilbury, CEO and founder of Bluepoint Solutions. "The exponential increase in the usage of smart phones and robust mobile banking applications illustrates a fundamental shift in how consumers prefer to conduct their financial transactions. For financial institutions who are looking to differentiate themselves in a crowded marketplace, the question is not should we implement mobile capture, but rather how quickly can we can get this service into the hands of our members."


Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comVisit VocaLink.comFind out more

Top topics

Most viewed Most shared
satelliteContactless Bitcoin startup Plutus Tap &am...
9359 views comments | 9 tweets | 4 linkedin
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9258 views 14 comments | 32 tweets | 38 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
7836 views comments | 18 tweets | 25 linkedin
hands typing furiouslyHow machine learning can cut costs on tran...
5941 views 0 | 9 tweets | 3 linkedin
Thomson Reuters and Imperial College form fintech and regtech research partnershipThomson Reuters and Imperial College form...
5910 views comments | 29 tweets | 16 linkedin

Featured job

Brussels (Belgium) or Paris (France)

Find your next job