Fundtech, a market leader in global transaction banking solutions, today announced the launch of NetDeposit Mobile Express, a new mobile Remote Deposit Capture (mRDC) app for Financial Institutions (FIs) that are seeking a fast, easy and low-cost way to launch a mRDC service for their retail client base.
The app is available through the Fundtech service bureau and can be added to a FI's existing mobile banking app or offered as a standalone app. It is particularly well-suited for FIs that currently do not offer a mobile banking service.
Mobile RDC is a fastgrowing service that offers FIs an effective way to expand their client bases beyond their branch coverage area. While the largest FIs have adopted and heavily promoted mRDC, community banks and credit unions have been slow to adopt the new technology due to start-up investment costs and integration complexity. Now, with the introduction of Fundtech's NetDeposit Mobile Express, FIs can offer mRDC to customers in a cost-effective, easy-to-use way. Customers can log-in to a custom FI-branded mobile application, use an intuitive interface to take a picture of the check with their mobile device, and conveniently make deposits in a secure environment.
NetDeposit Mobile Express harnesses the power of Fundtech's flexible, centralized NetDeposit Suite to offer:
- Multilingual Support - Multiple language options for a custom user experience
- Locations and Contact features - user-friendly features to add value to banks' mobile offerings such as nearby ATM locations
- Real-Time Error Detection - Detects and corrects missing payee endorsement, duplicate suspects or image validation errors before submittal to ensure a positive deposit experience for customers
- Deposit Fraud and Detection - Flexible business rules allow FIs to tailor custom risk profiles to match their unique risk tolerance
- Secure Access - Selective provisioning, multi-factor authentication and no deposit data stored on the device
Celent Senior Analyst Bob Meara comments, "Over the past 12-18 months, large FIs have heavily advertised and promoted mRDC, and as a result, it has become a fastgrowing service, both in terms of consumer interest and adoption. FIs who are not yet offering mRDC would benefit from finding an expedited option so that they can get in the game. Fundtech's introduction of NetDeposit Mobile Express is well-timed in response to this marketplace need."
Danne Buchanan, EVP at Fundtech, says, "The launch of NetDeposit Mobile Express unlocks valuable new business opportunities for FIs in the US. We've taken the experience gained from being one of the largest providers of RDC solutions, with 25 of the top 100 banks, and created a new standalone mobile app for FIs desiring a cost-effective mRDC that easy to setup and being offering to client. By offering mRDC, FIs have the opportunity to enhance the customer experience, expand their operating footprint, and ultimately grow their business."