30 March 2017
visit http://events.sap.com/gb/fsi-forum-2017/en/home

Banco Sabadell introduces mobile cheque deposit

19 January 2011  |  13880 views  |  4 iphone apps on screen

In a European first, Spain's Banco Sabadell has added remote deposit cheque capture functionality to its mobile platforms.

The Instant Check feature, already available for iPhone and Android apps, enables users to take a photo of their cheque with a smartphone camera to make deposits without having to visit a branch.

The technology has already been introduced by some American institutions, including Chase, where cheques are still a popular payment method but Banco Sabadell says its offering is a European first.



Banco Sabadell's new Android app also displays account information in graphic form, lets users access favourite operations and find branches and ATMs through geographical location, displaying the information on Google Maps or Street View.

The bank also claims to be the first to give access to social networks from its native Android, iPhone and Windows applications, with access to its own Youtube, Twitter and Facebook spaces.

Comments: (4)

Denis Vacher
Denis Vacher - orange - paris | 19 January, 2011, 10:44

It's may be not the first one in Europe. In Denmark, Danske Bank recently launched a similar app for giro (postal cheque) scanning via mobile phone.

http://insiden.blogspot.com/2010/12/mobile-cheque-deposit-hits-europe-via.html

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Russell Burke
Russell Burke - The Central Bank of Ireland - Dublin | 19 January, 2011, 10:58

I wonder will this lead to the strange anomily that exists for some US bank customers when such applications can mean that getting paid by cheque means getting faster value than being paid by electroninc credit transfer?

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 20 January, 2011, 09:54

@Russell Burke: You've brought up a very interesting - and potentially sensitive - anamoly. The difference between technical capability and business model is already exposing such anamolies in the two e-payments schemes in India. RTGS for corporate payments works in realtime and NEFT for retail payments is specified to work as a T+2 scheme. However, lacking a separate technology backbone, NEFT transactions are processed over the RTGS platform. As a result, some banks give NEFT credits virtually in realtime, whereas others do so only after 2 days!

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Stanley Epstein
Stanley Epstein - Citadel Advantage Ltd - Modiin | 20 January, 2011, 14:12

It beats me why a bank would want to perpetuate an archaic payment system. Isn't it is about time that the cheque is finally put out of its misery?

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Chase adds cheque deposit and P2P payments to iPhone app

Chase adds cheque deposit and P2P payments to iPhone app

06 July 2010  |  10033 views  |  0 comments
Banco Sabadell gears up for iPad launch

Banco Sabadell gears up for iPad launch

23 April 2010  |  12922 views  |  0 comments
USAA launches iPhone cheque deposit app

USAA launches iPhone cheque deposit app

11 August 2009  |  12589 views  |  0 comments
Banco Sabadell partners Vodafone for staff mobile signature system

Banco Sabadell partners Vodafone for staff mobile signature system

19 June 2008  |  7903 views  |  0 comments
Banco Sabadell launches 2D mobile advertising campaign

Banco Sabadell launches 2D mobile advertising campaign

04 December 2007  |  6987 views  |  0 comments
Banco Sabadell and Telefónica team for 'instant banking' services

Banco Sabadell and Telefónica team for 'instant banking' services

29 May 2007  |  9201 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit abe-eba.euVisit capgemini.com

Top topics

Most viewed Most shared
Danish banks add Dankort payments to mobile walletsDanish banks add Dankort payments to mobil...
15196 views comments | 2 tweets | 7 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
13756 views comments | 53 tweets | 32 linkedin
MAS to roll out national KYC utility for SingaporeMAS to roll out national KYC utility for S...
12530 views comments | 33 tweets | 46 linkedin
hands typing furiouslyTwo key technologies driving Machine Learn...
8939 views 0 | 16 tweets | 4 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job