mFoundry, the leading provider of mobile banking solutions in the U.S., today announced it has launched mDeposit Express, a standalone mobile deposit capture solution that banks and credit unions can use to provide customers with an immediate mobile deposit solution, regardless of their current mobile banking platform.
In an industry first, mDeposit Express can be converted on the fly into a complete, multi-mode mobile banking solution with a direct host system or home banking integration without any disruption to the mobile deposit service.
"More than 275 financial institutions currently use mFoundry for mobile banking," said Drew Sievers, co-founder and CEO of mFoundry. "There are many more financial institutions out there that just need mobile deposit capture today, or may be locked into a mobile banking solution that doesn't support mobile capture. With our new offering, they can deploy mobile capture today, with the option to seamlessly upgrade to mFoundry's full mobile banking product in the future."
mDeposit Express is available to all banks and credit unions immediately, and can be implemented in 30 days or less. Any financial institution can capitalize on the hottest trend in banking today, providing customers with the ability to make deposits using a compatible mobile device.
"There is no question that mobile capture is the 2011 'must-have' feature for mobile banking," said Bob Egan, Foundry & Chief Analyst at Sepharim Group. "We expect that many banks and credit unions will deploy a standalone mobile capture solution as a stop-gap solution for their customers, while they figure out their mobile banking and payments strategy. Institutions doing this, however, run the risk of having to market and service two technologies if they haven't got a clear path to integrated mobile banking."
mFoundry is able to offer the standalone, yet convertible, mobile remote deposit capture solution because of its adaptable product architecture. A scalable, hosted software platform combined with leading-edge mobile application technology, provides the most flexible foundation for deploying this type of convertible mobile deposit product.