CU Business Group goes with BankServ for mobile remote deposit

Source: BankServ

CU Business Group, the leader in business services for credit unions, announced today that it will partner with BankServ to provide mobile remote deposit, mobile banking, remote deposit capture and a variety of payment solutions to credit unions for their business members.

The deal makes BankServ's mobile RDC platform and mobile banking app available at a discount to CUBG's more than 375 member credit unions in 43 states.

CUBG chose BankServ's mobile systems for their scalability, and because of the company's experience as a mobile RDC vendor for some of the biggest names in the payments business, said CUBG president and CEO Larry Middleman. "Our goal is to make the latest business services technology available to credit unions of all sizes, which means making it simple to use and economical. BankServ has launched mobile remote deposit systems for PayPal and top-10 banks, but they also have systems that are within reach for even a small community credit union. That combination of experience and affordability created an ideal match for our credit unions and their business members."

BankServ's partnerships with leading mobile banking providers allow it to offer an mBanking system that lets the bank or credit union add or subtract features as needed. Thanks to the platform's modular nature, it can also be set up quickly and inexpensively, rather than as an expensive custom project. It also makes mobile remote deposit readily available even to financial institutions that do not already have their own mobile app.

Partnering with CUBG presents a unique opportunity to introduce mobile to a so-far underserved segment of the banking industry, says Danne Buchanan, BankServ's senior vice president and head of the company's Payment Solutions division.

"When a new idea comes along in the financial world, it's often the case that the largest institutions are the early adopters, and it takes years for the technology to trickle down to the rest of the industry," Buchanan noted. "By developing an affordable product, and by working with partners like CUBG early in the adoption cycle, we aim to provide the spark that leads to widespread availability. Mobile will soon be accessible to any bank or credit union that wants it, not just a select few who can afford it."

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