Mobile RDC enables consumers to make check deposits by taking photos of checks with their smartphones and submitting those images via their mobile banking platform. The application is the newest innovation that is available as part of Diebold's MobiTransact® mobile banking platform, as a stand-alone smartphone application or a separate service to financial institutions looking for a more flexible image processing provider.

Using their mobile banking interface and the mobile RDC application, consumers initiate a transaction by selecting the account in which they want to deposit funds. They then take pictures of the front and back of checks to be deposited, enter the check amounts and verify transaction details before completing the deposit. Their financial institution's processing center handles the rest, with no requirement to submit paper checks. Consumers receive a deposit confirmation message and have the option to receive notification when funds are available for use.

"Consumers quickly understand the convenience of photographing a check with a smartphone to save themselves a trip to the bank or an ATM," said Mary Monahan, executive vice president and research director for mobile, Javelin Strategy & Research. "So, even though consumers are more likely to use mobile banking most often to check balances, move money and pay bills, mobile deposit has an oversized value as a mobile banking acquisition tool."

Diebold's mobile RDC solution provides opportunities for financial institutions to expand their reach and attract new customers who want to increase their use of mobile banking. The technology's convenience factor has the potential to bolster adoption and usage of the mobile channel and encourage customer retention. By shifting check deposit transactions from branches and ATMs to mobile devices, mobile RDC could also reduce institutions' check processing costs.

"Mobile remote deposit capture is an incredible time-saving convenience for consumers, who can now deposit checks from virtually anywhere. The solution gives consumers more control over their banking experiences, as they are no longer limited to making deposits in a branch or at the ATM," said John M. Deignan, vice president, chief marketing officer, Diebold. "The technology also benefits financial institutions through check processing efficiencies and improved customer service."

Mobile RDC gives financial institutions the flexibility to configure deposit options based on an individual's relationship with the institution, including his or her account balance, tenure as a customer and transaction history. For example, a financial institution may choose to limit the volume and amounts of deposits for underbanked customers. In addition, by establishing daily deposit limits per customer, institutions can mitigate risks associated with attempted check fraud and any lag time encountered with check image validation and processing.

Mobile RDC continues Diebold's innovation and leadership in mobile banking and deposit automation. The solution is flexible enough to be included as part of a deployment of the Diebold mobile banking platform - MobiTransact® - or integrated into a financial institution's existing mobile banking solution.

Separately, the company announced that with just a few taps on their mobile devices, consumers can make cashless person-to-person (P2P) payments via a new addition to the MobiTransact® mobile banking platform from Diebold, Incorporated (NYSE: DBD). This new offering is a simple, secure and fast payment option for consumers. The solution will help expand financial institutions' services in the growing electronic P2P arena - a market valued at more than $500 billion globally, according to CEB TowerGroup research.

MobiTransact mobile P2P payments enable banking customers to transfer funds to a person or business as easily and quickly as sending an email or text. The process links a customer's bank account with the secure PayPal network. Via their mobile devices, customers simply input a payment amount and the name and email address or mobile number of the party receiving payment. The MobiTransact P2P solution then sends funds to the recipient's PayPal account, where the recipient can make PayPal transactions or transfer the money to a bank account. Any recipient without a PayPal account is prompted to create one.


"Mobile makes P2P a true anyone, anywhere, anytime transaction, enabling people to transfer value in person or from half a world away," said Andy Schmidt, CEB TowerGroup research director. "Adding mobile capabilities to electronic P2P transactions enables financial institutions to better retain their customers - and increase profitability - while preventing disintermediation. Likewise, offering mobile payment services as a part of a larger mobile strategy amplifies the ability of institutions to sell additional products and services through the mobile device."

To help financial institutions promote mobile P2P payments, Diebold offers a variety of marketing support, including promotional emails, Web copy and wallet cards. Diebold can customize the skin of the P2P platform to match an institution's branding. As a result, outgoing payment notifications become a marketing tool, helping institutions promote their P2P payment offerings to recipients. Plus, when submitting payments, existing customers become advocates for the institution and its P2P payment solution.

"Diebold continues to expand our MobiTransact® mobile banking solutions to help financial institutions offer a wider variety of features that add convenience and enhance security for their customers," said John M. Deignan, vice president, chief marketing officer, Diebold. "Providing an intuitive person-to-person payment option gives institutions another tool to increase consumer adoption of the lower-cost mobile channel."

Mobile P2P payments are part of Diebold's growing portfolio of MobiTransact mobile banking solutions for banks and credit unions. This portfolio includes a mobile deposit capture platform that enables consumers to make deposits by taking photos of checks with their mobile devices. Diebold's MobiTransact Card CommandSM solution enhances self-service security by allowing consumers to use mobile devices to lock and unlock access to their automated teller machine (ATM) and debit cards. MobiTransact also includes a solution that allows consumers to enroll in mobile banking at the ATM.