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Dawning of a New Generation in Mobile Deposit Offerings

Tuesday, December 04, 2018 ( /

The 2018 Mobile Deposit Industry Study finds financial institutions moving toward a new generation of product development, where end-user experiences and functionality become table-stakes.
Mobile RDC continues to be a winning proposition for financial institutions large and small. And increasing numbers of FIs are upping their mRDC games by adding functionality and improving the end-user experience across customer segments. This was a key insight gleaned from the 2018 Mobile Deposit Industry Study, conducted by

“We’re entering the second generation of mobile deposit product offerings. It’s all about functionality and how customers use the product,” explained John Leekley, Founder and CEO of “Over the next few years, we expect product capabilities like auto-image capture and multi-check capture to migrate from nice-to-have feature functionality to table stakes.”, the de facto trade association for the RDC industry, regularly conducts surveys that track market trends. The 2018 Mobile Deposit Industry Study is the fifth annual study of Mobile Deposit trends. It elicited responses from 87 banks and credit unions ranging in asset size from less than $500 million to over $50 billion. Leekley presented highlights of the research during a November 29 webinar, which is available for viewing here on demand.

The study revealed that while most FIs offer mobile deposit to consumers, ever growing numbers have or are planning to roll out mobile deposit to small and mid-sized businesses (SMBs) and large corporate customers. It also found losses due to duplicate deposits – the only risk directly attributable to RDC – are minimal and for the most part limited to consumer offerings. “The industry is doing a much better job of managing risks associated with mobile deposit, and it shows: an overwhelming majority of FIs participating in this year’s study said the benefits of offering mobile deposit outweigh the costs and risks,” Leekley said.

Additional benchmarking trends revealed by the study and highlighted in the webinar include:

•    Length of time offering mobile deposit to different customer segments
•    Deposit limit policy approaches, by customer segment
•    Funds availability policies, by segment
•    Auto-image capture adoption, by segment
•    Multi-check capture adoption, by segment
•    Deposit notification capabilities, by segment
•    Check destruction policies, by segment
•    Pricing by segment
•    Reg CC policies and Restrictive Endorsement approaches, by segment, and
•    Implementation of more than a dozen different risk management tools

Take a Deep Dive into the Mobile Deposit Industry Study
The 2018 Mobile Deposit Industry Study is available for viewing on demand now in the Webinar Library at
“Every RDC product manager, and especially every mobile deposit product manager, should listen to this webinar as it provides actionable insights and information that can help in benchmarking their institution’s mobile deposit offerings against those of their peers, and providing a roadmap for successful product management” said Leekley.

The cost of the webinar, along with an electronic version of the presentation PDF containing close to 50 charts and graphs, is $299 ($200 for Members). Click here now to learn more and to view the webinar.


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