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The Green Sheet

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Despite Continued Growth in Mobile Deposit Usage, Losses Remain Low.

Wednesday, July 31, 2019 (RemoteDepositCapture.com / RemoteDepositCapture.com)

The RDC Industry Poll for July asked “Has your Financial Institution suffered a LOSS due to duplicates in the past year?". Given the continued growth in Mobile Deposit volumes, increase in the number of FIs offering Mobile Deposit and expansion in the number of users, one might expect the percentage of financial institutions incurring losses to increase. However, according to the results from this recent industry poll, losses have remained low and may actually be declining.



Only 25% of respondents indicated losses due to duplicates in the past year in this recent poll. This compares to just 26% reporting losses due to Mobile Deposit according to results from the 2018 Mobile Deposit Industry Study (undertaken in Q3 2018).

Financial Institutions continue to improve their risk management capabilities and are becoming more effective at managing risk and preventing losses. From duplicate verification databases and trial periods for new customers to endorsements and dynamic limits and hold assignments, FIs have an increasing number of tools at their disposal to protect themselves and their customers. This growing list of effective risk management tools and increasing comfort with Mobile Deposit begs the question: Will banks finally begin to increase Mobile Deposit Limits for their customers? You can weigh-in on this question by answering the industry poll for August: “For the average customer at your FI, how have DEPOSIT LIMITS changed in the past year?

About RDC Poll Central
To participate in close to a dozen ongoing polls, please visit RDC Poll Central and scroll. Once you vote, you can see the overall results of each poll.

 


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