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Mobile-Capture Deposit Limits Rise for Consumers as Banks Eye Under-Penetrated Small Businesses

Wednesday, January 31, 2018 (Digital Transactions / Jim Daly)

This story written by Jim Daly of Digital Transactions, discusses the recent release of our very own mRDC Industry Study Report. The story highlights just a glimpse of the data and insights available in the report.
The RemoteDepositCapture.com Team made sure to take some time to chat with Jim after wrapping up a great in person event: the RDC Forum San Jose. Next up: events in Long Beach, CA (tomorrow) and Atlanta, GA on March 29.

Below is an excerpt from the article:

Banks and credit unions across the board are increasing deposit limits for mobile remote deposit capture transactions, and with the consumer remote-capture market mostly conquered, financial institutions are turning their attention to small businesses.
Those are two highlights from RemoteDepositCapture.com’s 2017 study of the mobile-capture market. The Alpharetta, Ga.-based publishing and research firm obtained responses last May to July from 195 financial institutions of all sizes for its latest study of the market for depositing checks by having smart-phone users snap pictures of them and upload the images to their bank or credit union through mobile-banking apps.

The study found that 52% of the responding financial institutions set a daily consumer deposit limit of $2,001 to $5,000. Seventeen percent set daily limits of $1,001 to $2,000, while 8% have limits of more than $5,001.

Read the entire article here.
 
 


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