Remote Deposit Capture RSS Feed
Remote Deposit Capture Newsletter
Remote Deposit Capture Group on LinkedIn
Remote Deposit Capture Group onTwitter
The Green Sheet

Email Page 
Print Page 
 Add to LinkedIn Add to Twitter Add to Facebook Add to Reddit Add to StumbleUpon 
Add to Tumblr
Poll Central: mRDC is on a Roll

Friday, July 29, 2016 (RemoteDepositCapture.com / Patti Murphy)

More consumers continue to make more deposits through the mobile channel, according to the latest industry pulse-taking by RemoteDepositCapture.com.
 
RemoteDepositCapture.com regularly takes the pulse of the RDC market through an interactive polling process we call Poll Central. This month we asked visitors about their use of mobile deposit. In response 85.7% said they use mobiles/tablets to deposit checks at their financial institutions.
 
As the accompanying chart reveals, about half of those polled deposit 3 or more checks a month using mobile devices. Those making 20 or more mobile deposits a month were 7.9% of the mRDC user total. The last time visitors were asked about their use of mRDC (during a period spanning from early 2015 to early 2016), 82.4% told us that they used mRDC, and 4.3% of that group said they were using mRDC to deposit 20 or more checks monthly.
 


“This is great news for solution providers and financial institutions offering mobile RDC,” said John Leekley, Founder and CEO of RemoteDepositCapture.com. “We weren’t surprised that more visitors are using mRDC. As the de facto trade association for the RDC community, we expect most visitors use RDC solutions, and mobile deposit is the latest iteration of RDC,” Leekley continued. “What really stands out for me, however, are the increases in deposit activity. It illustrates that once consumers try mobile deposit they become less inclined to use other channels for making deposits, such as branches and ATMs,” Leekley added.
 
Among the respondents in this latest Poll Central query, one in 4 reported making between 3 and 4 mobile deposits a month. More than 14% of those polled said they deposit between 5 and 9 checks a month using the mobile channel.
 
The latest industry-wide data, reported earlier this year by the American Bankers Association, indicates that one in 7 Americans with bank accounts use mRDC. Among those consumers, 54% make mobile deposits at least once a month, according to the ABA’s data. More specifically 27% of consumers reported using mRDC once a month, 12% are twice a month mobile depositors, and 15% make 3 or more mobile deposits. Forty-eight percent reported making fewer than one mobile deposit monthly, the ABA reported.
 
Mitek, which developed the technology underlying a majority of mRDC solutions operating in the U.S. reported recently that its mobile capture solution has been used now to facilitate over 1 billion mobile deposits totaling more than $400 billion. Mitek claimed the technology has saved consumers 416 million hours in trips to FI branches and ATMs, while also saving banks $2.5 billion in paper check handling costs. ‘[T]oday with less than 5% of the total number of checks being deposited through a mobile device we are just getting started,” said Mitek Chairman and CEO James DeBello.
 
Poll Central
Poll Central is a monthly feature of RemoteDepositCapture. Thousands of unique visitors come to RemoteDepositCapture.com each month to learn and exchange ideas about RDC and payments. And each month we post questions and encourage visitors to let their views and experiences to be known on a range of topics related to RDC. This month we’re asking visitors following question: Which RDC capabilities / functionality hold the greatest opportunity for innovation / improvement?
 
Please take a moment to let us know your thoughts. Click here.


Email Page 
Print Page 
 Add to LinkedIn Add to Twitter Add to Facebook Add to Reddit Add to StumbleUpon 
Add to Tumblr





Please register/login to post comments