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The Green Sheet

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The Majority of Consumers Will Soon Be Using Mobile Deposit

Wednesday, June 26, 2019 (RemoteDepositCapture.com / RemoteDepositCapture.com)

An article we published on June 4th (Survey Finds 1 in 4 Consumers Now Use Mobile Deposit) cited  Mercator Advisory Group which determined 25% of consumers now use Mobile Deposit. At first, this sounds great, but I must admit, I would have expected that real number to be higher. Some of our own research indicates many financial institutions are now seeing 50% or more of their consumer deposits coming in from Mobile Deposit. Furthermore, we estimate over 80% of all financial institutions now offer Mobile Deposit. In fact, based upon data from the 2018 Mobile Deposit Industry Study, over 2/3 of financial institutions currently offering Mobile Deposit have been doing so for at least four years now.



All research we have seen points to continued growth in offerings and usage of Mobile Deposit. Part of that is due to increasing awareness and availability, and part of that is due to improvements and investments in technology capabilities and a better user experience. During the month of June we polled our site visitors to see if they have used Mobile Deposit within the past month – 68% did. This may show a short-term ceiling on potential “full” adoption rates because who would be better suited to use Mobile Deposit than RemoteDepositCapture.com’s readership?!?! Still- the overall adoption rate has a long way to go if just 25% of consumers are using Mobile Deposit Today. In summary, overall consumer adoption of Mobile Deposit should more than double from today’s numbers.

About RDC Poll Central
To participate in close to a dozen ongoing polls, please visit RDC Poll Central. Once you vote, you can see the overall results of each poll. -And be sure to participate in this month’s new poll: “Has your Financial Institution suffered a LOSS due to duplicates in the past year?”.


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