Banking by iPhone?


The ability to remotely deposit personal checks has spilled over from commercial to personal usage, thanks to new smartphone applications. For several years, businesses have used desktop check scanners to capture front and back images of checks as well as MICR information to create a digital image for deposit. Remote deposit capture, as it is called, enables deposit data to be easily and securely uploaded into a bank account—saving time and eliminating trips to the bank.

Now, individual banking customers are taking advantage of this same convenience through their smartphones. It’s just the latest step in “mobilizing” and changing the way consumers do their banking.

You’ve probably seen the Chase Mobile TV ad that shows a newly married couple scanning their wedding gift checks directly into their iPhone. Talk about convenient! They don’t even have to wait until they get back from their honeymoon to deposit the money into their banking account.

According to a survey conducted late in 2009 by Mercatus LLC, a strategic consulting and investing firm focused on retail financial services, consumers are expressing strong interest in mobile remote deposit capture technology. The survey found that a majority (60%) of current mobile banking customers “are likely to adopt remote deposit capture if the technology is offered by their banks.” Interest was strong even among customers who don’t currently use mobile banking services.

New mobile apps enable customers to deposit checks at any time and from anywhere. The increased convenience, faster access to funds, and time savings all play a role in quick adoption of the mobile technology. And mobile remote deposit is just the latest in mobile technology. As more and more consumers demand the convenience of mobile apps, forward-thinking rental housing organizations will do well to continue to look for new and interesting ways to incorporate mobile apps into their businesses.


Senior Vice President – Payments, Portals & CSM

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Kimberly has extensive expertise in rules and regulations to maintain compliance in support of the Payments system. She is certified by the National Automated Clearing House Association (NACHA) as an accredited ACH professional. She is also a member of the ACH Marketing Advisory Council Committee for SWACHA (a regional association of NACHA) and on Wells Fargo’s advisory board council. Before joining RealPage, she was the director of operations for RealPage’s payment partner, Select Payment (acquired by Jack Henry and Associates in 2006).

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