Study: Remote deposit capture most desired mobile banking app

Remote Check Deposits Linked to Increased Fraud

This blog previously discussed how more banks are using mobile applications. Encouraging customers to use apps for payments and other simple banking tools will benefit financial institutions and consumers.

Recent research shows that mobile check deposit has become the most sought-after application for consumers. According to a report from ath Power Consulting, one in three consumers would be willing to pay for mobile banking services, which is a 13 percent increase from 2012’s study results.

Banks have been responding positively to meet their customers’ needs. A Celent study found that in 2012, just 18 percent of banks had no plans to offer mobile remote deposit capture (RDC). That is a drastic drop from 2009, when 72 percent of financial institutions said they were not willing to offer such a feature.

However, there is also a slow increase in fraud when it comes to RDC.

“There are some examples of customers double depositing,” John Leekley, founder and chief executive of, an informational services company, told American Banker. “As is always the case with criminals, they are looking for new and different ways to exploit and game money from banks and consumers.”

Shirley Inscoe, a senior analyst at Aite Group, told the news source that there is always the risk of individuals attempting double deposits through RDC. It is important for banks to have appropriate fraud protection plans in place, to prevent such acts from occurring.

Fraud prevention software is crucial for financial institutions of all sizes, but especially those that are expanding into mobile technology. That way, they can guarantee the safety of their customers’ information as well as that of their company.

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