Mobile RDC: What’s the hold up?

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11 August 2009


  • I have spoken to many banks and credit unions about mobile RDC. There's a genuine interest in offering the feature, but most are just not ready because they haven't got mobile figured out in general.

    It's difficult for a bank without mobile banking to jump directly to mobile RDC because of the risk, perceived or otherwise. Banks with existing mobile banking implementations generally are trying get their arms around what they have. Many banks consider their initial mobile banking implementations to essentially be a pilot, a basic first step.

    In general, banks are still wrestling with developing a mobile strategy. Mobile RDC has a bright future in the U.S. and is likely to pick up steam as the economy improves and efforts like those at USAA demonstrate the clear benefits.

  • Bob,
    With your contacts among the bankers, can you provide some information on the types of criteria the banks apply before granting access to consumer RDC, especially, phone capture? I am sure the bankers will not want to be very specific, but I think it would be good to provide the industry and the general public with knowledge that some criteria will be applied and it is not simply a matter of having an iPhone and then I can deposit my checks. Thanks

  • Bill ... excellent question. I'd be interested in any information Bob can share from his banker contacts, too. From what I've learned about USAA's use of mobile capture ... it is being offered to their loan and insurance members ... those that have already essentially gone through a credit check with them.

    Bob ... another question ... how far away are we from mobile payment adoption? Why accept a check when you can instead look for a P2P or mobile to mobile option? Are we looking at 2-3 years or 5 years or longer?

  • Seems to me, it's too early to cite any patterns in mobile RDC user eligibility requirements. For consumer capture (with desktop scanners) requirements vary. Minimally, some deposit history with the FI.

    I appreciate Chris's question - why all this technology around paper checks? Early results from consumer capture are showing surprizing average dollar amounts - between $800 and $1,200. Clearly, users are depositing a healthy number of pay checks. Not all P2P items in other words. Direct deposit is not a new invention

  • I suspect many of these checks are rent checks. iPhone owners match the profile of a landlord. Landlords often don't have a lot of checks to deposit, but they need to get them in quick for cash flow and they have stuff to do, other than drive to the bank.