FISC Solutions, a Maine-based back office services provider, has introduced a new mobile cheque deposit service, FISCapture Mobile, for financial institutions.
The new service is integrated with the bank’s existing mobile banking app and thus allows customers to safely deposit personal or business cheques using their smartphones with a single sign-on convenience.
According to the Federal Reserve Board’s Consumers and Mobile Financial Services 2013 report, 21% of mobile banking users have deposited a cheque using their mobile phones, double the incidence in December 2011.
The FISCapture Mobile features a risk monitoring tool that detects duplicate records, automatically corrects images and confirms whether the images meet accepted image-quality standards.
All transactions performed using FISCapture Mobile are transmitted with multiple layers of security, claims the company.
FISC Solutions client relations director Elsa McGary said they recognise how rapidly the mobile channel is growing and its importance to their clients and the banking industry.
"This service allows local community financial institutions to be competitive with what national banks are already offering," McGary added.