Wausau Financial Systems, a provider of payment and receivables processing headquartered in Mosinee, Wis., recently announced that three banks have signed up for its mobile remote deposit capture (RDC) solution. The solution is part of the company's Deposit 24/7 Suite, and allows secure check depositing from any location via a camera-equipped smartphone.
NewDominion Bank, based in Charlotte, N.C., said it chose the Wausau mobile RDS product because its risk monitoring features would allow the bank to monitor security and maintain regulatory compliance. "For NewDominion Bank, risk monitoring played a large factor in our selection, and Wausau offered us the most comprehensive reporting and monitoring tools, easing our insecurities around mobile," said Tracey McLean, director of sales, marketing and retail operations for the bank.
Farmers State Bank of Calhan is an $180 million community bank based that has only three branches in El Paso County, Colo. The bank said that the solution may help retain and gain customers in areas where it doesn't have branches. "As more and more financial institutions build branches in our market, our mobile RDC offering will help us retain customers who otherwise may have considered an institution closer in proximity to their home," said Randy Pieper, CEO of the bank. "Essentially, with WAUSAU's solution we have eliminated the need for a branch on every corner, because now there's one on every cell phone. We see this appealing to our existing client base, which includes many area businesses where checks are the primary currency, as well as the upcoming generations of customers."
Similarly, Wellsboro, Pa.-based Citizens & Northern Bank ($1.3 billion in assets) said that it signed up for the solution to help differentiate its services and attract new customers in a rural area while keeping up with tech-savvy customers. "Our customers have shown they not only respond to, but embrace, technology," said Shelley D'Haene, Cash Management Coordinator at the bank. "Given our rural footprint, we determined that mobile RDC would be a great fit."