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2,000 Banks Now Signed Up for Mobile Check Deposit

More than $150 billion have been deposited via mobile devices, according to Mitek.

More than 2,000 banks have signed up for mobile check deposit, an increase of more than 100% in the last year, according to a statement released Mitek, the inventor of mobile remote deposit capture. That includes all of the top 10 banks in the U.S., the statement added.

[For More On Mobile BAnking: Q&A: Bank of America’s Marc Warshawsky on the Future of Mobile]

Mitek said that total volume of mobile check deposits has also risen 250% in the last year, and estimates that around 11% of U.S. consumers have used mobile check deposit, the statement said. Mitek also said that it has a 100% retention rate among its customer banks that have signed up for mobile check deposit.

Consumers have so far deposited more than $150 billion using mobile check deposit, Jim DeBello, Mitek’s president and CEO, said in the statement.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

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User Rank: Author
4/2/2014 | 9:00:35 PM
re: 2,000 Banks Now Signed Up for Mobile Check Deposit
I don't think there's simply enough uses for a mobile insurance app as for a banking one. Not many people need to interact with their insurance co. on that frequent a basis.
Nathan Golia
Nathan Golia,
User Rank: Author
4/2/2014 | 8:24:40 PM
re: 2,000 Banks Now Signed Up for Mobile Check Deposit
Mitek powers some insurance customer acquisition software as well. Unfortunately I doubt anywhere near that many customers have used it to sign up.
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