Monday, February 7, 2011

Remote Deposit for Mobile Banking: Potential "Killer" App

You might have encountered remote deposit capture at an automated teller machine, where the ATM scans a check, or takes a picture of the front and back of a check, and sends it into the cloud for deposit, giving you a copy of the photo? Some think that sort of feature, available on a mobile phone, could be a "killer" app for mobile banking, which today in the U.S. market mostly offers ability to check balances and conduct other simple operations from a mobile device.

But what if banking services also included the ability to snap a picture of a check, send it into the cloud, determine validity of check and get instant funds deposited to a mobile account. That might not be so valuable in the U.S. market, but could be quite useful in many parts of the world where the banking system is undeveloped.

1 comment:

James Black said...

Remote deposit capture would we one of the most used apps if it was made into a mobile application.

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