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FIS Xpress Deposit with DepositShield
The way people bank is dramatically different today than it was in the past – accounts can be accessed and transactions can be performed online or via telephone, all without ever leaving home. But for most consumers, depositing a check still requires a trip to the bank or ATM. Given all of the advances in remote banking, why hasn’t consumer remote deposit become common as well, and what will it take to make this a banking option that community banks can offer to all of their customers?
As the first financial services IT provider to put a consumer remote deposit solution into production on a nationwide basis, FIS understood that more than just a capture solution was needed before most community banks would be willing to offer consumers the convenience of depositing checks from their own homes. Most community banks are concerned about the potential for increased fraud risk and have not offered this option to their customers. FIS recognized that further innovation was needed for this new technology to become a standard banking service.
Solution: FIS Xpress Deposit with DepositShield. By integrating a proven fraud prevention solution into the consumer remote deposit capture process, FIS has opened up the consumer remote deposit playing field to community banks. Historically, any type of consumer deposit innovation has been offered to only the “best” (lowest risk) customers. By reducing exposure to check fraud, FIS empowers community banks to not only offer this service, but to offer it to all of their customers.
Deposits are the lifeblood of any bank, and remote deposit removes many of the barriers associated with bringing in deposits faster and from a wider area than can be served by a branch network. By providing a new platform with the built-in security and structure that community banks need to offer this service, this product has the potential to greatly accelerate the availability of remote deposits for consumers while minimizing the risk for the banks.
Fidelity National Information Services Inc.
www.fidelityinfoservices.com