Oct. 15 - Eastern Bank, one of the largest independent, mutually owned banks in New England with $8 billion in assets, has implemented WAUSAU Financial Systems’ mobile remote deposit capture solution from its Deposit 24/7 Suite. The new “Mobile Deposit” feature allows customers to remotely deposit a paper check using an iPhone or AndroidTM smartphone.
According to a recent Gartner report, consumer use of mobile banking has increased 74 percent in the past year alone. Javelin reports that more than one in four consumers find mobile deposit desirable or very desirable.
“Eastern Bank is committed to delivering solutions that fit our customers’ lifestyle. The addition of Mobile Deposit was a natural extension to our existing mobile banking solution,” said Barbara Heinemann, executive vice president and chief information officer at Eastern Bank. "Since launching the new feature in August, we've received a lot of positive feedback from our customers about the convenience of Mobile Deposit."
In addition to remote deposit capture functionality, Eastern Bank’s upgraded mobile application allows its mobile banking customers to find the closest Eastern Bank office or ATM by using their phone’s location services feature. The full-service mobile application is easy to navigate, allowing access to these features and more, all from one central location.
“Eastern Bank has developed a really impressive mobile banking solution, designed for its many customers that are on-the-go,” said Kathy Strasser, executive vice president of solution management for WAUSAU Financial Systems. “The one-stop application achieves the bank’s commitment to make managing money simple for its customers, a direction we’re seeing more and more financial institutions move toward.”
WAUSAU’s Deposit 24/7 Suite includes risk monitoring functionality that allows financial institutions and their clients to securely enjoy the benefits of RDC while complying with the Federal Financial Institutions Examination Council guidelines. The risk monitoring module in conjunction with Deposit 24/7 Mobile includes features such as duplicate detection, velocity and dollar limits, as well as image analytics.
Deposit 24/7 Mobile is powered by patented technology from mobile imaging innovator Mitek Systems, Inc. (NASDAQ: MITK) delivering the industry standard for mobile check capture, image recognition and image quality analytics.