April 15, 2013

Credit unions first to offer remote deposit capture for mobile cheque deposits

VANCOUVER – Credit unions will be the first financial institutions in Canada to offer remote deposit capture - the ability for members to use the camera in their mobile device to snap an image of the cheque they want to deposit and use their mobile banking app to deposit the item electronically. No more taking a cheque to a branch or an ATM. Deposit Anywhere is Central 1's branded mobile deposit service.

Central 1 is working with Meridian in Ontario, Affinity Credit Union in Saskatchewan and Westminster Savings Credit Union in B.C. to launch Deposit Anywhere as part of their mobile banking applications.

Starting on April 17, members of Westminster Savings can use Deposit Anywhere when they download the free Westminster Savings mobile banking app from the Apple App Store or iTunes. Meridian and Affinity credit unions plan to launch the Deposit Anywhere feature in May.

Deposit Anywhere will be broadly available for credit unions to begin implementation this June.

While research finds that two-thirds of the top 25 banks in the U.S. already offer RDC, the door for the service to be made available in Canada just opened up with regulatory changes being made by the Canadian Payments Association.

NCR Corporation is providing the software behind Deposit Anywhere. Led by its development lab in Waterloo, Ontario, NCR's APTRA(TM) Passport allows financial institutions to capture and consolidate business and consumer cheque deposits made from remote locations - branches, ATMs, businesses, homes or mobile phones - directly into back-office processing. NCR's software provides the backbone for mobile remote deposits at three of the five largest banks in the U.S.









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