October 11, 2012

First group of mobile users to begin using ING DIRECT's Remote Cheque Deposit feature

TORONTO-- Five hundred mobile users will be the first to try ING DIRECT's new Remote Cheque Deposit feature, an add-on to the bank's existing iPhone app. The Remote Cheque Deposit feature, called Cheque-In™, allows clients to take a picture of their cheque with an iPhone and have the money directly deposited into their ING DIRECT account. Those invited to participate in the preview will be encouraged to provide online feedback about the features of Cheque-In, a process similar to the way the bank launched THRiVE Chequing™ in 2010.

A recent survey commissioned by ING DIRECT found that over half of Canadians (55%) deposit at least one cheque per month to their bank account, either by depositing it in an ABM (71%), bringing it to a branch  (41%) or mailing it to their bank (1%). Over a third of Canadians (38%) are open to doing more traditional banking functions using their smartphone; this number jumps to 57% when looking at 18-34 year-olds exclusively.

Clients previewing the Cheque-In feature will be required to log in to the ING DIRECT mobile app on their iPhone and take a picture of both the front and back of their cheque. The client will then select which account they would like to deposit the funds to, and enter the full amount written on the cheque before confirming the deposit. Throughout the preview process, and until federal legislation is updated, Cheque-In users will still be required to mail in their cheques within 14 days.

ING DIRECT has also released a new Facebook app that allows clients read-only access to account balances, account history, pending transactions, alerts and interest rates without having to leave Facebook. The app, which can be found by searching "Orange Snapshot - ING DIRECT" in Facebook's search tab, enables ING DIRECT clients to interact with their bank accounts using the same concepts and features that are available throughout Facebook. All communication between the Facebook app and the ING DIRECT account is secured and encrypted, and no data is stored on Facebook, says the company.

"Security in banking is a natural concern for Canadians, particularly when new features and platforms are introduced. Our aim, first and foremost, is to protect our clients and their money, and we've implemented several features to ensure our Clients' accounts are secure when it comes to mobile and social banking," said Charaka Kithulegoda, ING DIRECT's Chief Information Officer.









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