Technology

Next Up: Mobile RDC

If 2011 is the year of mobile banking, 2012 might be the year of mobile remote deposit capture.

March 01, 2011
KEYWORDS mobile
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Mobile remote deposit capture (RDC) lets consumers deposit checks remotely using the cameras on their smart phones. Once mobile banking becomes commonplace, mobile RDC could become a differentiator.

Mobile RDC is ideal for credit unions with far-flung fields of membership or for those with few branches or ATMs.

Credit unions—notably NASA Federal Credit Union, Mountain America Credit Union, and Randolph-Brooks Federal Credit Union—are keeping pace with the national banks in terms of mobile RDC functionality.

And several large vendors—Fiserv, Jack Henry & Associates, and Fidelity National Information Services—announced in 2010 their ability to support mobile RDC for their bank and credit union clients using imaging technology from Mitek Systems.

It’s too early to tell how many credit unions will offer mobile RDC by year’s end. Industry experts say this isn’t a service to rush into. You need to evaluate which types of mobile phones to target and make sure members know how to use it.

“Our intent is to provide this service across all mobile phone platforms regardless of the device or carrier,” says Mary O’Rourke, assistant vice president of member service operations for Randolph-Brooks Federal. “We’re still working toward that goal. Not all mobile platforms, however, provide the ease of development that the iPhone and Android do. So the challenge is making the service universally available to most of our members.”

Some institutions that already offer the service say the next step is to speed up settlement times.

While deposited funds are usually available the next business day, some institutions say it can take up to three or four days for funds to appear in a member’s account after a check is captured with a mobile phone.

Coming soon to Credit Union Magazine:

  • HR Challenges. How to get the most out of employees.
  • Euro Lobbying. How our CU counterparts in Europe approach lobbying.
  • Boomers & Retirement. How CUs help older members—and hold onto their substantial assets.
  • Insurance & Risk Mitigation. Insurance providers offer a variety of tools to help CUs keep a lid on fraud.
  • Risk Management. How CUs can incorporate risk oversight into their strategic planning.

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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory (www.appreciationatwork.com/assess) will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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