Check use may be on the decline, but those little slips of paper don’t seem to be going away. In fact, in its latest iOS update, BBVA Compass, a digital-forward bank, essentially doubled down on checks. The latest app update (v. 4.6) from BBVA Compass offers up a more robust remote-deposit capture.Read More
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It’s significant even when a large bank like Citibank or USAA launches an Apple Watch app — but how about when a one-branch bank in Oklahoma builds one? Wearables, and the new wave of mobile banking, are upping the ante for smaller banks. In what has been compared to an armsRead More
AUSTIN, Texas — American Express is overhauling its mobile check deposit for some of its accounts, an executive disclosed today. In an offhand comment during a presentation at the Digital Banking Summit here today, Stefan Happ, chief commercial officer, enterprise growth at Amex, revealed that the card company was “in theRead More
Banks have an opportunity to innovate their way out of today’s challenging business landscape, but first they need to actually innovate. Banks are not innovative organizations, and they lag behind other industries in the move to digital that has already upended consumer tech and media. Most banks would probably counterRead More
Bank of America might be lagging some of its competitors in mobile banking user growth, but the bank is increasing its remote deposit business at an enviable rate. The bank said yesterday that 13% of its deposits last quarter — or roughly $4.5 billion of a total $34.2 billion of newRead More
Mobile banking usage continues to advance in the US, with fully 39% of adults “with mobile phones and bank accounts” using mobile banking, up from 33%, the Federal Reserve reported today. This is the Fed’s fourth annual review of mobile banking in the nation. Here’s an excerpt from the report:Read More
The death of checks seems to have been greatly exaggerated. Mitek Systems is announcing a new product today, mobile check deposit for businesses. The product will work much like the consumer version, but has additional functionality, such as the ability to attach invoices or other supporting documents. Checks may notRead More
Bank of America Corp. released numbers on its mobile deposits and they are impressive. The key figure: 12% of all deposits at the nation’s second-largest bank are now transacted on mobile devices. Last quarter, the bank noted 10% of its deposits were mobile, so this number has grown 20% inRead More
So your new iPhone is quite a bit more powerful than your last one — sharper graphics, better photos, faster processing — great, right? It’s great for consumers, maybe, but not necessarily for software developers. Consider Kofax, Irvine, Calif.-based makers of an enterprise imaging and analytics platform with many bank customers. DaveRead More
One month ago, we wrote that GoBank, the mobile bank account from Green Dot Corp., had — at last — eased up on its mobile check deposit policies. The bank was infamous for its stiff risk management policies, holding personal checks for up to 10 days.