Catalyst News

Mobile Capture Success in 2020: It’s All About the Right Solution

by Catalyst Corporate | Mar 10, 2020

What do today’s consumers want from their products and services? Convenience. More importantly, they don’t just want it, they expect it. And, they expect it instantly.

The financial industry is no stranger to this undeniable trend, evident by the growing popularity of remote deposit capture services, especially mobile capture.

Results from the 2020 Mobile Deposit Benchmark Report show that “Mobile deposit was used by more than half of the consumers surveyed. In addition, 52 percent of the sample said that mobile deposit is one of the most important mobile banking services.”

Additionally, “Consumers between 18-24 use mobile capture about two-thirds of the time, a higher preference than any other age group. Even among older segments, with the exception of 55-64 year olds, mobile proved to be the preferred deposit channel.”

It’s no secret, the growing love affair with mobile capture continues to flourish. New data indicates the focus has shifted, and it’s no longer enough to simply offer a solution. It’s about offering the right solution.

According to a recent article from The Financial Brand, “As apps replace branches, their quality will determine how well banks and credit unions hold onto consumers, and mobile photo deposit in particular is a critical bridge between old banking and modern banking.”

And as further stated in the Benchmark Report, “two out of five survey respondents said they would use mobile deposit even more frequently if their institutions improve their offerings.”

How can credit unions improve their Mobile Capture offering?

It’s all about having the right solution. And, that starts with a simple evaluation of Mobile Capture providers.

“There are several important features to consider when evaluating Mobile Capture service providers,” said Catalyst Corporate Vice President of Sales Karen Coble.

“First, you’ll want to make sure the solution offers seamless integration with your mobile banking provider,” said Coble. Some solutions have limited integration. You’ll want to find a provider that can interface successfully and easily with your current mobile banking system.

It’s also important that your Mobile Capture offering has the ability to adapt to the evolving needs of your credit union and your members. “A comprehensive Mobile Capture solution should cover all the bases, from robust reporting to risk mitigation and advanced fraud protection,” she added.

Catalyst Corporate’s Mobile Capture offers all these benefits…and then some! From training and support to point-of-deposit fraud protection, our solution is designed to give your credit union and your members the convenience they expect from their mobile capture service. 

Ready to learn more, see more, or read more about our integrated Mobile Capture solution? Start here.