Canada’s Central 1 Credit Union, in coordination with three other institutions, is preparing to launch Deposit Anywhere, a mobile banking app that allows consumers to deposit checks using their smartphones.
The institutions will be the first in Canada to offer remote deposit capture—the ability of members to use their phone cameras to take a picture of the check and deposit it via a mobile banking app.
“We are constantly developing new, innovative ways for credit unions to meet the changing needs of their members,” Central 1 Credit Union CTO Oscar van der Meer said. “We help them keep in the lead of the rapidly developing financial services market.”
Central 1 has partnered with Ontario-based Meridian, Saskatchewan-based Affinity Credit Union and British Columbia-based Westminster Savings Credit Union to launch the remote deposit program.
Beginning April 17, Westminster customers can use Deposit Anywhere after they download the free mobile banking app. Meridian and Affinity customers will have to wait until May before they can access the app.
“Available through Westminster Savings’ mobile banking app, Deposit Anywhere will provide a highly convenient and secure way for our small business members and individuals to deposit checks without going to an ATM or branch,” Maury Kask, the senior vice president and chief customer experience officer at Westminster Savings, said. “We are seeing rapid growth in the use of mobile banking and we know this time-saving feature will be very attractive to our members.”
NRC Corp. is providing the software for the mobile banking app. NRC’s Passport allows financial institutions to capture and consolidate business, and remote check deposits are put directly into back-office processing. The company provides software for three of the five largest U.S. banks’ remote deposit programs.