The $4.2 billion Digital Federal Credit Union in Marlborough, Mass., said it is now the first reported credit union to process more than $1 billion in remote check deposits from individual consumers.
The 350,000-member DCU was an early adopter of RDC technology, introducing it in March 2008. Since then more than one million checks have been deposited from PCs and now mobile devices, the credit union said.
DCU has been using the services of Vertifi Software LLC, a subsidiary of EasCorp in Burlington, Mass., for its RDC technology, adding mobile in April 2010 for iPhone and Android users and a standalone iPad app in July 2011. Through the end of 2011, more than 195,000 checks totaling more than $135 million were deposited by mobile, the credit union said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
