From the June 2012 issue of Treasury & Risk magazine

Remote Deposit Goes Mobile

J.P. Morgan rolls out a remote deposit capture app for mobile devices, and Bank Of America is close behind.

Remote deposit capture lets businesses scan checks and transmit the images to the bank, rather than taking checks to the bank to deposit. Now banks are making life even easier by rolling out remote deposit capture (RDC) applications for business customers’ mobile devices. In April, J.P. Morgan Treasury Services launched its Image Deposit Direct (IDD) Mobile RDC application, which is available on Apple devices. Bank of America plans to roll out a mobile RDC app in the first quarter of 2013.

J.P. Morgan piloted its app with six corporate clients, including Ben E. Keith Co., a Fort Worth, Texas-based beverage distributor with a fleet of 330 delivery trucks.

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