Mercantile Bank and Trust Co. of Boston said it has increased its deposit base by offering business customers remote deposit software from COCC.
The Avon, Conn., technology vendor said Wednesday that Mercantile began using its remote deposit application 18 months ago under the brand name iDeposit Express.
The $139 million-asset Mercantile said many loan customers have been persuaded to open deposit accounts, and they have added $4 million of deposits, and could yield further cross-selling opportunities.
"Remote deposit has also opened the door to additional deposit services, such as merchant services. It's money we never had," Joseph Nicotera, a Mercantile senior vice president, said in a COCC press release.