The mobile banking technology provider mFoundry Inc. now offers a stand-alone mobile remote deposit system.
The Larkspur, Calif., vendor said banks and credit unions can use the mDeposit Express system to offer an option for depositing checks by photographing them with a mobile device's built-in camera. Though it is a stand-alone application, mDeposit Express can be expanded into a fuller mobile banking system, mFoundry said.
The system is designed for "financial institutions out there that just need mobile deposit capture today, or may be locked into a mobile banking solution that doesn't support mobile capture," Drew Sievers, an mFoundry co-founder and its chief executive, said in a press release Tuesday. "With our new offering, they can deploy mobile capture today, with the option to seamlessly upgrade to mFoundry's full mobile banking product in the future."
Bob Egan, chief analyst for Sepharim Group, said in the release that "mobile capture is the 2011 'must-have' feature for mobile banking," and that "many banks and credit unions will deploy stand-alone mobile capture solution as a stop-gap solution for their customers while they figure out their mobile banking and payments strategy."
