More than 3,300 financial institutions are using Fiserv Inc.’s remote deposit capture services, the technology vendor announced April 6.
The Brookfield, Wis.-based company’s customers, mostly banks and credit unions, have amassed more than 160,000 end users for the products, which include services that enable merchants and consumers to convert paper checks to digital images and send them to their financial institution.
More and more of Fiserv’s bank clients are using more than one of its remote deposit capture products, reflecting their growing comfort with the risk-management features of the products, Gary Brand, the company’s director of source capture optimization, said in an April 5 interview at NACHA’s annual conference in Austin, Texas.
“They put the infrastructure in place that handles risk,” Brand said, adding that the work for one remote deposit capture service supports others. œ
Mobile check-deposit software, which Fiserv began offering last year, also is generating demand, though Fiserv does not have any customers who are live with a service, Brand said.
Fiserv has signed contracts in the “significant double digits” with banks for the service, Brand said. Fiserv’s mobile-capture software uses patented imaging technology from Mitek Systems Inc., a San Diego-based vendor that licenses its technology to other vendors and banks.
Mitek and its vendor partners signed 26 new agreements in the first three months of the year with banks and other customers, the company announced April 5. The contracts included two of the 10 largest U.S. retail banks, adding to the three Mitek or its partners signed in the previous quarter (
In February, Mitek said it signed JPMorgan Chase & Co., which initially offered mobile deposit applications based on software developed internally (
