Mobile Deposit. Options for Consumer, Small Business and Corporate Customers. Tim Wilcox April 12, 2017

Transcription

1 Mobile Deposit Options for Consumer, Small Business and Corporate Customers Tim Wilcox April 12, 2017

2 RDC Market Update 2

3 Four trends defined the RDC market space over the past year Mobile RDC remains top of mind at financial institutions Consumed the bulk of the industry activity over the past year Most surveyed insitutions already had some sort of small business product There is healthy interest in further improvements in product efficacy Institutions are wise to offer business mobile deposit The majority of institutions have implemented a consumer solution with higher limits More capable products are available but institutions are slow to act on them Despite well-founded enthusiasm around mobile Commercial desktop RDC deployments continue to grow at a double-digit pace We are in the final stretch, but it may be a long one Risk and compliance finally appears to be in balance with banks desire to serve customers Institutions are actually behaving as if they want customers to deposit digitally Eligibility requirements are relaxing and deposit limits are rising RDC-related losses remain at or below established thresholds Source: Celent State of Remote Deposit Capture

4 Mobile is the new scanner, but desktop scanners aren t dead yet. Reflecting both the explosion in preference for all things mobile as well as the extraordinary convenience of mobile RDC" Source: Celent State of Remote Deposit Capture

5 Advice for financial institutions Think like your customers As payments slowly migrate from paper to electronic an integrated RDC/lockbox capability will become more important Serve small business with a two-tier product strategy Small business RDC adoption barriers are easy to overcome Use risk management capabilities available (instead of restrictive eligibility requirements an tight deposit limits) Businesses can well be served with mrdc multi-item deposit capability Larger businesses and those taking field-based payments, serve by extending desktop RDC with mobile capture Maximize utilization, not revenue Beyond the mobile banking feature, mrdc if done well, can become a mass market deposit- gathering channel This allows the migration of branch-based transactions to digital channels Freeing the branch channel to transform into the sales and service platform it must become Eliminating the use of one-size-fits-all deposit limit construct without undue risk The cost savings benefit of large scale transaction migration far exceeds the small revenue opportunity Source: Celent State of Remote Deposit Capture

6 FIS trends in consumer and small business mrdc Institutions are gradually lowering barriers to adoption Raising deposit limits Reducing eligibility requirements making mrdc available to more consumers and small businesses Most institutions make funds available as they do at the teller line (next day available funds FIS continues to see strong adoption of mobile deposit by institutions New integrated solution deployments for institutions of all sizes Institution customer organic growth continues as institutions lower barriers to adoption Sales promotions help drive adoption o $5 checks to make first mobile deposit o Branch promotions o Website and promotions Integrated approach streamlines enrollment: Enables lower operational cost and convenience for user enrollment Institution selects eligibility parameters Dynamic deposit limits can eliminate the one-size-fits-all barrier 6

7 FIS Xpress Deposit Update Consumer and Small Business Solution 7

8 RDC solution for consumers and small businesses FXD introduced in 2008; Mobile deposit added in 2010: ASP delivery Self-contained RDC application with complete support capabilities, risk controls, auto-approval, exception review and activity reporting Financial institution (FI) controls all deposit parameters enrollment, amount and velocity limits, holds, cutoff times, etc. FIS manages data center operations, software development and maintenance, compliance and audits, etc. 8

9 FIS consumer and mobile RDC experience 512 FIs in production 8.25 M+ end users enrolled in production FIS Consumer & Business Mobile Banking app enjoys the largest number of enrolled end users 17 top 100 institutions in production 3.2 M+ deposits processed monthly (98% is mobile channel) Six institution-developed Mobile Banking apps integrated with FXD More than 50 institutions in implementation $1.7 B deposited monthly (95% is mobile channel) Five Mobile Banking Vendors integrated with FXD 9

10 FXD Feature Summary FXD automated enrollment API Customer Name, eligible accounts, product code, product type Deposit limits Address Tenure Mitek MiSnap The Mobile Image Capture Experience FXD mobile deposit API Deposit account information and check image submission Response errors codes from initial IQA or accepted with Deposit ID Restrictive endorsement options Deposit history and check images request and responses IP Address of device for each deposit if FXD to track MISnap SDK option or manual photo Deposit automated approval Institution deposited item business rules Institution risk amount threshold 10

11 FIS DirectLink Merchant Commercial and Small Business Integrated Desktop & mrdc Solution 11

12 DirectLink Merchant has a responsive design 12

13 Delivers an enhanced customer experience Modern UI designed for ease-of-use Built-in functionality to enhance customer scanning experience DREAM auto corrects items that were scanned upside down and/or backwards Flexibility in Branding Bank logos Color schemes Custom terminology Responsive Design Look and feel of the solution remains the same regardless of the device 13

14 With both mobile and desktop integration DirectLink Merchant mobile deposit delivery options Delivered using any browser available now Standalone brandable native mobile app in development Mobile API for Integration to Mobile Banking apps in development Multiple check deposits from desktop or mobile device No amount entry during mobile check capture Manage and monitor while on the go Manage desktop and mobile deposits from a single platform Consolidated desktop and mobile deposit reporting Evaluate and track recent deposits Review and approve pending deposits Custom fields available for user entry (invoice number, customer account, etc. Export data captured from desktop or mobile to A/R system 14

15 Target commercial customers and small businesses with simplified capture on the mobile device Small Business customers Use of owned device Low-volume check deposits Field Agent Model and Workflow Image Capture Image/Item Processing Tools Custom remittance fields (e.g. route # or invoice #) Deposit Transaction Research Use Case Mobile Workforce Service companies Insurance agents Food Service companies Distributors 15

16 DirectLink Merchant Summary Initial product rollout June institutions live 26 institutions scheduled for implementation 1,650+ scanners deployed 175,000+ items deposited monthly Mobile capture beta institution begins full implementation May 2017 Mobile capture general release April

17 FIS DirectLink Merchant Mobile Deposit Demonstration 17

18 Questions 18

19 Tim Wilcox