Deposit a cheque via smartphone? There’s an app for that

Want to deposit a cheque using your smartphone? Well, there’s an app for that. As long as you’re a credit union customer, that is.

Central 1 Credit Union, the central financial facility and trade association for the B.C. and Ontario credit union systems, teamed has teamed with three credit unions to shortly launch Deposit Anywhere, a new mobile banking app feature that allows users to deposit a cheque using their smartphone.

According to the company, the app will make credit unions the first financial institutions in Canada to offer remote digital capture. Essentially, a user will snap an image of the cheque and send it to their bank via the app, eliminating the need to visit the bank or an ATM.

“We’re constantly developing new, innovative ways for credit unions to meet the changing needs of their members,” said Oscar van der Meer, CTO at Central 1, in a statement. “We help them keep in the lead of the rapidly developing financial services market.”

Working with Central 1 to integrate the service into their respective smartphone applications are launch partners Meridian in Ontario, Affinity Credit Union in Saskatchewan and Westminster Savings Credit Union in B.C. Westminster Savings will launch the service in their free iOS app on Apr. 17, and the others will launch in May. Other credit unions will be able to offer the service beginning in June.

“Deposit Anywhere will provide a highly convenient and secure way for our small business members and individuals to deposit cheques without going to an ATM or branch,” said Maury Kask, senior vice-president and chief customer experience officer at Westminster Savings, in a statement. “We’re seeing rapid growth in the use of mobile banking and we know this time-saving feature will be very attractive to our members.”

The technology behind Deposit Anywhere was developed by NCR Corp. in its Waterloo, Ont.-development lab, and is used to support mobile remote deposits for a number of large U.S. banks.

“Mobile remote deposit capture gives members the freedom to access even more banking services on their own terms,” said Steve Nogalo, vice-president and general manager at NCR Corp. “From the moment the Canadian Payments Association approved remote deposit capture, Central 1 was eager to adopt this technology, and our work with them has been one of our fastest deployments to date – a true testament to Central 1’s commitment to making members’ everyday lives easier.”

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Jim Love, Chief Content Officer, IT World Canada

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Jeff Jedras
Jeff Jedras
Jeff Jedras is a technology journalist with IT World Canada and a member of the IT Business team. He began his career in technology journalism in the late 1990s, covering the Ottawa technology sector for Silicon Valley North and the Ottawa Business Journal. He later covered the technology scene in Vancouver before joining IT World Canada in Toronto in 2005, covering enterprise IT for ComputerWorld Canada and the channel for Computer Dealer News. His writing has also appeared in the Vancouver Sun & the Ottawa Citizen.

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