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Mobile remote deposit capture transactions jumped 35% in 2017 over the previous year thanks to an increase in users, a software firm specializing in digital-banking applications for community banks and credit unions reports.
“For banks and credit unions live for all of 2017, mobile deposits grew by an average of 35%,” Austin, Texas-based Malauzai Software Inc. said Wednesday in its latest “Monkey Insights” report. “Key metrics such as average value ($525) and number of deposits per month (2.6) stayed constant so the growth was in number of users. More people are using mobile banking to deposit checks.”
The report is based on December data from 400-plus financial institutions covering 17 million logins from 885,000 active online and mobile-banking users.
Consumer remote deposit capture remains mostly a smart-phone-based activity, but 2.5% of the deposits came in through desktop computers, according to Malauzai.
Apple Inc.’s iPhone dominates mobile banking: the number of active iPhone users rose 35% last year versus a 25% increase for users with smart phones running Alphabet Inc.’s Android mobile-operating system. Some 65% of the active mobile-banking base uses iPhones, Malauzai says. “Even with the lack of innovation on [Apple’s] iOS platform, iPhone is gaining market share when it comes to mobile banking,” the report says.
