Over 2,000 banks have currently signed up for mobile cheque deposit service, according to California-based Mitek, which invented Mobile Deposit.
The institutions that signed up include all the top ten US banks. Banks are beginning to increase mobile deposit limits and expand availability, claims Mitek.
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According to the company’s estimates, around 11% of US customers have deposited a cheque using their mobile device.
Mitek CEO and president, James B DeBello, said they are pleased to see the continued adoption of Mobile Deposit.
"We continue to support the top 10 banks in the country, and coupled with our 100% customer retention rate, this further solidifies our leadership position in the market.
"We now estimate that consumers have deposited over $150 billion which represents more than 250% growth in cumulative deposit volume," DeBello added.
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By GlobalData
