CO-OP Financial Launches Deposits By Mobile Phone
Members of credit unions that use CO-OP Financial Services may soon be able to make deposits into their credit union accounts by taking pictures of them with their mobile phones.
Dubbed CO-OP My Deposit Mobile, the software will allow credit union members to take a picture of the front and back of their check, enter the check amount and complete the deposit, the payments and ATM CUSO announced.
"CO-OP My Deposit Mobile helps credit unions attract new members from growing consumer segments that expect flexible, easy access points to their accounts," said Stan Hollen, CEO of CO-OP Financial Services. "These members include the young, the tech-savvy and those who are cancelling their land lines in favor of mobile phones."
The service will be part of CO-OP's overall check imaging services which allows check imaging at home, in businesses and now on mobile phones, the CUSO said. The service, which CO-OP developed in partnership with mFoundry, will be available in the first quarter of 2011.