BALTIMORE — Waving an iPhone, Fiserv executive Gary Brand told the NACHA audience: "This changes everything."

Then Brand explained why: the ease of use of mobile deposit apps on smartphones coupled with the ubiquity of those devices suddenly means that the ability to make remote mobile capture deposits is in just about every hand.

And consumers want it: 43% of people will switch financial institutions to get mobile RDC, Brand said at his presentation on Wednesday at NACHA’s PAYMENTS 2012 conference

As mobile RDC proliferates, "this will change everything in your relationship to customers," Brand said, because many members come into a branch only to make a deposit. Enable them to do deposits from their homes, or anywhere, and they probably will make many fewer branch visits.

According to Brand, surveys find that some 80% of financial institutions say they already have RDC or have plans to implement mobile deposit capture soon.

That puts the onus on laggard institutions to get plans moving, suggested Brand.

He optimistically predicted that institutions will be able to monetize mobile RDC, certainly for small business customers. In their cases, said Brand, the institution may offer value-added reporting that will help users see the value for money.

The willingness of individual consumers to pay for mobile RDC seems uncertain, but Brand said there is some survey evidence that suggests some consumers will pay, with 50 cents per deposit emerging as a commonly cited number.

Instant Insights /

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