Sharetec Joins The 2012 Trend Toward Mobile Deposit

Dan Miller
1.800.860.4427 Ext. 2348

A fast and convenient way to deposit checks anywhere, anytime.

Lino Lakes, Minnesota
– June 12, 2012 – Sharetec, one of the top selling core systems in the country, announced today that is offering Mobile Deposit Capture (MDC).

Mobile deposit services are quickly becoming the wave of the future.  According to Thomas Powers, CEO of, Hudson River Teachers FCU in Mohegan Lake, N.Y., “MDC is a critical element to our long-term mobile banking package.  Mobile banking usage is projected to increase tenfold in the next three years.  The millennial generation makes decisions on who they will use for financial services by the depth of the institution’s mobile banking package – MDC will keep us in the game”.  

Sharetec, a progressive organization, recognized mobile deposit services as one of the fastest growing trends in banking technology.  For this reason, Sharetec is now offering Mobile Deposit Capture.  Mobile Deposit Capture allows members to initiate mobile-deposit sessions on their smartphone or tablets.  Making a deposit is as easy as keying in the deposit amount, snapping photos of the front and back of checks and sending it to the credit union.  Before transmitting the images, Mobile Deposit Capture formats the images and corrects any distortions or skewing and confirms that the images meet industry Check 21 and mobile image-quality standards.  All transactions are transmitted with multiple layers of security and, if necessary, can be traced back to registered smartphones in order to combat fraud.

Alliant Credit Union in Dubuque, IA will be the first Sharetec client to go live on Mobile Deposit Capture.  Mike Moroney, President/CEO of Alliant Credit Union said, “With our field of membership, we have members located throughout many states.  Having the capability for members to deposit checks remotely from their mobile device will be a huge convenience for those who live outside the area of any of our branch locations.  Since we released our mobile banking product last fall, our membership has asked for this added mobile service.  Mobile Deposit Capture will be a great addition to our mobile banking product.”

About Sharetec Systems, Inc. Headquartered in Minnesota, and sold through 4 owner companies, Sharetec is a leading provider of core data processing systems to credit unions.  Sharetec, a provider of both in-house and service bureau solutions, has a customer base over 300 and has grown 64% since the year 2000.  The Sharetec System is one of the most widely installed credit union software systems in the United States.

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