Remote Deposit Changed My Life

by DeAndré Upshaw, Agency Entourage

OK, so that headline may be a bit of an exaggeration, but in all fairness, remote deposit has made my life easier – mainly because I officially have little to no reason to visit a physical branch.

I’m a member of several different financial institutions. One is a credit union and the other is a bank-that-shall-not-be-named (think Shmank of Shmamerica). The bank-who-shall-not-be-named recently rolled out an update to its mobile app that allows users to deposit checks from the comfort of their homes, offices, or even the McDonald’s drive thru. It doesn’t judge.

As I’ve noted in the past, Gen Y is incredibly averse to visiting branches if they can help it. It makes sense, because 88% of Americans own cell phones and of that number, 45% have smartphones.

I pulled up the app on my phone, grabbed a few checks that had been gathering dust on my desk (because of my aforementioned aversion to physical branches, I usually wait until I have multiple checks before I make the trip) and started scanning.

How would I describe the experience? Think about the first time you used a webcam to video chat with someone on the other side of the country. The first time you used a touchscreen phone.  The first time you went online shopping and received a package on your doorstep. That’s what this experience was like – not only did it feel space age-y and innovative, it felt totally natural and made me wonder why it took so long for this feature to come to my phone.

For many Gen Y-ers, visiting a branch is reserved only for depositing checks and withdrawing cash.  I manage all of my main accounts on my phone and laptop and branch visits are a last resort.

Using that remote deposit app, I got a glimpse of the future of banking. And the future doesn’t lie in dusty, darkened branches. It lies within our laptops, tablets and smartphones. We’ve got to keep moving forward. Invest in building online and mobile infrastructures for your members before your competitors do.

DeAndre Upshaw

DeAndre Upshaw

DeAndre Upshaw is a champion of social media tools and technologies that grew up forcing his family and friends to perform in short films he wrote, directed, and produced. They ... Web: agencyentourage.com Details