The initiative will begin with a pilot program involving Town and County Bank, based in Salem, Missouri.
According to Fifth Third Processing, Town and County Bank’s customers will be able to deposit paper checks anytime, anywhere by taking photos of them via their smartphones and submitting them through a secure electronic application provided by 3i Infotech.
This new technology known as 3i Infotech eCapture mobile check deposit is being used by banks in the mid Atlantic and offers a superior user experience.
Fifth Third Processing Solutions and 3i Infotech will deliver the eCapture mobile check deposit solution to Fifth Third Processing Solutions’ customers via a software-as-a-service (SaaS) model.
3i Infotech provides the application, updates core banking systems and validates check images for Check 21 compliance using Mitek Systems’ mobile IMagePROVE technology.
All data is 128-bit encrypted and is designed not to store data or images on the smartphone.
3i Infotech North America chief revenue officer Jim McShea said this technology will enable Fifth Third Processing Solutions financial institutions to deploy on-demand mobile check deposit technology rapidly and at a low cost, enabling them to achieve significant return on investment while providing an entirely new level of convenience to customers.
