Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that BB&T Corporation, headquartered in Winston-Salem, N.C., has selected Mobile Source Capture(TM) from Fiserv. As a result, the $174.8 billion bank will be able to quickly make smartphone-enabled check deposits available to its clients.
"BB&T wanted to be responsive to our clients' needs by offering this innovative solution. Fiserv helped make our implementation plan a reality," said Patricia Kinney, BB&T Mobile Banking manager. "By offering anytime, anywhere check deposits, BB&T moves mobile banking beyond the most common banking functions. This new capability adds value to our mobile banking clients and helps grow this important, untapped market."
BB&T is among the nation's top financial holding companies with its bank subsidiaries operating approximately 1,800 financial centers in a dozen states. An aggressive acquisition strategy and innovative approach to technology have contributed significantly to the organization's success.
In addition to its selection of Mobile Source Capture, BB&T also utilizes Branch Source Capture(TM) from Fiserv to streamline the capture and balancing of check deposits at the back office, and Merchant Source Capture(TM) from Fiserv to enable the check deposits from its business customers. The integration of these solutions creates an environment in which duplicate deposits from a smartphone, scanner or other channel are easily detected.
About half of all Americans who are already mobile banking users, nearly 30 million consumers, want to use their smartphones to deposit checks, according to Javelin Strategy and Research. As consumers transition from desktops and laptops to smartphones for everyday computing tasks, they increasingly expect to be able to deposit checks from their home, dorm room, workplace or travel location. For small businesses, especially those that provide services in the field, Mobile Source Capture can eliminate paperwork and improve cash flow by depositing checks immediately, including after hours.
"BB&T looked to our organization to help them quickly go to market with this innovative solution," said Gary Brand, director, Source Capture Optimization, Fiserv. "Today's consumers expect the highest levels of convenience in self-service banking options. BB&T's implementation of Mobile Source Capture positions the organization for increased market share and greater value for its current mobile banking customers, putting BB&T at the forefront of the mobile banking revolution."