As Check 21 wraps up its first decade, its impact has been considerable, to the point where the Federal Reserve has but one site left for processing [paper] checks…

The Check Clearing Act for the 21st Century “Check 21″ was passed by Congress in October 2003 and took effect a year later.

Then in 2010, remote-deposit capture went mobile, as vendors and financial institutions that saw a market for it hastened to get the service onto BlackBerry, Android and iPhone platforms, further extending to consumers the conveniences that had been reserved for the enterprise itself.

“The cost of handling paper checks is getting so much lower than it used to be that I think we may see a renaissance in their use and in checking accounts,” [Bluepoint CEO Hal] Tilbury said. “They’re also easier to secure against fraud than a debit card.”

“I see equal lines forming to get mobile and home capture solutions and I see teller capture taking over a lot of the back-office work associated with branch capture, but I don’t see checks going away anytime soon.”

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LAS VEGAS, Oct. 19, 2010 Mountain America Credit Union announced today during the BAI Retail Delivery 2010 event, it has added mobile remote deposit capture capabilities to its mobile banking platform, enabling members to securely deposit checks with a camera-equipped smart phone, providing the added convenience of anytime, anywhere deposits. The credit union has teamed with technology partner, Bluepoint Solutions, to launch the service.

“We recognize how important the mobile channel is to our members,” said Tony Rasmussen

SVP eServices, eServices for Mountain America Credit Union. “Most consumers today have around-the-clock access to a mobile device, and are managing much of their daily life from some sort of handheld device. We launched our first mobile banking application roughly six years ago and the interest in this channel has increased exponentially in the last two years. Currently, we have more than 30,000 members using our mobile banking application. Our members view mobile capture as a necessity, therefore it was the next logical step for our overall mobile banking strategy.”

Mountain America’s members can now deposit checks from a smart phone by keying in the deposit amount and then — using the phone’s camera — take photos of the front and back of the check. The application then automatically performs multiple quality assurance and image correction functions to minimize image distortions, such as skewing or exposure inconsistencies, and ensure the images meet 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 smart phones, marked with time and location, to combat fraud.

Mountain America selected Bluepoint Solutions’ QwikDeposit ToGo, which leverages Mitek Systems Inc. Mobile Deposit® software application. The platform has quickly become known within the financial services industry as the “Gold Standard” in image processing because of its unmatched ease of use, security, quality and accuracy.

Rasmussen added, “For our credit union, adding mobile capture was never a question of if we would do it, but rather, when and with which technology partner. In today’s market, it is critical to partner with companies that demonstrate stability, flexibility, as well as an ongoing commitment to innovation and modern technology. Our prior, experience with Bluepoint, combined with the due diligence we performed during the research phase of this process, confirmed they exemplify the qualities we seek in a partner.”

Once Mountain America completes its upgrade and install of mobile capture, it will accept check images from multiple capture points, including mobile, a member’s home or business, and at the teller line. Using the newest version of Bluepoint Solutions’ ImagePoint Hub, the credit union will have the ability to view any check image, at any point during the day, from any location “in real time” regardless of the check’s capture point.  This will allow them to manage multiple capture points from a central application and run fraud checks against the items no matter the deposit channel.  Once items are checked for duplicates, CAR / LAR verification and MICR line correction are completed and then the cash-letter is created for forward presentment. Bluepoint’s ImagePoint Hub provide a cost-effective, centralized check-processing platform that yields savings in time and money, as well as produces a streamlined workflow.

“Mobile capture gives credit unions the ability to offer members deposit capability from any location, at any time during the day, especially when combined with other capture points,” said Hal Tilbury, CEO and founder of Bluepoint Solutions. “The exponential increase in the usage of smart phones and robust mobile banking applications illustrates a fundamental shift in how consumers prefer to conduct their financial transactions.  For financial institutions who are looking to differentiate themselves in a crowded marketplace, the question is not should we implement mobile capture, but rather how quickly can we can get this service into the hands of our members.”

Mountain America Credit Union has 63 branches in four states, serves more than 343,000 members and has more than 2.8 billion in assets. Bluepoint Solutions is a Microsoft Gold Certified Partner and innovator in remote deposit capture (RDC), image-based item processing and enterprise content management software technology for financial institutions.

VISTA, Calif. July 8, 2010 Bluepoint Solutions, a Microsoft Gold Certified Partner and innovator in remote deposit capture (RDC), image-based item processing and enterprise content management software technology for financial institutions, announced the release of QwikDeposit To Go, a sophisticated mobile remote deposit capture application. Powered by Mitek Systems patented IMagePROVE technology, Bluepoint Solutions QwikDeposit Mobile Capture application completes Bluepoint’s existing suite of Check 21 capture points.

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“When implemented alongside our existing branch, teller, ATM, merchant and home capture applications, QwikDeposit To Go is an opportunity for institutions to provide a valuable service for account holders, while at the same time drive out operational and processing costs, as well as add efficiencies in the check processing timeline,” said Hal Tilbury, chief executive officer and founder of Bluepoint Solutions. “The fusion of Mitek’s advanced image quality technology with Bluepoint’s proven remote deposit capture and item processing aggregation engine provides institutions with a sophisticated and reliable mobile capture application. Having the ability to deposit checks at any time of day, regardless of location is a service that is extremely valuable to consumers.”

“The dramatic increase in the use of smart phones, combined with consumer demand for mobile banking applications has created a perfect storm for mobile capture,” adds Tilbury. “The emergence of mobile capture  is a direct reflection of a larger shift in how people interact with their financial institutions remotely, 24 hours a day, on their schedule, and on the go.  Financial institutions of any size must react to these trends to remain competitive.  QwikDeposit To Go is a tool designed to help institutions do just that and as a result grow existing accounts and attract new customers or members.”

In a recent Mercatus Mobile RDC Adoption Research Study, Managing Partner, Bob Hedges, stated, “We expect consumers to significantly embrace mobile remote deposit capture and it will be the ‘killer app.’ With consumers placing a premium on convenience, mobile RDC has the potential to significantly change retail banking’s business model by providing a way for people to do basic banking without branches.”

Bluepoint’s QwikDeposit To Go enables consumers to securely deposit checks with a camera-equipped smart phone, providing quicker availability of funds and added convenience. Account holders initiate mobile-banking sessions, key in their deposit amount and simply snap photos of both the front and back of the check with their smart phone cameras. The software captures the check, formats the image, automatically corrects any image distortions or skewing and confirms the images meet 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 smart phones, marked with time and location, in order to combat fraud.

QwikDeposit To Go relies on a patent-pending software application from Mitek Systems Inc. (OTC: MITK.OB; www.miteksystems.com), called Mobile Deposit®, which is being embraced widely by technology applications providers like Bluepoint Solutions and financial services institutions of all sizes for its ease of use, security and the industry leading quality and accuracy of its image processing.

Mobile Deposit complies with all industry standards ”including Check 21″and was developed specifically to help banking institutions take advantage of the growing consumer acceptance of smart phone applications for the mobile Web, including mobile RDC, with the utmost security for every transaction.

“We think of Mobile Deposit as the ‘Gold Standard’in mobile RDC because of the acceptance of our application by all the major integrators and ASPs that cater to financial institutions,” said Mitek CEO James DeBello. “We’re very pleased that our partnership with Bluepoint Solutions further validates that trend.”

Bluepoint Solutions gives institutions the option of selecting a full licensed version of QwikDeposit To Go or they can take advantage of Bluepoint’s unique monthly use-fee delivery model. Additionally, institutions have the option to operate QwikDeposit To Go within Bluepoint’s SAS70-certified data center, enabling small to mid-size institutions to compete with much larger, nation-wide banks without making a large financial investment. Also included with the solution from Bluepoint is a proprietary online Marketing Center that provides institutions immediate access to a repository of professional-quality marketing collateral including statement stuffers, email campaigns and a variety of signage to build awareness and promote the new mobile deposit offering to the community.

“Mobile RDC allows smaller institutions to compete with larger, nationwide banks,” said Tilbury. “By bringing down the cost of mobile capture technology and making it easy for our customers to deploy, we are empowering the small-to-medium banks and credit unions we work with to better retain account holders and attract new ones. There is a lot of demand for this technology among the small to mid-size institutions and we look forward to making it available to our customers.”

Allied First Bank’s customers move thousands of miles while they’re at work. To keep its airline pilot-heavy customer base from using larger banks to deposit checks while away from the area, the $160 million-asset bank plans to automate remote check deposits through consumer capture for personal computers. Allied First’s vp of operations, Andy Harden, and Bluepoint’s evp, Dick Drew, explained to Bank Technology News how Allied First will this spring be the first bank to deploy Bluepoint’s Software as a Service consumer capture product. SaaS allows the bank to deploy consumer capture at a cost based on use, with little up front tech expense. With Saas, it is not necessary for the bank to develop an entire system, they can deploy consumer capture at a cost based on use, with little up front tech expense. Bob Meara, a senior analyst at Celent, Ellen Carney, a senior analyst at Forrester, and Nicole Sturgill, a research director for TowerGroup are also quoted. See Bank Technology News for the full story.

VISTA, Calif. and Charleston, S.C. March 16, 2010. South Carolina Federal Credit Union announced that it has selected Bluepoint Solutions’ ImagePointTM Capture and Hub modules to electronically capture and aggregate check images. Bluepoint Solutions is a Microsoft Gold Certified Partner and innovator in remote deposit capture (RDC), image-based item processing and enterprise content management software technology for financial institutions.

Headquartered in Charleston, S.C., South Carolina Federal has approximately $1.3 billion in assets. The credit union operates 19 branches plus a lending center and offers 75 ATMs to serve its growing member base. Currently the credit union serves more than 150,000 members. South Carolina Federal plans to implement teller capture, merchant/business member capture, home/member capture and ATM capture, as well as ImagePoint Hub for aggregation and forward presentment of items. The credit union also selected Bluepoint’s Receipt Manager with Transaction Manager for advanced research.

“The implementation of Bluepoint’s suite of products will allow South Carolina Federal Credit Union to continue delivering on our brand promise ‘providing convenience to members,” said Joe Grech, chief financial officer, South Carolina Federal. “Allowing members to deposit checks from their home or business offers another LifeSimplified tool for members to connect with us. Additionally, we estimate a $500,000 savings annually in operating expenses from the implementation of Bluepoint solutions. This in turn can be used to develop new products and services that give members more convenient access to the credit union and their money.”

Additionally, the credit union cited the ease of integration with its existing core platform and the ability to purchase all points of capture from one provider as key factors in the decision. South Carolina Federal will be able to capture checks in real-time and at the point of presentment (teller, home/business, ATM) improving operational efficiencies, cost savings, fraud prevention and the overall member experience. Receipt Manager integrates with the existing teller transaction flow, by storing the receipt data and check image together electronically, while all captured images, regardless of point of presentment, are aggregated in ImagePoint Hub. Storing every image electronically at the point of presentment makes them available to authorized users throughout the entire credit union, reducing the research time needed to answer member inquiries.

“Bluepoint remains committed to helping credit unions leverage proven best practices, like capturing documents at the point of presentment, to not only save money, time and resources, but also improve the overall member experience,” said Hal Tilbury, founder and CEO of Bluepoint Solutions. “Given the current climate in the financial industry, we believe more and more credit unions will follow South Carolina’s lead and replace existing legacy capture solutions with sophisticated remote deposit capture strategies that leverage capturing items at the initial point of presentment. We look forward to working with the team at South Carolina Federal Credit Union.”

About South Carolina Federal
South Carolina Federal Credit Union is headquartered in North Charleston and serves more than 150,000 members that own and belong to the not-for-profit financial cooperative, which has over $1.3 billion in assets. South Carolina Federal is a community-chartered credit union. Anyone who lives, works, worships or attends school in Dorchester, Berkeley, Charleston, Orangeburg, Clarendon, Calhoun or Georgetown counties, and most of the Columbia area, is eligible to join. South Carolina Federal has 19 branches, a lending center and more than 75 ATMs throughout Charleston, Columbia, Georgetown, Orangeburg, St.Matthews and Manning. In 2008, South Carolina Federal for the second consecutive year was voted one of the Best Places to Work in the state. More information about South Carolina Federal can be found at scfederal.org or on the SiMPLE CENTS blog at simplecentsblog.org.

City & County Credit Union, headquartered in St. Paul, Minn., today announced its selection of Bluepoint Solutions’ ImagePoint, its complete point-to-point item processing suite, enterprise content management platform, receipt and transaction management tools and disaster recovery. Bluepoint Solutions is a Microsoft Gold Certified Partner and leading innovator in remote deposit capture (RDC), image-based item processing and enterprise content management software technology for financial institutions.

“What began as a search for a home capture solution to better serve our members evolved into a full-blown campaign to evaluate and address all of our enterprise content management needs,” said Pat Pierce, CEO of City & County Credit Union. “As we got deeper into the evaluation phase, we uncovered several areas in the credit union that would benefit from a more sophisticated document management solution. After a systematic search, we determined that Bluepoint was the only provider that could satisfy all of our operational requirements, while adding the desired workflow efficiencies and functionality.”

City & County Credit Union operates four branches, has more than 41,000 members and $339 million in assets. The credit union cited Bluepoint’s unique best practices approach as the primary factor in its selection. Based on proven industry best practices, Bluepoint’s solutions are designed to improve client service, enhance business continuity, improve productivity and increase operational efficiencies. Additionally, its technology is member-centric, allowing it to align with the systems and procedures commonly found within a credit union environment.

Pierce continued, “After evaluating and meeting with several providers in the market, we were very impressed with Bluepoint’s best practices approach and their knowledge of how credit unions operate. It was clear their team held years of experience and had proven solutions to each challenge we presented. We determined Bluepoint’s best-practices approach would satisfy all of our requirements and significantly improve our processes. Additionally, the member-centric approach allows us to better serve our members. Other systems we examined were siloed according to department or document type; having all of the information organized by member is much more productive in a credit union.”

City & County will be implementing Bluepoint’s teller capture platform (vs. the alternative,  branch capture), which follows Bluepoint’s best practice recommendation of capturing documents at the point-of-presentment.

“We are looking forward to moving the entire credit union to an image-based environment and shifting away from paper-based operations,” said Pierce. “We made the decision to capture items at the teller station to not only improve our internal workflow, but also the overall member experience. If there are any questions about a document, our tellers will have the information at their fingertips to respond immediately. This will also eliminate the end of day rush to balance and get items processed.”

Pierce continued, “Once the entire suite is implemented, we’ve estimated the initial hard cost savings alone will amount to more than $250,000 over the next seven years. This does not include the soft savings in reduced time spent on research, reduction of errors due to keystrokes and the improved member service.”

City & County Credit Union has invested in a sophisticated content management and remote deposit capture strategy leveraging the following Bluepoint products: ImagePoint Teller Capture, Receipt Manager with Transaction Manager, ImagePoint Remote (QwikDeposit Home), ImagePoint Hub, ImagePoint Foundation, member-centric Enterprise Content Management platform and disaster recovery.

ImagePoint Capture enables the capture of items remotely or at the teller line, ImagePoint Hub aggregates and forwards presentment of items and ImagePoint Foundation provides central item processing functions and image exchange. When used together, the ImagePoint Platform provides a complete end-to-end solution from the earliest point of presentment to full “Day Two” processing for inclearings, returns and a full, feature-rich permanent archive for storage and research.

Receipt Manager integrates with the existing teller transaction flow, storing the receipt data electronically and making it available to authorized users throughout the entire credit union. Bluepoint’s Enterprise Content Management platform integrates with ImagePoint and Receipt Manager to provide a flexible, member-centric file system to manage all scanned and imported documents electronically, and create valuable reporting tools to analyze and review member data.

“Bluepoint is celebrating its 10th year in business this year,” said CEO and Founder, Hal Tilbury. “For the past decade, we have established best practices that when implemented, can save credit unions hundreds of thousands of dollars, uncover hours of lost productivity and significantly help their front and back offices better serve their members. City & County’s executive team is making an investment in their future and we are very proud to be the partner selected. Our team will start with a comprehensive evaluation of the credit union’s current processes and then implement our solutions to drive efficiencies throughout the organization. We look forward to working with City & County on this endeavor.”

Bluepoint Solutions, a Microsoft Gold Certified Partner and innovator in remote deposit capture (RDC), image-based item processing and enterprise content management software technology for financial institutions, announced a strong end to 2009, signing four new financial institutions to its growing roster of clients during the month of December. The financial institutions include: Kennebec Savings Bank, City and County Credit Union, South Carolina Federal Credit Union and Honda Federal Credit Union.

All four institutions selected at least one module from Bluepoint’s ImagePoint solution suite, an end-to-end image-based check clearing solution designed to help financial institutions of all sizes better manage item processing. The ImagePoint platform is composed of three integrated product families: ImagePoint Capture for remote capture of items; ImagePoint Hub for aggregation and forward presentment of items; and ImagePoint Foundation for central item processing functions and image exchange. ImagePoint products may be used separately or together providing a complete end-to-end solution from the earliest point of presentment, to full “Day Two” processing for inclearings, returns and a full, feature-rich permanent archive for storage and research.

“We celebrated many company milestones in 2009 including officially launching our end-to-end ImagePoint item processing solution suite,” said Hal Tilbury, CEO and founder of Bluepoint Solutions. “We are very pleased to see how many financial institutions have embraced our philosophy to provide a modern, sophisticated alternative to legacy systems.  In what is typically characterized as a slow, holiday month, we saw continued activity and interest in our products thus closing the year on a very strong note. We credit this success to our dedicated team of professionals that not only understand the challenges facing the financial industry, but know what solutions are needed to meet the individual needs and business goals of each institution.”

Based in Augusta, Maine, Kennebec Savings Bank ($717 million in assets) selected various modules of Bluepoint’s ImagePoint item processing solution suite including the branch, ATM and merchant capture modules, as well as ImagePoint Hub, which aggregates the captured images and data in a sophisticated, centralized, intuitive filing structure, regardless of the initial capture point, and presents the items to payment processing systems.

City and County Credit Union ($344 million in assets) is based in St. Paul, Minn. and operates four branches in the surrounding area. The credit union selected a full end-to-end item processing suite from Bluepoint including, ImagePoint’s teller capture and member/home capture modules, ImagePoint Hub and ImagePoint Foundation for sending, receiving, returning and archiving items. The credit union also purchased Bluepoint’s Receipt Manager with Transaction Manager to gather, store, index and report on all transaction information presented or captured at the teller window; as well as Bluepoint’s Enterprise Content Management platform and its Virtual Back Up Disaster Recovery solution.

Headquartered in Charleston, S.C., South Carolina Federal Credit Union ($1.46 billion in assets) operates 20 branches and serves more than 164,286 members. The credit union selected ImagePoint modules including teller capture, merchant/business member capture, home/member capture and ATM capture, as well as ImagePoint Hub. The credit union also selected Bluepoint’s Receipt Manager with Transaction Manager for advanced research.

Finally, Honda Federal Credit Union ($534 million in assets), located in Torrance, Calif., selected Bluepoint’s ImagePoint Remote, home/member capture solution, to better serve its dispersed member base. With a large global membership, offering home/member capture will prove to be an invaluable service for the credit union. A long-time user of Bluepoint’s branch capture solution, the credit union cited its success with this platform, as well as the ease of integration of the consumer capture product as key reasons for selecting Bluepoint.

Vista, Calif. Feb. 18, 2010. Bluepoint Solutions, a Microsoft Gold Certified Partner and leading innovator in remote deposit capture (RDC), image-based item processing and enterprise content management software technology for financial institutions, today announced the results of its 2009 Remote Deposit Capture for Credit Union’s survey. Bluepoint surveyed a random sampling of credit unions with assets ranging from $100 million to $1 billion to evaluate which remote capture point(s) they were currently using and/or future plans for leveraging the technology. More than 200 credit unions participated in the survey.

According to responses, 52 percent of participants indicated their credit union currently has at least one type of remote capture solution implemented. Out of those respondents, 63 percent have instituted a branch capture platform, 20 percent rely on teller capture solutions, nine percent have an ATM capture solution, four percent offer merchant capture and another four percent offer home or member capture.

Remote Deposit Capture Deployment

CEO and Founder, Hal Tilbury, said, “Credit unions are only now beginning to seriously embrace remote deposit capture.  As credit union executives become more aware of the cost, time and resource savings this technology can produce, adoption rates will accelerate dramatically until remote deposit capture is as common as online banking or debit cards.”

Respondents indicated a high interest in home capture as a valuable service for their members. When asked about future plans for implementing home capture, 42 percent of respondents indicated they currently had initiatives in place and another 46 percent responded they were currently exploring the service.

Senior Analyst for Celent, Bob Meara, said, “Branch capture’s swift adoption was driven by a compelling and urgent need to address the rising cost of processing paper. That same sense of urgency does not surround home capture. Member demand will eventually lead to widespread adoption, however, as awareness of home capture grows.”
“I’m not surprised to see this trend,” continued Tilbury. “In our society, consumers are used to banking anytime, anywhere. The convenience of making deposits from home creates loyalty from existing members and will attract new members.”

By: Dick Drew, Executive Vice President of Bluepoint Solutions

Consumer confidence in larger financial institutions remains low, providing opportunities for community banks to attract new, and increase loyalty with existing customers. Many consumers that have grown frustrated with larger banks are shopping for a new financial institution, and many, for the first time, are looking at community banks as a viable option. Consumers are seeking institutions that offer the type of one-on-one banking that community banks are renowned for, but also provide sophisticated technology tools.

Consumer or home capture is one of these tools that can attract new customers and creating a protection strategy for existing customers. Home capture eliminates trips to the branch or the ATM, giving customers the flexibility to make deposits any time, from any place. The only thing required by the customer is a working scanner and an Internet connection; there is no software to install, making this a very attractive offering to the end-user. This type of service is extremely valuable to those customers that are self-employed or run side businesses out of their homes, such as rental property owners or product distributors like Mary Kay. These “consumers” are valuable to an institution, but may be often overlooked as a merchant or small business. Home capture offers a solution that meets the needs of the bank and the customer. Additionally, those community banks that are serving a dispersed customer base, such as retirees or active military personnel, will be able to retain those customers and collect deposits, no matter how remote the location.

In addition to customer convenience, this creates an entirely new channel to receive deposits. This technology is gaining momentum among credit unions and is demonstrating significant results even at an early stage in the adoption cycle. However, among community banks this still remains a relatively untapped opportunity.
According to a report by Lydia Cole in the 2009 Technology Guide for Credit Unions, Digital Federal Credit Union launched a home capture solution in March 2008, and within one year had 15 percent of its membership signed up for the service. The credit union received approximately 9,000 deposits per month, totaling more than $13.5 million.
Another example from the credit union community is USAA. According to the article “Now Might be Time to Reexamine Consumer Remote Deposit Capture” in the Jan. 21, 2009, issue of Bank Systems & Technology, USAA has nearly doubled the rate of its deposit growth since deploying the technology in 2005.

Once implemented, consumer capture can be used to fulfill consumer demand, increase deposits, retain existing customers and attract new customers. Additionally, when implemented in a software, as-a-service format, community banks can quickly deploy consumer capture, with minimal upfront expenses. During a recent webinar, Celent Senior Analyst Bob Meara said that consumer capture might be worth another look. As banks struggle to grow deposits and gain consumer trust, consumer capture is becoming more and more attractive.

While many financial executives dismissed consumer capture in the past, it is proving to be a technology that should no longer be ignored or overlooked. Given the growing distrust among consumers for larger financial institutions, the demand for convenience and anytime banking, and the demonstrable results from the credit union community; the market conditions are favorable for community banks to be successful with a consumer capture tool. The only question that remains is will your bank seize the opportunity or watch from the sidelines?