Signature Bank Unveils Deposit Service by App
by March 30, 2012 3:56 pm 94 views
Signature Bank of Arkansas began accepting customer check deposits via a smartphone tool called Signature XpressDeposit App on March 19.
The service is designed to “redefine convenience,” executive vice president Kai Dare said.
Customers with an iPhone 3 or higher, an Android or Blackberry can download the free app, then use it to take photos of the front and back of checks. The photos are sent to the bank for verification, and customers are credited for a deposit just as if they had made the deposit in person, though Dare recommended customers keep their checks for two weeks before shredding.
Dare also said customers receive notification when checks are received and approved.
“The old way of having bank locations all over town is just not the way consumers want to bank today,” SBOA chairman and CEO Gary Head said in a news release. “Customers want convenience. They bank online, pay bills online, use ATMs for getting cash and now with Signature XpressDeposit they can deposit checks with their smartphone.
“Don’t get us wrong, we love seeing our customers in the bank, but we realize customers are busy and whatever we can do to help them save time for family and friends is always good.”
Dare said the service, which has been in the works for about eight months, is believed to be the first of its kind in Northwest Arkansas. She declined to say how much of an investment SBOA made in the service, but acknowledged the bank pays its app vendor a per-deposit fee. SBOA customers, however, are not charged any type of fee for the service, she added.