Earlier this month, Javelin released a report on Mobile Imaging that showed that 64% of the top 25 FIs by deposit now offer mobile remote deposit capture, up more than 3 times from 20% in 2011.  In another key trend, financial institutions’ offering of mobile banking for businesses increased dramatically from 24% in 2011 to 64% in 2012. Now these two key trends are merging into one, as Fiserv launched their mobile POS solution SpotPay, with the announcement that it would soon be allowing mobile deposit for small business. But security must keep pace with the rapid rollout of advanced mobile functionality because the bad guys are always waiting for an opening. Duplicate deposit is one of the more thorny issues surrounding mobile RDC.

What can stop a consumer from depositing an item at one institution, and then going to another and doing the same thing? Early Warning has come out with an enhancement to its Deposit Chek Service that specifically addresses the threat of duplicate deposit by cross-checking mobile deposits with those made at branch locations, ATMs, teller windows, and lock boxes of other institutions across the country. The initial pilot includes 6 of the nation’s largest FIs, with a broader roll-out to follow. Early Warning Deposit Chek Service’s new duplicate item detection is designed to expedite deposits on likely good transactions, as much as it is to identify high risk transactions. And as FIs are able to be more confident of the security of their solutions, they hopefully will able to release up a little on the tight reins they currently hold over remote deposit daily limits and hold restrictions