Get ready for Synctera Remote Check Deposit

Mobile remote deposit capture (MRDC) is a method of depositing a check by using a mobile device to scan an image of it and transmit the image to a bank. 

Fintechs will have customers that have physical checks (people getting checks as gifts or payment for things like rent, small businesses getting paid by checks). Those customers will want to deposit those checks but have no place to physically deposit them in person (no branches, possibly no access to deposit via ATM). To help fintechs be able to capture those, Synctera provides an MRDC service so that fintechs can capture and deposit checks. 

CheckAlt is our partner for processing remote deposits and producing ICL files (X9.37) for presentment to the Fed, as well as deposit reports for reconciliation.