The partnership is set to combine mFoundry’s mobile banking and mobile payments solutions with WAUSAU’s Deposit 24/7 Mobile functionality, which offers mobile RDC, a feature that allows consumers and businesses to cash cheques via smartphones.
Those that deploy the integrated solution are set to gain access to WAUSAU’s risk monitoring functionality that allows financial institutions and their clients to access the RDC functionality while complying with the Federal Financial Institutions Examination Council (FFIEC) guidelines. The risk monitoring module in conjunction with Deposit 24/7 Mobile includes features such as duplicate detection, velocity and dollar limits, as well as image analytics.
In recent news, mFoundry has launched a mobile banking platform for financial institutions dubbed Fin.X.
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