Morgan Stanley announced earlier this week that it has integrated mobile check deposit software from NCR Corporation to create a simple and convenient option for depositing paper checks for its wealth management clients.
According to a company press release, Morgan Stanley used technology from NCR’s partner, Mitek, which gives customers onscreen guidance to help them properly orient the check in the photo frame. Then, the technology automatically snaps a picture of the check.
NCR Financial Services Vice President and General Manager of Payments Steve Nogalo commented on the latest software, and what it means for Morgan Stanley.
“A new breed of consumers expects more from their mobile interaction with their financial institution,” Nogalo said in the company release. “Through APTRA Passport for Mobile, Morgan Stanley is able to give its clients the freedom to deposit checks in convenient, secure manner.”
While some organizations are working to make mobile check deposits easier, others are eliminating it completely. Just earlier this month, PayPal announced that it was no longer offering a mobile check deposit feature to its customers.
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