Mobile Deposit users are required to retain the original paper items in a secure place. We also recommend you write on the front of the check: "Mobile deposit on DATE” (where DATE is the full date you deposited the check by Mobile Deposit).
Mobile Deposit users are required to retain the original paper items, for a minimum of five (5) calendar days, but no longer than fourteen (14) calendar days, after they have been transmitted to the Bank
After the retention period, the original paper items are required to securely and irretrievably destroy the original paper items so they are not deposited again.
The American Banker article Top 10 Community Bank IT initiatives discusses a range of IT projects from 10 US community banks ranging in asset size from $130 million to $5.8 billion (Thanks to Matthew Findlay for the article link).
The money quote: "We are a community sized bank; we don't have a huge amount of staff or a huge budget to go out and do these things," he says. "If you think about the compliance, the marketing, the client support, all of those people had to be on the same page."
Projects such as estatements, mobile banking, electronic communication with customers and process redesigns all need compliance input to ensure that any changes satisfy regulatory requirements.
Besides ensuring that the internal departments are aligned and co-ordinated it is essential that there is governance of the IT project: this starts with a contract setting out the cost and benchmarks to ensure that the project is completed on time and within budget and meets its goals.
Harvard Business School has published a case study about 2 different approaches in Africa to providing financial services using mobile phones: one in Kenya was successful, the other in South Africa was not.
The case study raises many issues apart from the actual use of the technology, the most important being identifying the problem potential customers were having rather than making wrong assumptions.
If you're interested in what makes financial services easier for customers then you'll be interested in BankSimple a new mobile banking platform with a distinctive visual interface recently reviewed by Fast Company here.
Which ADI's offer internet banking and what online services are offered?
Curiously, APRA does not obtain separate data on internet banking other than incidentally in its ADI Points of Presence publication. The publication focusses on branches due to its historical origins as a report on regional and rural banking.
The workbook identifies “non face-to-face” customer contact by ADI’s which comprise service channels which provide no face-to-face services, for example internet and telephone banking but not internet banking separately. There are several ADI's that split their internet banking facilities out as a separate service channel. But this is generally not the case.