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Remote Deposit Capture
"Money We Never Had Before"
Mercantile Bank & Trust Company of
Boston, Mass., with headquarters across
the street from Fenway Park, faced tough
competition for its loan customers’
deposits.
“We had plenty of loan business, but
there was no way to get these customers
to drive 25-30 miles to Boston to make a
deposit,” said Joseph Nicotera, Senior
Vice President, Mercantile Bank & Trust.
That all changed when Mercantile
launched iDeposit Express – its remote
deposit capture product from COCC. With
prominent positioning on the bank’s web
page and the local TV station’s site as
well, Mercantile started fielding calls.
“We would schedule visits and arrive
with the equipment to start processing
checks on the spot,” said Nicotera. “We
showed our loan customers how easy it
is, and we picked up four million
dollars in new deposits. It’s money we
never had before, and COCC helped us
throughout the process.”
Wendy Healey, First Vice President –
Product Management at COCC, said the
remote deposit capture product extends
COCC’s reputation of delivering the
efficiencies and business opportunities
available through advanced check imaging
technologies. |
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Donna
Knox (left) holds the check scanner used
to deposit hundreds of checks without
leaving her office at Cubby Oil Company.
Joe Nicotera of Mercantile Bank and
Deana Wyse of COCC delivered this new
banking convenience to the bank and its
customer. |
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