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December 03, 2012 at 09:15 AM EST
Capital One Bank Launches Mobile Deposit Capture for Commercial Clients

Capital One Bank today announced it has launched Mobile Deposit Capture, a new tool that enables commercial customers to make check deposits right from their iPhone® or Android® smartphones. The new Mobile Deposit Capture tool is seamlessly integrated with Capital One’s existing Remote Deposit service, providing the same level of security, scalability, and functionality, now in a mobile platform.

“As more and more businesses are relying on mobile technology to manage business activities we find ourselves engaging with them in new and different ways,” said Colleen Taylor, EVP, Head of Treasury Management and Enterprise Payments at Capital One Bank. “This new, easy-to-use tool will give our customers the ability to deposit checks on-the-go through a secure network, saving our clients time and money by eliminating trips to the bank and virtually bringing a teller window into the palm of their hand.”

How Capital One's Mobile Deposit Capture for Commercial works:

  • Contact a Capital One Treasury Management Sales Advisor (treasury@capitalonebank.com) to sign up for the service
  • Download the Capital One Business Deposits app from the Apple App StoreSM or Google Play
  • Log in
  • Endorse the check
  • Photograph the front and back of the check
  • Submit the deposit

Mobile Deposit Capture features a simple and user-friendly interface and is also loaded with a Practice feature and a Help screen. Users can check the Deposit History screen to get the status of their deposit. Checks can be deposited as late as 9:00 PM ET, Monday-Friday, for credit that same day.

A number of Capital One Bank commercial clients piloted Mobile Deposit Capture prior to launch. Among them was DiCarlo Food Service, one of the largest independent food service distributors serving the Metro New York area.

“We’ve had our sales representatives testing Capital One Bank’s Mobile Deposit Capture for several months and they have been thrilled with the tool and how easy it is to use,” said Pat Harris, Credit Manager at DiCarlo Food Service. “The process has been seamless. Our sales force is able to deposit checks as they collect them versus holding checks and mailing in one package a week. It saves time and check payments are posting directly and quickly to our Capital One Bank accounts. This is going to be a game changer for our business.”

Capital One Bank’s Treasury Management group delivers a broad range of innovative payables, receivables, liquidity management and online solutions that help businesses increase working capital and achieve their strategic financial objectives.

For more information about Capital One Bank’s Treasury Management Mobile Deposit Capture tool, please contact a Treasury Management Sales Advisor or treasury@capitalonebank.com.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N. A., had $213.3 billion in deposits and $302.0 billion in total assets outstanding as of September 30, 2012. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. ING DIRECT, a division of Capital One, N.A., offers direct banking products and services to customers nationwide. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

About Capital One Treasury Management

With a strategy to offer distinctive, better-than-average products, Capital One’s Treasury Management group provides a "Center of Excellence" servicing approach, streamlining client on-boarding processes, offering online self-service capabilities and enhancing the ability to survey clients and track service metrics. Treasury Management executives work across all areas of the commercial bank, enhancing existing client relationships and helping ensure smoother treasury functions within their businesses.

Google Play and Android are trademarks of Google Inc.

iPhone and Apple App Store are trademarks of Apple Inc.

Contacts:

Capital One Bank
Julie Rakes, 804-284-5800
Julie.rakes@capitalone.com
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