Fidelity Investments has launched mobile check deposit technology for registered investment advisor, broker-dealer and family office clients.
According to the company, by using its mobile check deposit technology, financial advisors and family office professionals can take a picture of a check using the camera on a smartphone or tablet and securely deposit the funds directly into their clients’ brokerage accounts.
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Fidelity claims that its newly launched technology will also enable its users to perform real-time account validation to reduce errors.
The platform also offers integration with Fidelity’s brokerage bookkeeping system. It will also provide users subscription-based, near real-time alert notification of remote check deposit status.
"This new mobile offering illustrates our commitment to anticipating technology shifts and helping our clients leverage new innovations effectively," said Edward O’Brien, senior vice president and head of platform technology, Fidelity Institutional.
"Mobile check deposit — a wildly popular consumer app — was a ‘given’ to adapt for our ‘anywhere advisors’ and family office professionals, allowing them to spend less time processing checks and more time engaging with their clients," O’Brien added.
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By GlobalData
