Case Study: NewDominion Bank achieves 45% increase in new account openings with Mitek Systems' Mobile Deposit

NewDominion Bank – Mobile Deposit Helps Community Bank Grow Locally and Serve National Customer Base

NewDominion Bank, a growing community bank in North Carolina aiming to become Charlotte’s dominant community bank, wanted a first-mover advantage by offering convenient, cost-saving technology to attract new customers and serve a national client base. The bank’s challenge was to let customers deposit checks without visiting a branch while maintaining strong risk controls and planning to expand the service to commercial clients.

NewDominion implemented Mitek’s Mobile Deposit, deployed in 90 days through WAUSAU Financial Systems, letting customers snap photos of the front and back of checks via iPhone, BlackBerry, Android and iPad. The bank paired the app with limits, duplicate-check detection and user-based thresholds to manage fraud risk. Results included a 45% increase in new account openings, 20% adoption among checking customers, 10% of consumer deposits coming through mobile, and improved customer acquisition and satisfaction.

NewDominion Bank

Chris Block

Senior Vice President