Case Study: Mercantile Bank of Michigan brings mobile deposit to retail customers with ProfitStars and Mitek Mobile Deposit

Mercantile Bank of Michigan – Bringing Mobile Deposit to Retail Customers in 30 Days

Mercantile Bank of Michigan, a community bank, sought to grow its retail customer base and deposits by attracting a younger demographic. To achieve this, the bank needed to quickly bring a modern and convenient mobile deposit capability to market. They partnered with vendor ProfitStars to implement Mitek Systems Mobile Deposit® in a hosted environment.

ProfitStars provided the hosted Mobile Deposit solution, allowing retail customers to deposit checks using their smartphones. The solution was deployed in just over 30 days. The results were significant: monthly enrollment for the service increased by 400%, over 20% of mobile banking users adopted it within four months, and the value of deposits made via mobile quickly surpassed those from traditional scanners. This successful rollout helped Mercantile Bank diversify its demographics and grow its retail segment.

Mercantile Bank of Michigan

Mike Kroft

Vice President and eBanking Services Manager