A Quick Tip for Data Analysts: Analyzing Mobile Deposits

Hello! Today’s tips are for my fellow CU*BASE analysts who need to work with data on mobile deposits (RDC) – use this information to start or enhance your efforts to analyze the RDC service’s recent activity.

Tips for Analyzing:

Large Deposits – Monitor for repetitive checks at or near the maximum daily limit. If you have no daily limit, choose an amount threshold and evaluate for concern any high amounts over that threshold.

Comparative Evaluation – For a specific project, or a more advanced study – pull two or more periods of time and compare the results. Total deposit amount, average deposit amount, number of checks, posting error ratio, breakouts of weekend volume, checks per member, etc

Monthly Trend – A simple trending chart is a great place to start. Set it up as the day-by-day or week-by-week trend for number of checks, and total deposit amount. Study the patterns to establish a baseline understanding of usage or to raise awareness when significant changes to member engagement levels occur.

 

Tips for Finding the Data:

The approach to finding data on Mobile Deposit (RDC) activity will depend on what systems and processes are used to post them to the member’s account.

If deposits are automatically posted:

Check out Tool 1986 Auto-Post RDC Deposit Dashboard to find a listing of every posted deposit (or attempts that ended in error), for any date or time period you are interested in. Total amount and number of checks are included for quick reference. Interested query-writers can find source data in table RDCTRNTRK.

 If deposits are batch-posted or manually posted:

Query the data table TRANS1 (current month), or HTRANS1 (historical months), making sure to organize (sort) the data by Activity Date.

To pick out the RDC transactions, focus on Origin Code and Transaction Description information. Recorded data for these will be different for each credit union and should be researched to use the right information for your own. Typically, data is found to be 04 (but may be 08) for Origin Code, and include one or more of the words “MOBILE”, “REMOTE”, or “RDC” in the description.

Good Luck!

What else are you focused on lately and how can I help? The Asterisk Intelligence team specializes in data analytics and data warehousing for credit unions. Reach out to us at ai@cuanswers.com

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