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Discussion Boards > Remote Deposit Capture Discussions > RDC Soon in the UK: Best Practices View modes: 
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Lui King - 1/22/2016 11:43:13 AM
RDC Soon in the UK: Best Practices
This a paid advertisement posted by on the behalf of Panini.
RDC soon in the UK: Best Practices
  The United Kingdom has recently decided that it's finally time for the 'analogue' cheque to take its place in the digital payments ecosystem: the legislation enabling image–based cheque truncation comes into force on 31 July 2016.

As a consequence, the market is expecting that Remote Deposit Capture will soon find its space as a win–win solution for Financial Institutions and their Business Customers — over 90% of which still made some form of payment by cheque in 2013 (Payments Council, "UK Payment Markets 2013").

Digitization will be achieved, as in other countries, using specialized scanners located in bank branches, ATMs, corporates or SME offices, or using mobile phone cameras and apps. RDC cuts the time and cost of cheque processing, frees up branch staff for higher–value services, and enables freedom in time & space on the side of the depositor.

There are however a few tricks — or best practices — to getting RDC right: in the November–December issue of Treasury Today, Panini presents its view alongside those of research and consulting firm Celent and of Bank of America Merrill Lynch.

Treasury Today is the official publication of EuroFinance Conferences, and their flagship publications — Treasury Today and Treasury Today Asia — are read by 127,000+ corporate treasurers, finance directors and CFOs each month. Each issue of the magazine looks at the latest trends and developments in the world of corporate treasury, whilst also giving readers practical advice on treasury building blocks and best practice.

This a paid advertisement posted by on the behalf of Panini.

Recent Forum Posts

RE:duplicate repeat offenders & contract language

Hello Lynn, We do not have a specific number of occurrences where the customer may be removed from the product.  We do ask they adhere to our Check Safekeeping and Destruction guide which covers duplicates and how to avoid them by ensuring they have a physical endorsement and secured after ...
Posted on 4/20/2022 1:01:14 PM

RE:Analyzed Savings or MMA accounts on RDC

Do you mean RDC into SAV or MMA Accounts?  A consumer could RDC into a SAV or MMA I beleive. But for commercial customers you cant by law in most places co-mingle security deposits with regular funds due to the required accounting of those funds.  It creates a terribly challenging acco...
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Analyzed Savings or MMA accounts on RDC

What would be some reasons why a Financial Institution would prohibit (or allow) RDC on Analyzed SAV/MMA? The use case for some businesses, such as Property Management Companies wishing to deposit directly into an Analyzed MMA where security deposits are held, has been brought to our attention, b...
Posted on 3/24/2022 1:25:28 PM