Remote Deposit Capture RSS Feed
Remote Deposit Capture Newsletter
Remote Deposit Capture Group on LinkedIn
Remote Deposit Capture Group onTwitter
The Green Sheet

Email Page 
Print Page 
 Add to LinkedIn Add to Twitter Add to Facebook Add to Reddit Add to StumbleUpon 
Add to Tumblr
Search discussion boards: 

Remote Deposit Capture Discussion Boards

The Remote Deposit Capture Discussion Boards are open to the entire industry. Post comments, share news, ask questions and more with professionals from throughout the industry.
Go back to Discussion Boards
Remote Deposit Capture Discussions Discuss the ins-&-outs of Remote Deposit Capture here. No vendor solicitations here please.
Discussion Boards > Remote Deposit Capture Discussions > RDC Indemnity View modes: 
User avatar
kimberlyhdescher - 8/21/2020 3:02:13 PM
RDC Indemnity
Anyone familiar with the details of using RDC indemnity claim for duplicate check returns?  A customer is inquiring about our institution taking on the risk for these items.

User avatar
tgavin - 8/24/2020 6:54:46 PM
RE:RDC Indemnity
We have been on the receiving end of many claims.  We are the banking partner for many non-bank fintech partners who offer mobile deposit to their customers.  Since this is a totally mobile app population, there tends to be a lot of fraud with duplicate check presentments.   We see a lot of deposits through our channel on day 1 and then the check being deposited in person or via mobile to another bank on day 2.  Even if the customer does a mobile deposit through our channel and then does a second mobile deposit through another bank on the same day, there's no way to really tell which one hit the receiving bank first and whether we should get his with the claim.  In our situation, unless it is very clear that the claim should not have come to us, we pass the loss along to the program partner.
(the fraudsters are tricky and they will have a back of the check in their deposit to us with all the proper endorsement information required under Reg CC so from what we see, it looks good.  I'm sure this is a "false" back so they can deposit the check again through another bank!)

User avatar
xkasprzak - 8/25/2020 1:18:13 PM
RE:RDC Indemnity
tgavin, have you considered activating Integrated Fraud Check (EWS) to literally stop the industry duplicates during the deposit experience.  The Ensenta platform will check for duplicates across all channels of RDC for their 1600 customers for 12 months, in addition to making a real-time call to Early Warning's Real-time Deposit Chek service to stop Intra-day duplicates and Already cleared at another bank duplicates across the industry.

This would out-smart the fraudsters trying to use the back with proper endorsements.

User avatar
xkasprzak - 8/28/2020 9:17:59 AM
RE:RDC Indemnity
tgavin, we are tracking an increase in attempted fraud for the FinTech channels.  The attempted duplicates, bad checks, tends to run .33% for traditional banks and 2.67% fo FinTech... definitely important to guard tighter when running FInTech portfolios.  

Recent Forum Posts

RE:Alternatives to in person site vists

UMACHA conducts compliance services for both ACH and RDC including audits and risk assessments, at this time we do not feel its necessary for the video walk around.  However, for an FI that desires that to occur to complete the audit we would intertain that option and accomodate for our Remo...
Posted on 11/4/2020 1:37:45 PM

Alternatives to in person site vists

We are exploring the option of using video technology to conduct site visits in place of in person.  Has any other FI considered or implemented something similar since the pandemic has made in person nearly imposssible?
Posted on 11/3/2020 2:01:19 PM

RE:Common Challenges when transitioning to cloud-based solutions

We have not found much difference between a cloud environment and an on-premise system when it comes to integrating with backend office systems. The TPS cloud platform can utilize both data files and web service interfaces for performing data lookups and validations. Likewise, TPS can e...
Posted on 10/30/2020 4:45:33 PM