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The Green Sheet

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At Least 1 in 5 FIs Offering RDC Could Be Looking for New Vendors

Friday, November 30, 2018 ( /

New poll suggests RDC solution providers could be at risk of losing clients, as 1 in 5 financial institutions signal vendor dissatisfaction.
While many financial institutions are happy with their RDC vendors, a significant share of RDC vendor relationships (over 20%) could be at risk due to dissatisfaction, if results of new Poll Central query at are an indication. polls members and other visitors on an ongoing basis, and each month encourages visitors to cast votes on a featured question. This month the featured poll asked: How satisfied are you with your current remote deposit vendor? A total of 70 FIs responded to the query.
As the accompanying chart indicates, most FIs are content. Nearly 36% of responding FIs said they are extremely satisfied with their current vendors, and nearly 29% are somewhat satisfied. However, at least 1 in 5 relationships may be at risk, as just under 16% of responding FIs said they are dissatisfied and nearly 6% indicated they are extremely dissatisfied with their current RDC vendors.

As the RDC channel has matured, solution providers have devoted significant resources to improving the overall user experience, as well as FI costs and security and risk management requirements. “It’s a never-ending process,” said Kevin Moland, Director of Product Strategy for the Enterprise Payment Solutions Division at Jack Henry and Associates. “There is an ongoing litany of things you have to pay attention to and address.”
Chief among these, perhaps, are evolving risk management considerations. “We’ve been focused on improving risk management capabilities available to financial institutions using these services,” said Steve Langhans, Director of Product Management at Fiserv. This includes drawing on “other financial institution assets,” like data from core processing systems, to feed into risk models in order to support more comprehensive assessments of RDC items.
One area of risk management that has garnered significant attention over the past year is the ability to identify restrictive endorsements. “We’ve had that capability for years,” explained Moland. But recent changes to Federal Reserve Regulation CC that encourage restrictive endorsements on RDC items to fend off liability for duplicate deposits has stoked interest. “We’ve fleshed out the functionality to give financial institutions more granular context,” Moland said.
Improving the user experience has been another area of focus for solution providers. “People, regardless if they are using a commercial or consumer application, expect similar experiences,” said Mehul Patel, Senior Director, Software Strategy and Services at Deluxe Corporation. Deluxe has been investing in upgrades that make the business RDC experience more in line with that of the consumer RDC experience, such as the integration of Mitek’s MiSnap automated capture technology, he noted. “As more consumer apps have implemented MiSnap, it was a natural extension to include that in business mobile RDC as well,” Patel said.
“Many vendors are performing well when it comes to improving the RDC customer experience, and risk management and reporting capabilities,” said John Leekley, Founder and CEO of “But, competition is heating up and they must do more in order to keep pace with market demand. We believe the next wave of enhancements will need to focus on enhanced business functionality,” Leekley added. “More data, permission-based capabilities, dashboards and A/R integration are key areas where we expect FI demand to drive more vendor innovations.”
Visit Poll Central Today, and Vote
The Poll Central question featured in this article has been reset and can now be taken again. Fresh results will be published next year. In the meantime, click here to vote on the featured Poll Central query for December: Should the payments industry allow fully electronic checks?


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