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Poll Central Identifies Top Priorities for RDC Innovations

Wednesday, August 29, 2018 ( /

Remote deposit capture appears to be entering a new evolutionary phase, where the user experience takes on greater import, as do transaction monitoring, reporting and actionability.
Financial institutions and their corporate clients, having benefitted from basic remote deposit capture functionality, now are looking to do more with the technology than simply truncate checks. Capabilities like improved image capture of checks and related documents, real-time risk management, and being able to monitor, report and take action on suspicious transactions are taking on greater import. That’s a key takeaway from this month’s featured Poll Central query. polls of members and other visitors on an ongoing basis, and each month features a specific poll question that visitors are encouraged to vote on. This month we asked Which RDC capabilities/functionality hold the greatest opportunity for innovation/improvement? The 61 industry executives who cast votes were asked to rank their top 3 choices from a list of 8 possibilities.

As the accompanying chart shows, the biggest vote getter was real-time risk management (of duplicates, payment verification and guarantee, etc.), with just under 75% of the votes cast. Real-time risk management functionality has been an ongoing priority for RDC professionals. When the same poll question was posed in 2015, 66% of respondents included real-time risk management as an improvement that holds the most promise for RDC; in 2017, it was 78%.

The second biggest vote getter, selected by just under 50% of participants, was improved image capture (desktop scanner and mobile) capabilities for checks and other documents. That’s nearly double the 24% of respondents who selected this in 2015, and up from 33% in 2017.

“We think this demonstrates the industry is honing its focus on improving the user experience beyond simple check capture to the capturing of more data and images from other documents, like remittance advices,” said John Leekley, Founder and CEO of This, in turn, may signal increased interest in the small business market for RDC. As we reported here, for example, mobile RDC represents a multi-billion dollar a year opportunity for FIs offering solutions that respond to small-business needs. Key functionalities small business desire include: the ability to capture payment details with deposits, being able to deposit multiple check images in a single transaction, and capturing non-check items with check deposits.   

“Where we’re seeing a significant uptick in interest, however, is in RDC capabilities and functionality that support transaction monitoring, reporting and actionability,” Leekley said. Just over 30% of respondents taking the poll over the past 12 months said monitoring, reporting and actionability offer the greatest opportunities for improving RDC, up from 18% last year. “We expect this trend to continue as the industry moves toward the next phase of the RDC product life cycle, where customers come to expect solutions that can do more than expedite deposits and support better integration with backend systems and processes,” Leekley added.

Visit Poll Central Today, and Vote
The Poll Central question featured in this article has been reset and can now be taken again. Results will be published next year. Click here to vote on the featured Poll Central query for September "What are your most desired capabilities in the RDC Scanner of tomorrow? (Please select your top 3)"


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