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The Federal Reserve Board approved final amendments to simplify Regulation J (Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire) and to make it conform more closely with Regulation CC (Availability of Funds and Collection of Checks). The amendments become effective as of January 1, 2019.
(Federal Reserve Board, 11/15/2018)
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The Fed appears to be getting real about faster payments while giving short shrift to schemes for faster check payments.
(RemoteDepositCapture.com, 11/15/2018)
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Ten years on, mobile deposit user growth appears to be slowing. Fears about change, lack of education, and financial institution inertia are some of the reasons why. Still, additional growth can be achieved.
(RemoteDepositCapture.com, 11/08/2018)
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Many financial institutions aren’t validating restrictive endorsements on mobile RDC items even though there are technology tools available that can automate the process.
(RemoteDepositCapture.com, 11/01/2018)
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It’s interesting that ASG Technologies Group is quick to mention Mitek’s shortfalls - yet will not give up on acquiring Mitek. Perhaps Mitek’s 33 patents are a factor. And although overall check volumes have been in decline, the check capture industry continues to grow significantly.
(Digital Transactions, 11/01/2018)
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The SmartSource Micro Adaptive SE is a new compact and affordable scanner from Digital Check, capable of capturing checks, full-page documents, and ID cards.
(Digital Check, 11/01/2018)
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There’s a trend emerging among financial institutions with consumer mobile deposit offerings to shorten recommended timeframes for destroying original paper checks post deposit.
(RemoteDepositCapture.com, 10/31/2018)
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CUNA members can now access a free recording of a webinar outlining the latest development in patent litigation brought against several credit unions involving remote deposit capture (RDC) technology.
(CUNA, 10/31/2018)
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Digital Check now offers the SmartSource Elite 55 SE, the latest in its Serial Embedded series of check scanners with onboard processing power. The new addition joins the existing Micro Elite SE in the company’s versatile lineup of SE devices.
(Digital Check, 10/30/2018)
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Leading Wholesale Distributor of Foodservice Disposables, Janitorial and Office Supplies, Industrial Packaging, and Clean/Natural Foods Rolls Out FTNI's ETran Integrated Receivables Platform to Streamline Accounts Receivables Operations for Check and ACH Processing.
(FTNI, 10/29/2018)
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Frauds involving noncash payments are outstripping transaction value growth by a factor of 3. The increases are being driven largely by card fraud. Check fraud losses are down, though, according to a new Fed report.
(RemoteDepositCapture.com, 10/24/2018)
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A new report finds the bar is being raised for consumer mobile deposit experiences, with more focus on easy-to-use apps and higher, more flexible deposit limits.
(RemoteDepositCapture.com, 10/18/2018)
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Financial institutions are beginning to wake up to the fact that they can offer RDC customers accelerated availability for a fee while squeezing risk from the deposit process.
(RemoteDepositCapture.com, 10/11/2018)
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How does a financial institution discern if a small business is a good fit for mobile or scanner-based RDC solutions? There are several considerations, pricing sensitivity, check volumes and frequency of deposits among them.
(RemoteDepositCapture.com, 10/03/2018)
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Remote deposit capture for small businesses needs to be positioned as more than just a faster, cheaper way to deposit check payments. Just like large corporations, small businesses want RDC solutions that include features like remittance document scanning and integration with accounting software.
(RemoteDepositCapture.com, 09/27/2018)
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Poll Central finds demand for RDC devices that can be networked, are wireless and that can capture invoices and other payment-related documents.
(RemoteDepositCapture.com, 09/26/2018)
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Opportunities exist for financial institutions that leverage remote deposit capture as more than just another deposit channel. RDC with full-page scanning to support integration with AR automation routines can augment corporate cash management service lines.
(RemoteDepositCapture.com, 09/23/2018)
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When the original check is not available, the final amendments update Regulation CC to include a presumption that a substitute or electronic check was altered in certain cases of doubt.
(Federal Reserve Board, 09/12/2018)
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A $1 billion asset bank with a branch network that spans rural South Dakota and Nebraska is pioneering a trend toward network-enabled branch banking.
(RemoteDepositCapture.com, 09/06/2018)
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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.
(RemoteDepositCapture.com, 08/29/2018)
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Fully electronic checks are the latest in a string of innovations that have enhanced the efficiency of the check payment system. So why does the Fed seem to be erecting barriers to adoption?
(RemoteDepositCapture.com, 08/23/2018)
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The path to more effective compliance with anti-money laundering and related regulatory regimes is lined with new and improved technologies, like machine learning and robotic process automation.
(RemoteDepositCapture.com, 08/16/2018)
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A Remote Deposit Capture technology patent lawsuit is not a first for USAA. You may recall, a RemoteDepositCapture.com post dating back to April 2012: USAA sued Mitek. Later that month, Mitek countersued USAA and by 2014, both parties settled.
(Houston Chronicle, 08/14/2018)
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Artificial intelligence and other machine learning tools can go a long way toward helping financial institutions mitigate risks associated with RDC. Recent advances in restrictive endorsements recognition demonstrate.
(RemoteDepositCapture.com, 08/08/2018)
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Corporate demand for integrated receivables solutions is a multi-billion dollar market opportunity that financial institutions ignore at their peril.
(RemoteDepositCapture.com, 08/02/2018)
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Latest Poll Central query highlights appeal of integrated receivables solutions. Capturing, processing and matching payments and related documents, as well as integration with corporate back-end systems, are must haves; lockbox integration less important.
(RemoteDepositCapture.com, 07/31/2018)
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A recent glitch in Wells Fargo Bank’s mobile deposit offering illustrates how some restrictive endorsements for check deposits can be too restrictive.
(RemoteDepositCapture.com, 07/30/2018)
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The market for integrated receivables is heating up, as more financial institutions and their corporate customers seek to further automate payment acceptance and move toward straight-through processing environments.
(RemoteDepositCapture.com, 07/26/2018)
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Industry collaboration provides unparalleled insights, enables service benchmarking, and facilitates optimal risk management & profitability of Mobile Remote Deposit Capture for financial institutions. FIs interested in participating can take the survey through September 14, 2018.
(RemoteDepositCapture.com, 07/26/2018)
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As companies receive more and different types of payments (ACHs, cards, checks, etc.) demand is mounting for integration of front- and back-end receivables management systems and processes, prompting more financial institutions to offer integrated receivables solutions.
(RemoteDepositCapture.com, 07/19/2018)
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New and enhanced solutions leverage AI, APIs, to improve detection of restrictive endorsements and potential duplicate deposits.
(RemoteDepositCapture.com, 07/12/2018)
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Detailed and unique insights on Reg CC, mobile deposit, risk management, capabilities benchmarking and much more will enable attendees to improve profitability, increase adoption, enhance customer value, reduce risk, and exceed Remote Deposit Capture goals and objectives.
(RemoteDepositCapture.com, 07/12/2018)
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Panini has partnered with an international technology distributor to bring check truncation to Paraguay.
(Panini, 07/10/2018)
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The ‘next frontier’ for corporate treasury management is automating and integrating receivables management. Successfully meeting this new terrain requires customer propositions and business cases.
(RemoteDepositCapture.com, 07/10/2018)
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14th Largest Distributor in the U.S. to Launch Multiple Modules Delivered from FTNI's Truly Integrated Receivables Platform to Streamline Accounts Receivables Operations.
(FTNI, 07/10/2018)
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Upcoming changes to Federal Reserve Regulation CC render restrictive indorsements an important part of financial institutions’ RDC risk management strategies. But a recent poll suggests many FIs aren’t ready for the change. New guide from RemoteDepositCapture.com aims to help.
(RemoteDepositCapture.com, 06/26/2018)
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A new webinar, presented by RemoteDepositCapture.com and sponsored by Ensenta explores what financial institutions can and are doing in the run up to new regulatory language that assigns responsibility for protecting against duplicate deposit activity.
(RemoteDepositCapture.com, 06/21/2018)
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Malauzai, a software house that has made a name for itself with innovative approaches to leveraging RDC technologies, has been acquired by Finastra, which specializes in payments, RDC and risk management tools for community banks and credit unions.
(RemoteDepositCapture.com, 06/20/2018)
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There’s plenty of opposition to a Federal Reserve proposal that would effectively put the kibosh on electronically-created checks. But is it enough to overcome opposition to these new checks for the 21st Century?
(RemoteDepositCapture.com, 06/19/2018)
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This is not the first time the industry has witnessed claims of valid patent infringement related to remote deposit capture technology, including mobile deposit.
Most recently, in May 2017, we learned of USAA’s plans to invite banks and credit unions to license remote deposit capture (RDC) technology. Now a lawsuit has been filed.
(San Antonio Express-News, 06/08/2018)
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Here’s a blast from the past (posted in 2011) that is especially relevant today as pending amendments to Federal Reserve Regulation CC encourage financial institutions to require restrictive endorsements on remote deposit items.
(RemoteDepositCapture.com, 06/07/2018)
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There’s plenty of fuel in the remote deposit capture engine: enough to drive significant opportunities in the corporate RDC market for many years to come.
(RemoteDepositCapture.com, 05/31/2018)
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The market for small business RDC solutions is significant. Latest Poll Central query suggests market penetration hasn’t even reached 50% yet.
(RemoteDepositCapture.com, 05/31/2018)
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Detailed and unique insights on Reg CC, mobile deposit, risk management, capabilities benchmarking and much more will enable attendees to improve profitability, increase adoption, enhance customer value, reduce risk, and exceed Remote Deposit Capture goals and objectives.
(RemoteDepositCapture.com, 05/30/2018)
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Mitek Systems announced that it has acquired A2iA.
(Mitek, 05/23/2018)
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The business case for remote deposit capture extends beyond more efficient check handling. The savings to a small business that moves costly credit card payments to checks and uses RDC to deposit those items can be an enormous selling point, as this example illustrates.
(RemoteDepositCapture.com, 05/22/2018)
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Detailed and unique insights on Reg CC, mobile deposit, risk management, capabilities benchmarking and much more will enable attendees to improve profitability, increase adoption, enhance customer value, reduce risk, and exceed Remote Deposit Capture goals and objectives.
(RemoteDepositCapture.com, 05/17/2018)
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Mobile remote deposit capture for small and mid-sized businesses represents a $1.5 billion dollar a year revenue opportunity for banks and credit unions, and could yield an additional $1.25 billion in operational cost savings.
(RemoteDepositCapture.com, 05/17/2018)
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Total mobile remote deposit capture transactions have doubled in 18 months, to 2 billion. Associated financial institution cost savings total $5 billion.
(RemoteDepositCapture.com, 05/11/2018)
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Machine learning tools, like artificial intelligence, have the power to change the rules of engagement in fraud and risk management. But changes will come over time, not overnight.
(RemoteDepositCapture.com, 05/03/2018)