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Financial institutions are upping the ante, and consumers are responding by moving more of their financial activities to mobile and online channels.
(RemoteDepositCapture.com, 08/21/2014)
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The Federal Reserve is done crunching numbers for the 2013 Federal Reserve Payment Study. Two key findings are that checks get written for far larger amounts than credit cards get used for, and checks are far less prone to third-party frauds than other non-cash payments.
(RemoteDepositCapture.com, 08/07/2014)
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Efforts to promote adoption of a new, fully electronic check payment have been dealt a blow with the July 15th announcement that the Federal Reserve is not interested in pursuing efforts to promote electronically created items (ECIs),aka EPOs.
(RemoteDepositCapture.com, 08/05/2014)
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The U.K. – having failed at attempts to eliminate checks from its payment system – is now setting out to modernize the check system with check imaging legislation. Mobile deposit is expected to follow.
(RemoteDepositCapture.com, 07/09/2014)
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Two recent webinars focus on mobile remote deposit capture risk perceptions and experiences. Most financial institutions offering mRDC say the rewards far outweigh the risks. The secret to success is in the data and new and emerging tools that can help financial institutions better know their customers.
(RemoteDepositCapture.com, 07/03/2014)
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With rapid and ongoing adoption of RDC, especially mobile RDC, there are fewer reasons than ever for customers to visit banks’ and credit unions’ brick and mortar outlets. One way for FIs to respond to this trend is to transform branch offices into engagement centers. Mobile RDC can lead the way.
(RemoteDepositCapture.com, 07/01/2014)
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EMV may be the next big step in combatting credit and debit card fraud. But suggestions that widespread implementation of EMV in the U.S. will give rise to more check frauds ignore advances in technologies and processes that have transformed the way banks handle checks, especially suspicious items.
(RemoteDepositCapture.com, 06/25/2014)
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Federal Reserve efforts to move the U.S. toward ubiquitous near-real-time payments discount the ubiquity and near-real-time settlement capabilities of checks where RDC and electronic clearing are the norm. They also seem to ignore the Fed’s own operational shortcomings, such as the lack of 24/7 access to Reserve Bank clearing facilities.
(RemoteDepositCapture.com, 06/05/2014)
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Mobile is the new normal in banking, and remote capture functionality is a driving force. Consumer awareness is high and continued increase in mobile deposits is expected.
(RemoteDepositCapture.com, 05/29/2014)
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NACHA wants to update the ACH by transitioning to same-day settlement. But the plan may prove too little too late. After all, it is already possible with remote capture and electronic presentment to settle checks on a same-day basis. Plus, checks have a proven track record with businesses and readily integrate with existing accounting systems.
(RemoteDepositCapture.com, 05/28/2014)
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Mobile RDC has become integral to the deposit relationship at banks and credit unions. First-ever study shows broad based adoption; risk management improvement opportunities.
(RemoteDepositCapture.com, 05/21/2014)
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For financial institutions looking to attract small business customers, mobile functionality like RDC is more than just a market differentiator; it is becoming the price of admission to this burgeoning market.
(RemoteDepositCapture.com, 04/30/2014)
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Fraud is an ever-present threat to financial institutions and their customers. Perhaps nowhere is this more apparent than in payments. Now we are beginning to witness how predictive analytics can help banks and credit unions foil payment frauds.
(RemoteDepositCapture.com, 04/15/2014)
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There have been rumblings in the media over the likelihood of consumers being vulnerable to possible check frauds as more Americans adopt mobile deposit services. The reality, however, is that check frauds are less a problem now than before the introduction of RDC options.
(RemoteDepositCapture.com, 04/04/2014)
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This article written by Matthew Frankel and published by The Motley Fool highlights an increase in the usage of mobile banking services, including mobile deposit and what may become a growing trend: banks capitalizing on mobile deposit services via cost savings and increased revenue.
(The Motley Fool , 03/31/2014)
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This op-ed, written by Robin Feldman a law professor and, published by The New York Times highlights the broad and lax standards applied to the software patent system thus resulting in the practice of “patent trolling”. This article should be of importance to the overall RDC industry.
(The New York Times, 03/28/2014)
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One credit union’s selection process for next-gen RDC solution points to value of better channel integration and enhanced fraud controls.
(RemoteDepositCapture.com, 03/12/2014)
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New mobile payment channel pairs universality of checks with ubiquity of mobiles. It’s a small business play that also leverages RDC.
(RemoteDepositCapture.com, 03/10/2014)
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The Federal Reserve is proposing to amend certain check processing rules contained in Regulation CC, and it wants to add new warranties and indemnities related to RDC to the regulation. ECCHO presentation delves into details.
(RemoteDepositCapture.com, 03/05/2014)
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This special report features the top 10 most popular articles from 2013 as well as featured articles covering the most important topics for the RDC Industry of today and tomorrow.
(RemoteDepositCapture.com, 03/03/2014)
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This article published by Credit Unions Online, begins with the story of a cautious approach to mobile RDC as some still prefer making deposits at the bank. However, this trend is fading according to a recent study. The article also focuses on the aspects of mobile deposit security and smart internet practices within the control of the consumer.
(Credit Unions Online, 02/24/2014)
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When Regulation CC was first written, in the late 1980s, check clearing was a paper-intensive enterprise. Now that check clearing is practically paperless, and even check deposits are going paperless, the Federal Reserve says the time has come to update the regulation with new collection and return rules.
(RemoteDepositCapture.com, 01/22/2014)
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This article, written by Jim Daly and published by Digital Transactions, reports on Celent findings including the growth of consumer use of mobile RDC, an increase in losses and the importance of risk management beyond duplicates.
(Digital Transactions, 01/15/2014)
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While checks and ACH now account for only 33% of transaction volume, they still account for 94% of transaction value (over $74 Trillion) and are less vulnerable to frauds than cards.
(RemoteDepositCapture.com, 12/20/2013)
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This article, published by BankNews, highlights the importance of recognizing the demands of different vertical markets when offering Remote Deposit Capture solutions to each.
(BankNews, 12/19/2013)
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This article, published by BankNews, provides a framework for choosing payment and remittance processing technologies that not only streamline the payment but also provide a positive experience to the user. FIs can leverage their Remote Deposit Capture technologies and infrastructure to provide additional payment services.
(BankNews, 12/19/2013)
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Risk management, like risk, can take many forms. That’s one reason why federal regulators have taken a broad brushed approach in their official guidance to financial institutions on RDC risk. Get insights from a recent webinar.
(RemoteDepositCapture.com, 12/17/2013)
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Checks trump other forms of payment in one important respect: information. Adding remote image presentment and mobile technologies to the mix makes real-time check validation and guarantee - possible. Best of all, consumers have shown a willingness to pay for faster access to their check deposits.
(RemoteDepositCapture.com, 11/14/2013)
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Small businesses are adopting mobile banking and deposit capture at a rapid clip. That’s great news for banks that have identified small business as a customer segment to pursue, and a headache for risk managers. But it doesn’t have to be that way.
(RemoteDepositCapture.com, 11/12/2013)
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Regions Bank is in the final stages of implementing an automated risk management utility that harnesses information from across the enterprise to effectively “re-qualify” commercial customers for RDC products on a daily basis. It’s like KYC on steroid.
(RemoteDepositCapture.com, 11/11/2013)
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Reports of the death of checks have been greatly exaggerated. In fact, image check exchange and RDC practically guarantee that check payments will dominate the payments scene for generations to come. The paper may disappear, but the payment method won’t.
(RemoteDepositCapture.com, 11/06/2013)
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Financial institutions have been trying break down the silos that separate customer channels for decades. Now it’s becoming clear that the same strategy needs to be applied to remote deposit capture.
(RemoteDepositCapture.com, 11/05/2013)
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If you can’t be the first to market with a new electronic banking option, uniqueness can be a winning strategy. That’s the approach Regions Bank took. In addition to mobile deposit for DDA customers, the Birmingham, AL-based bank offers a mobile deposit service for consumers who don’t have DDAs at Regions.
(RemoteDepositCapture.com, 11/04/2013)
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Financial institutions have long held that remote deposit capture offers value by converting paper checks to digital images that can be handled more cheaply and efficiently. But that’s a narrow view that isn’t apt to cut it in the future.
(RemoteDepositCapture.com, 10/31/2013)
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This article written by Robert McGarvey and published by the Credit Union Times depicts the journey of four credit unions – each offering mRDC. Although it may be too early to appreciate all the cost savings of mRDC, these savings are gaining traction as mobile usage continues to increase, branch deposits decline, and CUs close branches.
(Credit Union Times, 10/30/2013)
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Remote deposit capture played a central role in a series of technology and design changes that have transformed this Texas bank’s retail arm.
(RemoteDepositCapture.com, 10/29/2013)
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Online newspaper subscriptions, airline baggage handling, cable TV, smartphone apps and now RDC all have one common challenge: fostering consumer acceptance of service changes that at first blush seem to benefit the service provider over the customer. Marketing Strategist Jim Marous addressed this quandary during an RDC Summit 2013 presentation.
(RemoteDepositCapture.com, 10/28/2013)
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During a Technology Showcase session at the RDC Summit 2013 last month, executives from CONIX Systems, Inc. made a powerful case for a full enterprise approach to duplicate detections in tandem with fraud detection. And they made a pitch for greater inter-bank sharing of check data in the fight against fraud.
(RemoteDepositCapture.com, 10/24/2013)
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A new app featuring mobile RDC is spurring donations to a major charity, while reducing check-processing costs. In describing the experience during the RDC Summit 2013, Claude Edkins, a VP with the Leukemia and Lymphoma Society, said planned enhancements should bring an even bigger lift to the charity’s bottom line.
(RemoteDepositCapture.com, 10/23/2013)
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Bank of America VP Andrea Connell shared best practices, sparked dialogue and engaged attendees at the RDC Summit 2013. Her stimulating and open discussion earned a 4.7 of of 5 (5 = excellent) rating from attendees!
(RemoteDepositCapture.com, 10/22/2013)
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Dealing with the rising tsunami of data collected through RDC will mean changing how data gets evaluated and how it is valued. Analytics is crucially important. So is timing.
(RemoteDepositCapture.com, 10/17/2013)
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With fewer than 1 in 10 U.S. households currently using RDC, the market potential is huge. Yet FIs often feel hamstrung by the lack of resources to craft and sustain RDC sales and marketing campaigns. Campaigns need not be expensive, to be successful. Customer segmentation, social media, in-branch demos and free trials are some of the options.
(RemoteDepositCapture.com, 10/16/2013)
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Consumers using prepaid cards are not necessarily poor; many just prefer the cards to DDAs. Until recently, however, prepaid cards have lacked one key function: a mechanism for loading funds from checks onto the cards. That’s where mobile RDC comes in. Gary Brand, of Fiserv, discussed the trend during a Technology Showcase at the RDC Summit 2013.
(10/15/2013)
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Today, nearly every large FI offers basic scanner-based RDC to business customers. Far fewer have ventured into mobile-based RDC for commercial accounts. U.S. Bank is one.
(RemoteDepositCapture.com, 10/10/2013)
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When it comes to RDC, small business is big business, especially when mobile is added to the mix. At the RDC Summit 2013, David Rathke of Frost Bank described how Frost is positioning to move half of its check deposits from branch to self-service channels, like RDC and image-enabled ATMs.
(RemoteDepositCapture.com, 10/09/2013)
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Indiana University has achieved significant successes with RDC – like an almost immediate payoff on its implementation investment. But there’s more to be accomplished – including better security, more automation and integrated reporting – before final grades are in.
(RemoteDepositCapture.com, 10/08/2013)
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In the first 9 years of its life cycle, RDC has given rise to numerous innovations, like mobile remote deposit and account opening functionality. So what’s coming down the pike? Wireless, for sure; security enhancements too.
(RemoteDepositCapture.com, 10/07/2013)
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In the October 2013 issue of Digital Transactions, author Elizabeth Whalen focuses on RDC and duplicate deposits. This is among the first of what we expect to be many articles covering this topic.
(Digital Transactions, 10/02/2013)
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RDC is transforming financial services, creating new value propositions and new opportunities to improve operations and customer service. Last week, hundreds of attendees from banks, credit unions, solutions providers and government agencies gathered at the RDC Summit 2013 to learn about and share insights on how RDC has become the new normal.
(RemoteDepositCapture.com, 10/01/2013)
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Mobile RDC was just the start of an emerging trend to improve service and cut costs for banks. A mobile app for opening bank accounts is the latest. The endgame: streamline banking for better customer service and to attract new market segments.
(RemoteDepositCapture.com, 09/23/2013)