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The Green Sheet

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Small Business RDC Adoption Gains Continue; Bright Future Ahead

Thursday, May 30, 2019 (RemoteDepositCapture.com / John Leekley)

The results of this latest poll are supported by our own data, as well as independent research. Check it out.
Every month, we poll the RDC Industry on the hottest topics and issues facing the RDC Industry. Some of these polls are conducted year after year, so we can better understand industry trends. I find this month’s poll results amazing for several reasons; the results have been amazingly consistent for four years now, and the data is supported by our own, as well as independent research. I guess it helps when our site visitors and the people / organizations taking the poll are informed professionals.

This month’s poll was “What percentage of Small Businesses will be using Remote Deposit Capture (Mobile, Desktop, etc.) by the end of 2019?”. In total, we received 50 votes in the past month. The results show consistent perceived growth on Small Business RDC over the past four years.




The data also shows there remains a significant growth opportunity for FIs offering Small Business RDC Solutions as the industry could at least double. Data from the Federal Reserve Payments study as well as other reputable sources show checks remain a primary payment mechanism for businesses with volumes not only remaining constant, but actually increasing in some cases. As underlying technologies continue to improve, it should be of no surprise that Small Business RDC is a top priority for many financial institutions, as highlighted in this chart from the Results & Insights from the 2018 Mobile Deposit Industry Study Webinar;



To truly be successful with Small Business RDC in the medium and long-term, FIs need to offer solutions which help solve business challenges around data management, reconciliation, automation and integration. Valuable insights can be found by viewing the webinar “Next Generation of RDC Solutions for Small & Mid-Size Business Markets - New Market Opportunities Call for New Differentiation Tactics.”

About RDC Poll Central
To participate in close to a dozen ongoing polls, please visit RDC Poll Central. Once you vote, you can see the overall results of each poll. -And be sure to participate in this month’s new poll: Have you made a Mobile Deposit in the past month?


 


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