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Can Remote Deposit Capture Drive Growth?

Banks are increasingly adopting remote deposit capture solutions (RDC), but can they drive growth? First Tennessee Bank's Taylor Vaughan, Dove Consulting's Ed Bacheilder, Celent's Bob Meara, and NetDeposit's Danne Buchanan offer their perspective.

Although remote deposit capture (RDC) quickly emerged after the implementation of Check 21 as a way for banks to expand their footprints and customer relationships while potentially building revenues in a changing payments environment, industry acceptance has been somewhat slower than anticipated. Banks have tended to take a more defensive approach to RDC, focusing mainly on using it to retain existing customers and cut processing costs rather than to attract new customers. But as the technology matures, more and more banks are beginning to realize the offensive potential of RDC. So how can banks use RDC as a competitive differentiator, and can it actually drive growth? And what are the technology requirements for a successful RDC strategy?

Taylor Vaughan, First Tennessee Bank
First Tennessee Bank Expands Deposits Footprint
First Tennessee Bank launched remote deposit capture in 2003 as a way to expand its deposits beyond its traditional footprint.
Ed Bacheilder, Dove Consulting
Remote Deposit Capture Poised for Explosive Growth
Remote deposit capture (RDC) has the potential to do for business customers what ATMs and debit cards have done for retail customers through self-service and convenient 24/7 access.
Bob Meara, Celent
More Banks Adopting Remote Deposit Capture Solutions
A growing number of financial institutions have embraced remote deposit capture as a viable small and midsize business solution.
Danne Buchanan, NetDeposit
Banks Will Face Competition in the RDC Space
Third parties that can decouple remote deposit capture from the deposit relationship may pose a threat to banks in the payments space.

Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio

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