New York, NY, USA
July 18, 2006Remote Deposit
Capture Vendors: Crossing the Chasm
Report Published by Celent
The end of commercial deposit services is
near. Adoption of remote deposit capture technology is accelerating.
Remote deposit capture has been greeted
with astonishing interest and rapid adoption. Remote deposit capture has
altered the deposit services landscape. Widespread adoption of remote
deposit capture is close at hand, according to a new Celent report, Remote
Deposit Capture Vendors: Crossing the Chasm.
There is no longer any question concerning
the competitive imperative for institutions to implement remote deposit
capture technology which is now a “must have.” In just 18 months,
remote deposit has evolved from a novel concept to a reality with hundreds
of financial institutions adopting remote deposit solutions, tens of
thousands of commercial clients going live with ever-increasing velocity,
and dozens of solution providers entering the market. The report compares
the range of solutions available to banks looking to provide or revisit
remote deposit services.
Remote deposit client applications seem to
be getting all the attention. Yet, a great deal of solution functionality
(and efficacy) resides behind the firewall. Celent’s analysis therefore
considers both client and server capability. “Improvements in product
functionality have been announced at a breakneck pace, exceeded only by
banks’ interest in the solutions and their clients’ demand for them.
So much so, that no single vendor captured highest marks across all four
categories,” says Bob Meara, author
of the report and senior analyst in the Banking group at Celent.
This report examines the
offerings of eleven vendors: Alogent Corporation, BankServ, Carreker
Corporation, Goldleaf Financial Systems, NetDeposit, Metavante
Image Solutions, Open Solutions, ProfitStars, RDM
Corporation, VICOR, and WAUSAU. The report uses a
framework for evaluating vendors called the Celent ABCD Vendor View, which
shows at a glance the relative position of each vendor in four categories:
Advanced technology, Breadth of functionality, Customer
base (number of end users), and Depth of client services.
This report will be followed
by a companion analysis of branch image capture vendors shortly. Together,
they spotlight a decisive trend sweeping the industry—distributed image
capture.
A table
of contents is available online.
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