State of Remote Deposit Capture 2009: New Markets, New Models

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5 October 2009


The financial crisis, a poor economy, and the FFIEC guidance on RDC risk have conspired to dampen the growth of remote deposit capture. Despite all these factors, 3,600 financial institutions have adopted new solutions, serving over 130,000 additional clients in the past year.

Last year, the remote deposit capture sprint to market became a marathon. The events of the past year turned the marathon into a triathlon. Capital budgets evaporated, delaying product initiatives. The poor business climate lowered RDC sales rates (along with almost all financial services products), as clients tightened their belts. Worse, the long anticipated FFIEC guidance on RDC risk, published in January 2009, caused a flurry of compliance activity, further hampering banks’ progress in this underdeveloped market.

Over 3,600 new implementations will result in an estimated 10,400 RDC-deploying financial institutions through 2009, according to the Celent report State of Remote Deposit Capture 2009: New Markets, New Models. The resulting client adoption, however, fell short of expectations, resulting in an estimated 505,250 users/scanners by year-end 2009, a growth of 35% year over year.

"The exciting thing about RDC this past year has been its continual evolution," says Bob Meara, senior analyst with Celent's Banking Group and author of the report. "New markets and new delivery models have quickly emerged. Multiple bank-neutral solutions are gaining traction as a growing number of financial institutions target consumers and small businesses for RDC using TWAIN compatible scanning methods rather than deploying specialized check scanners."