Remote Deposit Capture Solutions 2013: ABCD Vendor View

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6 January 2014


As the race to market with remote deposit capture solutions moves from commercial to consumer mobile, some banks are rethinking what they already have installed. As of 2013, barely 10% of US financial institutions offer mobile RDC (mRDC) to consumers.

Remote deposit capture (RDC) emerged rapidly after the passage of Check 21 legislation in 2004 and hasn’t slowed down since. Instead, it’s been a race to market, or rather a series of them. First it was branch capture, then it was a race to offer RDC solutions to large commercial clients. Next was the race to avail those solutions to small business customers and finally consumers. This race will continue into 2014, with a growing number of banks integrating mRDC into commercial RDC platforms. In addition to hastily seeking mobile RDC solutions, many banks are rethinking their legacy products. In the report Remote Deposit Capture Solutions 2013: ABCD Vendor View, Celent provides a detailed look at 13 RDC solutions.

“There’s going to be lots of vendor selection occurring over the next year or so. Current solutions offer powerful risk and compliance management capabilities that earlier products lacked,” says Bob Meara, Senior Analyst with Celent’s Banking Group and author of the report. “Banks no longer have to play it safe. Instead, RDC -– particularly mobile RDC -– can be a client and deposit acquisition tool.”

This report features Celent’s ABCD Vendor View. The ABCD Vendor View presents comparative views of the vendor landscape in four areas: Advanced technology and technical flexibility, Breadth of functionality, Customer base, and Depth of client services and solutions. The report also presents common solution considerations, a vendor taxonomy, and brief advice to both banks and vendors.