State of Remote Deposit Capture 2012: A Replacement Market Emerges

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27 September 2012


With most US financial institutions now equipped with commercial remote deposit capture capability, a replacement market is emerging with up to 1,800 institutions in play.

Most financial institutions that will adopt remote deposit capture (RDC) solutions for commercial customers already have. The past two years have seen financial institutions’ adoption of commercial RDC solutions grind to a halt. Meanwhile, commercial client adoption continues. The result has been a modest industrywide gain of approximately 150,000 RDC clients, or 16%, according to a new Celent report, State of Remote Deposit Capture 2012: A Replacement Market Emerges. Celent expects continued growth of deployed scanners to commercial locations over the next three years.

Source: Vendor surveys 2006 to 2012, Celent estimates

With financial institutions now offering RDC to consumers and microbusinesses, multiple lines of business within financial institutions are making purchase decisions.

“There are clear and obvious signs of an emerging replacement market as a result, and it’s larger than we expected,” says Bob Meara, Senior Analyst with Celent’s Banking Group and author of the report. “Nearly 20% of surveyed institutions have plans or are considering switching RDC vendors, and that number is much higher among larger banks.”

The report begins with an analysis of RDC risk and compliance because it remains of primary importance to financial institutions. It covers financial institution and client adoption of commercial RDC in detail and discusses small business RDC and the vendor landscape. Cash vault capture solution evolution and adoption are then explored, and we conclude with a forecast.

The 59-page report contains 48 figures and 12 tables.