Remote Deposit Capture in the Consumer's Hands

Abstract

The manner in which financial institutions offer payment processing to their customers and business partners has been ever evolving hand in hand with various evolving technologies. Remote Deposit Capture, one such payment process system, offers itself as one of the most popular systems in the financial sector today. The appeal to allow merchants to be able to deposit checks from their business locations without coming into the physical bank has presented itself as true business differentiator for financial institutions and affected the way that they operate. With more and more technologies utilizing mobile banking and such technologies it is only a matter of time before financial institution customers are going to be able to carry out Remote Deposit Capture (RDC) with mechanisms such as mobile devices. The overall understanding of implementing this technology is very lacking in terms of understanding what type of customer system is right, what types of risks such a system brings, and what is expected to be on the horizon for such a system in the future.