Tuesday, November 10, 2015
In his opening remarks at the general session, RemoteDepositCapture.com founder and Chief Executive Officer John Leekley described remote deposit capture (RDC) technology as an international technology platform that can handle payments and related data. "RDC is a payments platform, not a check payment type," he said. "It's a middleware, delivery channel and technology service that can be applied to different markets and use cases."
This broader definition of RDC was a recurrent theme throughout the conference, as industry leaders shared varying perspectives on risk management, cybersecurity, mobile payment technologies and retail and commercial banking.
RDC traces its origins to October 2004, when the federal Check Clearing for the 21st Century Act, known as Check 21, was implemented. The law was designed to make check processing more efficient by allowing financial institutions in the United States to electronically truncate and process checks.
The associated benefits of remote electronic deposits include convenience, cost savings, reduced risk exposure and more efficient processing. Payments analysts have credited the technology for helping banks grow beyond their physical footprints by offering RDC services instead of opening brick-and-mortar branches. Such services can help financial institutions attract new customers and encourage existing customers to consolidate their banking functions. Additionally, the Federal Reserve charges about 5 cents less per item to process images instead of paper checks, which can save financial institutions millions of dollars per year.
Variously called corporate capture, merchant capture, image capture, among other names, the technology has played a pivotal role in banking and payments. Improvements in Internet technology combined with partner requirements have further shaped RDC's evolution into a multi-channel platform with a uniform structure and common application program interfaces.
RDC Summit 2015 provided a diversity of keynote addresses, break-out sessions, technology showcases and networking opportunities. Following is a sampling of trends explored at the conference:
Alpharetta, Ga.-based RemoteDepositCapture.com was established in 2005 as a centralized authority and resource dedicated to providing information, case studies and networking opportunities to individuals and companies in the expanding RDC value chain. The company's website, www.remotedepositcapture.com , provides industry news, press releases, a directory of service providers, a monthly newsletter, white papers, sponsored webinars, community forms and the RDC Consulting and Audit Network.
RemoteDepositCapture.com offers further benefits to members, including discounted RDC Summit registration; continuing education credits; and exclusive access to special reports and papers, webinar and RDC Summit recordings, and downloadable Scanner Matrix.
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