USAA Federal Savings Bank was an early-adopter of mobile RDC (mRDC) with its Deposit@Mobile product introduced in 2009, which followed the 2006 introduction of its desktop RDC product, Deposit@Home. This offers user impressions of its newest app version, currently available for the iPad and available for the iPhone and Android shortly. The upgrade offers two [...]

Last week, the Chicago Tribune broke a story that PNC was considering charging fees for its mobile remote deposit capture (RDC). The story prompted this action even though I have previously commented on the topic. Should banks charge for mRDC, especially when data suggests many consumers would be willing to pay? Heck no! Why leave [...]

American Banker published an article last week describing Bank of America’s quest to bolster the ranks of its mobile banking customer base. According to the article, the bank is outfitting its teller stations with quick response (QR) codes that can be scanned by mobile devices to download the mobile app. What a great idea! For [...]

I had the pleasure of attending the Remote Deposit Capture Summit 2012 in Orlando last week. As in prevous years, the Remote Deposit Capture Summit 2012 was a helpful networking event for those who derive their livelihood from RDC. And as in previous years, the number of new faces were few. To my eyes, there [...]

Celent recently completed the analysis of some small business research among a random sampling of 500+ small business owners with annual revenues up to $2.5 million. The universe of U.S. SMBs excluding those making less than $50k/year is roughly 25 million. The research underscored the centrality of check payments among small businesses – like it [...]

Farmers & Merchants Bank, a $2 billion-asset bank based in Long Beach, Calif., is launching an image cash letter service. The accompanying press release caught the eye of American Banker resulting in a story today on the topic, Big Check Volumes Aren’t Just for Big Banks, a Small Bank Says, written by John Adams. I [...]

What do remote deposit capture (RDC) and remote cash capture (RCC) have in common? Among other things, both RDC and RCC, treasury management products in most banks, can contribute much needed retail bank cost reductions. But, remarkably few banks are enjoying the benefits. Is it because the right hand doesn’t know what the left hand [...]

We’ve all witnessed how difficult it has become for retail banking to dig itself out of its retrospectively misplaced devotion to free checking. The recent brouhaha over several banks’ attempt to recover lost debit card interchange through monthly fees gives testimony to just how challenging this new climate has become. After a decade of training [...]

OK, just kidding. But, there is an interesting irony related to RDC that I’d like to highlight. Risk concerns loom large among the majority of U.S. financial institutions that haven’t yet made RDC available to consumers and mobile banking users. Other banks are throttling small business RDC initiatives, in part, because of risk concerns. Clearly, [...]

It wasn’t long ago, detractors of mobile remote deposit capture (RDC) offered three objections: • It won’t work • No one would use it • It’s too risky The first two objections have been thoroughly refuted through the positive experience enjoyed by the relatively few financial institutions thus far willing to challenge the status quo. [...]