Customer acquisition and retention are the primary drivers of these banks in adopting the new technology. These institutions have joined a growing segment of community banks expanding Check 21-enabled capabilities to include remote deposit capture (RDC).
Open Solutions continues to experience an increased interest among community banks in its remote deposit capture solution, ISeDeposit. Users of Open Solutions’ ISeDeposit can benefit in terms of geographic expansion without additional expense, extended deposit deadlines, elimination of manual processes, improved collections and reduced costs in processing paper checks.
Marcell King, vice president and co-general manager of Open Solutions’ Imaged Payment Technologies Group, said: It is no surprise the Federal Reserve is describing remote deposit capture as one of the most important developments the US banking industry has seen in years. The convenience, reduced transportation costs and processing efficiencies alone provide substantial competitive advantages to banks.
