CUNA Tech Council: Streamlined RDC Services a Growing Necessity
Perhaps one of the most revolutionary of the online banking revolution is the ability for members to scan checks and deposit them electronically, a natural outgrowth of the remote-deposit capture technology that began in the back shop with Check 21.
In fact, it's hard to find a downside to RDC-since it allows credit unions to receive and deliver checks electronically and process them rapidly, saving both time and resources. But what must credit unions and their members know to efficiently use the service? Can it increase the likelihood of risk and fraud, and if so, how can that be avoided?
The second, the $25 million WV United FCU of Charleston, W.Va., uses RDC to allow its small group of members to bank exclusively online and reports a successful, secure, low-cost experience. The third case study took place at the $7.3 billion Alliant CU in Chicago, which offers RDC to reduce costs and convenience members and said its biggest challenge has been spreading the word about the service.
In the final and fourth case study, Thompson interviewed executives at the $4.1 billion Randolph-Brooks FCU in Live Oak, Texas, which introduced RDC to serve its many out-of-area members. The credit union offers mobile remote-deposit capture, and its biggest challenge has been handling poor-quality check image photos taken with mobile phones.