Many credit unions have been faced with sharp reductions in capital spending in the past year, but that hasn't stopped them from rapidly adopting branch image-capture solutions, said a new report from research and advisory firm Celent.
Spurred by "near ubiquitous image exchange adoption and the increasing cost of processing paper checks," an estimated 2,300 U.S. financial institutions implemented some form of branch image capture in the past year, bringing the total number to more than 12,000, the new report said, adding that credit unions were a bit more likely to have adopted by now than banks.
About 80% of all U.S. financial institutions have branch capture solutions in place or in progress, and in two years, Celent forecasts that 95% of U.S. financial institutions will be using image capture in the back office or at the teller line in some way.
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