Commercial remote deposit capture (RDC) adoption has slowed, growing only by 10% in 2011, according to a new Celent report, “State of Remote Deposit Capture 2011: Signs of a Maturing Market.”
The culprit of mediocre commercial RDC growth, which refers to business customer-specific RDC solutions, is the increasing popularity of mobile RDC solutions, Celent said.
This year, financial institutions gained 65,000 commercial RDC clients, and by the end of 2011, nearly 7,100 financial institutions will offer at least one commercial RDC solution and have an estimated aggregate 755,000 commercial RDC users or scanners, all of which reflects minor growth, the think firm said.
Celent's report also pinpoints three key commercial RDC trends from 2011: mobile RDC is at the forefront of financial institutions' and vendors' minds, which will lead to a surge in new mobile RDC product launches; financial institutions have mastered RDC compliance, which allows more room to focus on product launches and sales; and commercial RDC adoption has slowed to a crawl.
“With the low hanging fruit already picked, new client RDC sales have been more difficult,” said Bob Meara, the report's author and a senior analyst for Boston-based Celent's Banking Group.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
