I’m starting my presentation at BAI Payments Connect 2014 this week with a simple question: Is Remote Deposit Capture (RDC) more important to your customers than it was a year ago? I hope (and expect!) the answer will be a resounding “yes”.
RDC is a great example of how a simple, reliable customer experience can transform the economics of a business process. Javelin Strategy and Research reports that processing a mobile deposit costs roughly $0.10, as compared to $4.25 if done at a teller. What fascinates me, as a technologist, is how much orchestration is takes to make this process appear seamless to the customer.
This becomes painfully obvious when an RDC transaction, especially one in a retail channel like mobile, fails. It’s a little bit like a stone skipping across a quiet pond. Every time it touches down, it leaves ripples behind. Exception reports start firing, compliance policies are triggered, your risk exposure changes subtly, and IT starts getting wind that something isn’t quite right.
Extend this analogy to a glitch or outage and that once quiet pond becomes a choppy lake. In just a few moments, it’s hard to understand where all these ripples started, how they’re related, and which ones deserve your staff’s attention.
That’s why we’re seeing a growing interest from banks in real-time monitoring and analytics of RDC transactions. Business and technical operations teams are recognizing the value in instantly spotting consumer experience issues, following those transactions, and being able to quickly research them and take action.
During my 8-minute presentation, I’ll be demonstrating how INETCO Insight – our real-time transaction monitoring and analytics software – allows you to find slow or failing RDC transactions and quickly grab the information you need to understand what’s happening.