Reducing Costs on Mobile RDC – A BAI Banking Strategies Article

bai banking strategiesMobile-based remote deposit capture (RDC) is a key asset for banks expanding their deposit capture portfolio and customer service offerings. Customers win as deposits can be made anywhere and at anytime. Individuals don’t need to worry about losing checks. Small businesses don’t need to make special trips to their bank after receiving a few accounts receivables. In an “always on” society, mobile RDC as a differentiating factor will quickly become a banking requirement.

Mobile RDC as a core banking service should also open up new revenue streams for financial institutions since processing a mobile deposit costs roughly ten cents, as compared to $4.25 if done at a teller, according to Javelin Strategy and Research. So, along with keeping customers happier through new revenue potentials and cost savings, mobile RDC can contribute positively to a bank’s bottom line.

Read this article from BAI Banking Strategies.