Product Type: Market Research Report
Published by: TowerGroup
Published: October 2004
Product Code: R301-1033Description This TowerGroup Research Note provides an overview of remote deposit capture products being announced by several banks. This product type has been made possible by the passage of new check payment legislation and the introduction of new check image equipment and software. The Research Note provides an overview of the check deposit and presentment process and describes the impacts of Check 21 legislation on this process. Further, it identifies the market opportunities for remote deposit products, the vendors active in the market, and the various vendor products. Finally, the report describes the issues that banks must consider when offering remote deposit products.Table of Contents - TowerGroup Take-Aways
- Report Coverage
- Background
- The Market for Remote Deposit Products
- Corporations Using Deposit Concentration Services
- Businesses Receiving High-Amount Checks
- Businesses Receiving Checks at Nonpayment Locations
- Exhibit 1: Remote Deposit Workflow with Accounts Receivable Check (ARC) Truncation
- Businesses Using Internet Banks
- Retailers May Represent a Potential Market
- Impact of Image Exchange and Electronic Check Presentment
- Exhibit 2: Remote Deposit Workflow for Image-Enabled Bank
- Vendors of Remote Deposit Products
- Exhibit 3: Leading Remote Deposit Capture Vendors
- Issues Related to Remote Deposit Capture Products
- Legal Liability
- Image Quality
- Fraudulent Presentation
- Summary
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