The cost of RDC implementation has dropped as more members with mobile applications and compatible scanners take advantage of the service. Often RDC is integrated into other delivery channels, such as online banking or mobile banking, so members can access banking services without needing to visit a branch.
RDC reduces teller check deposit processing, which translates into lower operational costs and greater productivity. Staff can redirect their time and energy toward cross-selling products and services. In addition, RDC deposit processing costs run lower than deposits processed through shared branching or deposit ATMs.
The council white paper also covers:
In addition, four case studies examine how RDC functions in credit unions, and its chief challenges and advantages.
RDC is a great addition to the products and services credit unions offer to members, says Jennifer Weiss, Sandia Laboratory Federal Credit Union’s vice-president of information technology. “Ease of use for our members and customizable parameters are key to the success of this service, so it’s critical to choose a vendor that offers a solution that meets your individual credit union’s needs.
“Choose a solution that’s simple and easy to use for the average computer user," she says, "while offering a secure application that gives you flexibility to customize the parameters and screening guidelines that your credit union is comfortable with.”
For more information or to access the white paper, visit cunatechnologycouncil.org; select “tools and resources” and “whitepapers.”