Remote Deposit Capture Without the Headaches

Corporate remote deposit capture (RDC) is designed to allow your business customers to quickly and efficiently deposit their checks into their accounts by seamlessly scanning checks with an RDC application.

According to RemoteDepositCapture.com, mobile remote deposit capture for small and mid-sized businesses represents a $1.5 billion dollar a year revenue opportunity for banks and credit unions, and could yield an additional $1.25 billion in operational cost savings.

Not only does remote deposit capture produce revenue and cost savings for credit unions, it’s also a quicker way to grow core deposits while also meeting members’ expectations for self-service banking.

In addition, the growth estimates for Corporate RDC Capture (desktop check scanners) is expected to grow 10% year over year.

Using RDC Capture reaps additional benefits for credit unions:

• Enhanced convenience
• Streamline payment operations
• Quicker clearings
• Increase of cash availability
• Valuable cost and time savings

Although there are many positive aspects to using RDC, poor image and MICR quality can result in additional corrections and manual entry, also known as exception items. These exception items can cause major issues and setbacks for credit unions.

But there are ways to prevent this.

The poor image quality that causes these exception items results from issues with the original check itself, such as the check being damaged, having excess scenic backgrounds, and faint writing. When these images are captured, they are often flagged as exception items because the data was unable to be read properly.

Unfortunately, the repair process leads to extra manual data entry, consuming more time and creating major inconveniences and frustrations for the corporate customers.

Credit unions are experiencing significant setbacks because of this repair process. These critical errors do credit unions a major injustice by wasting employee hours and hundreds of millions of dollars per year.

This raises the question: How can credit union RDC customers reduce the headaches and work caused by poor image quality?

Canon uses its expertise in business imaging products to provide high quality solutions that will mitigate these common RDC issues. With advanced scanning technology, Canon check scanners enhance image quality for sharper image capture, resulting in better optical character recognition and courtesy amount recognition/legal amount recognition.

Canon batch-feed check scanners also avoid exception items by utilizing fine text filtering, which helps remove busy backgrounds while highlighting sometimes illegible text.

These features help eliminate extra manual processes associated with poor image quality by enhancing the character recognition and image quality on scanned check images. In addition, Canon check scanners have multiple other features that streamline the check-handling process by reducing exception items and saving valuable time and money.

BOB LADICH is business development account executive for Canon, a CUNA Strategic Services alliance provider.