Bank Systems & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


10:36 AM
Connect Directly

Celent: Banks Looking to Replace RDC Solutions

A new Celent report breaks down an increasingly competitive remote deposit capture market and analyzes various vendors.

As more banks plan to roll out mobile RDC solutions for consumers and commercial clients, and some looking to replace the solutions they already offer, the RDC vendor market will grow more competitive over the next year, according to a new study from Celent, titled “Remote Deposit Capture Solutions 2013: ABCD Vendor View.”

Only 10% of US financial institutions currently offer mobile RDC to consumers, the report noted, with many banks planning to launch this year for both retail and consumer clients.

And some banks are also beginning to think about replacing their current RDC offerings, the report showed. A Celent survey found that 12% of banks that offer RDC solutions are considering replacing their current solution with another vendor, and 5% plan to do so in the next year.

[Check Out: Mobile RDC for Commercial Clients On the Horizon]

All of this will lead to a hot market over the next year with new and improved solutions available, Bob Meara, the report’s author, said. “There’s going to be lots of vendor selection occurring over the next year or so. Current solutions offer powerful risk and compliance management capabilities that earlier products lacked,” he explained. “Banks no longer have to play it safe.”

The report compares 13 different RDC vendors and their solutions based on their technology, functionality, customer base and client services.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.