Don’t Dread the Shred (Part #2): Managing the Paper of Remote Deposit Capture (RDC)

November 7, 2012 / 0 Comments

In our blog post on September 4, 2012, we talked about several risk factors for merchants, banks and mobile RDC users. One of the key points of recent interest was the process of managing deposited checks for a period of time before they are destroyed or shredded; or as defined in the FFIEC guidelines, “appropriate technology and process controls should be implemented at both the financial institution and the customer’s location to address operational risk.”

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11 Capabilities of Teller Image Capture You Need to Ask For

October 19, 2012 / 0 Comments

There are white papers galore written by the industry’s best teller image capture providers which explain the business case behind teller image capture. It’s encouraging to the market that this workflow is catching on in both large financial institutions and community banks. In fact, based on a recent flurry of large banks making decisions to move to teller image capture, the numbers for this market segment should reach nearly 60% per Celent.

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Duplication of Payments from Both Sides of the Coin

October 4, 2012 / 0 Comments

Duplicate payments can hit an account at a paying bank at any time causing consumers and businesses alike to be overdrawn or charged extra fees. Bankers hate duplicate transactions because at times they can be held liable for the double posting, and it creates customer dissatisfaction even if the errant item is first deposited at another bank. Most of the duplicate incidences at the paying bank are due to…

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How Virtualization Helped Recognition and Image Fraud Prevention Thrive in Banking

September 12, 2012 / 0 Comments

Years ago, when Moore’s law was running strong, the industry saw CPU capacity doubling in a 2 year period. This advancement gave handwriting and OCR recognition vendors hope that applying new algorithmic approaches for image analysis would ultimately translate into cost-effective solutions. Hardware was always “behind the curve” of algorithms, and thus end-user customers many times chose not to implement new technology due to the heavy hardware requirements and costs of doing so.

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Mobile RDC: Addressing Check Disposition Concerns

September 4, 2012 / 0 Comments

Mobile banking has expanded “online banking” into the realm of immediate gratification; how perfect for today’s younger generation. But actually, it’s not only GenY-ers who want instantaneous information and accessibility. The list also includes business people, soccer moms, college students and just about everyone with a smart phone.

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4 Quick Tips to Help Merchant and Commercial Accounts Identify Check Fraud

July 30, 2012 / 0 Comments

Every business fears the potential losses associated with accepting counterfeit and forged checks. Although banks lose an estimated 893M per year in check fraud, the untold story of losses at the merchant/business location is more dramatic. Industry consultants have estimated these losses can be as high as $10B per year!

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