Remote capture of check images has gained tremendousmomentum over the past five years as banks have moved aggressivelyto capture check images closer to the point of first presentment.Up until now the activity has been focused on medium and highvolume business locations and bank branches. The image captureaction is now moving to the home and small office/home office(SOHO) businesses. This innovation was led by USAA, which has beenoffering its own home deposit image capture solution (Deposit@Home)since 2007, and introduced the first iPhone app (Deposit@Mobile) inAugust 2009. USAA is unique with only one branch andmilitary-related customer spread across the globe, but the approachgot an important vote of confidence from JP Morgan Chase when itintroduced its QuickDeposit iPhone app in July 2010.
The latest solutions use high resolution smart phonecameras and home printer/scanners that support the TWAIN interfacestandard combined with image enhancement and risk managementsoftware. Banks gain two advantages by implementing this latestinnovation. First, banks need to increase adoption and drive moretraffic to their online banking and mobile banking sites in orderto reduce costs, increase customer convenience, and deepenrelationship value. The second advantage is the this solutionreduces check processing costs for the bank and gives customers useof the funds faster.
The latest vendor to offer a solution is Wausau FinancialSystems. The recent press release noted that ” WAUSAU FinancialSystems has a proven reputation for its mature, best-in-classremote capture products, and today announced the relaunch of itsfull suite of Remote Deposit Capture (RDC) offerings under thebrand name, Deposit 24/7™. The new remote deposit capture suite,complete with risk monitoring functionality, is a comprehensivesolution that includes mobile, consumer and merchant capturepoints, and allows convenient and secure check deposit from theoffice, at home or on the go.”