Remote Deposit Capture Vendors: Crossing the Chasm

by Bob Meara, July 18, 2006


New York, NY, USA July 18, 2006

The end of commercial deposit services is near. Adoption of remote deposit capture technology is accelerating.

Remote deposit capture has been greeted with astonishing interest and rapid adoption. Remote deposit capture has altered the deposit services landscape. Widespread adoption of remote deposit capture is close at hand, according to a new Celent report, .

There is no longer any question concerning the competitive imperative for institutions to implement remote deposit capture technology which is now a "must have." In just 18 months, remote deposit has evolved from a novel concept to a reality with hundreds of financial institutions adopting remote deposit solutions, tens of thousands of commercial clients going live with ever-increasing velocity, and dozens of solution providers entering the market. The report compares the range of solutions available to banks looking to provide or revisit remote deposit services.

Remote deposit client applications seem to be getting all the attention. Yet, a great deal of solution functionality (and efficacy) resides behind the firewall. Celent's analysis therefore considers both client and server capability. "Improvements in product functionality have been announced at a breakneck pace, exceeded only by banks' interest in the solutions and their clients’ demand for them. So much so, that no single vendor captured highest marks across all four categories," says Bob Meara, author of the report and senior analyst in the Banking group at Celent.

This report examines the offerings of eleven vendors: Alogent Corporation, BankServ, Carreker Corporation, Goldleaf Financial Systems, NetDeposit, Metavante Image Solutions, Open Solutions, ProfitStars, RDM Corporation, VICOR, and WAUSAU. The report uses a framework for evaluating vendors called the Celent ABCD Vendor View, which shows at a glance the relative position of each vendor in four categories: Advanced technology, Breadth of functionality, Customer base (number of end users), and Depth of client services.

This report will be followed by a companion analysis of branch image capture vendors shortly. Together, they spotlight a decisive trend sweeping the industry—distributed image capture.

A table of contents is available online.


Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

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Table of Contents

New York, NY, USA July 18, 2006


Executive Summary 3
We Have Crossed the Chasm 6
  Solution Primer 7
  Trends: What a Difference a Year Makes 10
Solution Considerations 15
  How Thin Is Your Client? 16
  At the Bank: Server Functionality 18
  Feature Inventory 20
Taxonomy of Vendors 25
Celent's ABCD Vendor Analysis 29
  The Results 29
  Advanced Technology 30
  Breadth of End User Features 32
  Customer Base 36
  Depth of Client Services 38
A Vendor Selection Case Study 41
Vendor Spotlights 45
  Alogent 45
  BankServ 48
  Carreker 51
  Goldleaf Technologies 54
  Metavante Image Solutions 57
  NetDeposit 62
  Open Solutions 65
  ProfitStars 68
  RDM 72
  VICOR 76
Future Trends 83
Objectivity and Methodology 86

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