State of Remote Deposit Capture 2008: Sprint Becomes a Marathon

by Bob Meara, October 15, 2008


New York, NY, USA October 15, 2008

The past year has seen  remarkable remote deposit capture solution adoption among midsize banks, community banks, and credit unions. By the end of 2008, two-thirds of all US banks and 40% of all US financial institutions will have adopted RDC.

Remote deposit capture’s race to market in 2005 came with great excitement, but not without costs. After the initial rush, many financial institutions have stepped back, making sure they are ready for the long haul. Products and platforms are being revisited, along with procedures, staff training, customer support, device deployment, and pricing. The resulting climate is markedly different even from than one year ago. RDC adoption will continue to grow unabated, but at a slower rate than previously predicted. The sprint has become a marathon.

Over 3,000 new implementations will result in an estimated 7,200 RDC-deploying financial institutions through 2008, according to a new report

"Celent finds the RDC market still relatively untapped, with no indication of overstatement in earlier estimates of market opportunity, as many as 5 million capture points by 2014," says Bob Meara, author of the report and senior analyst with Celent’s Banking Group. "What is now clear, however, is that realization of the market opportunity will take longer than originally thought, particularly considering the tumultuous conditions of the US financial services industry."

The 74-page report contains 25 figures and 22 tables. A table of contents is available online.

of Celent's Corporate Banking and  Retail and Business Banking research service can download the report electronically by clicking on the icon to the left.  Non-members should contact for more information.  

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].

Media Contacts

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Michele Pace
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Europe (London)
Chris Williams
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
Tel.: +81 3 3500 3023

Table of Contents

New York, NY, USA October 15, 2008

State of Remote Deposit Capture 2008:  Sprint Becomes a Marathon


Executive Summary 3
Check Image Processing:  The Bigger Picture 8
Remote Deposit Capture 13
  Financial Institution Adoption 14
  Client Adoption 21
  Emerging Channels 26
  RDC Emerging Provider Landscape 31
  Solution Evolution 36
  RDC Risks 40
  Outlook 43
Consumer Capture 47
  Basis for Interest 50
  Solution Provider Landscape 54
  State of Adoption 55
  Operational Results 56
  Outlook 57
Cash Vault Capture 60
  State of Adoption 61
  Outlook  63
Capture Devices 65
  Changing Landscape 65
  Installed Base 66
Conclusions 73


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