State of Remote Deposit Capture 2015: Mobile Is the New Scanner

by Bob Meara, May 26, 2015
Industry Trends
North America

Abstract

As check usage declines, mobile RDC is becoming the preferred deposit method for a growing number of bank customers. Celent expects RDC to account for a third of retail bank deposits by year-end 2015 and half by 2016.

 

Mobile RDC is where the action is, according to a new Celent report, State of Remote Deposit Capture 2015: Mobile Is the New Scanner. As RDC becomes a mature market in the US, most distributed capture methods (e.g., branch capture, image ATM, merchant capture) have plateaued. Mobile RDC is the exception. With more than half of mobile banking users enjoying the benefits of mRDC, demand is now growing among small business and commercial users. As this occurs, mRDC will accelerate the decline in branch foot traffic. So much so, Celent expects RDC to account for a third of retail bank deposits by year-end 2015 and half by 2016.

“As check usage continues to decline, mobile RDC will become increasingly relevant — not just for mobile use cases, but more broadly,” says Bob Meara, a senior analyst with Celent’s Banking practice and author of the report. “Mobile RDC is becoming the new scanner, with banks racing to offer mRDC to small business and commercial clients. This will have a profound effect on the branch channel at many institutions as branch visits are replaced with digital deposits.”

The report contains 47 figures and 7 tables.

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 subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

A Historical Perspective

4

RDC Risk and Compliance: Balance Restored

7

 

Deposit Risk and RDC Loss

7

 

Consumer RDC: Approaching Sanity

10

 

Risk Management Tools

13

Commercial Remote Deposit Capture

18

 

Financial Institution Adoption

18

 

Client Adoption

23

 

Outlook

26

Small Business RDC

28

 

Adoption Outlook

30

Consumer RDC

34

 

Consumer Desktop Is Dead

34

 

Mobile RDC

35

Solution Evolution

38

 

Vendor Landscape

41

Implications and Path Forward

46

Survey Methodology

48

Leveraging Celent’s Expertise

50

 

Support for Financial Institutions

50

 

Support for Vendors

50

Related Celent Research

51

Sign in to download reports and access personalized information