1.
Remote
Deposit
Capture
and
Its
Impacts
on
Mobile
Banking
By
Jennifer
Lewis
Financial
institutions
are
quickly
adopting
the
concept
of
remote
depositing.
A
survey
says
that
more
than
58
percent
iPhone
users
have
found
this
service
enviable.
It
further
reveals
that
around
48%
mobile
bankers
would
use
this
service
interestingly,
if
given
an
opportunity.
The
rapidly
advancing
smart
phones
have
allowed
this
technology
to
create
a
buzz
among
mobile
banking
users.
It
has
also
pulled
the
interest
of
users
not
using
mobile
banking,
to
use
this
technology.
Many
researches
and
surveys
have
clearly
depicted
the
user's
desire
to
use
mobile
Remote
Deposit
Capture
technology.
A
research
concluded
last
year
says
that
40%
of
all
consumers
and
66%
mobile
banking
users
desire
to
use
RDC.
25%
users
and
48%
mobile
banking
users
accepted
that
they
used
RDC
in
last
90
days.
Around
15%
said
that
they
want
to
use
RDC,
but
their
banks
are
still
reluctant
from
adopting
this
concept.
Through
Remote
Deposit
Capture
(RDC),
users
can
scan
a
check
and
send
the
file
to
the
bank
to
claim
payment.
This
concept
eases
the
payment
process
for
banks.
The
same
technology
could
be
used
to
add
funds
to
your
account
in
a
quicker
manner.
A
survey
conducted
by
Javelin
Strategy
and
Research
involving
25
top
retail
banks
from
the
US,
revealed
that
64%
of
25
banks
were
using
RDC
and
most
of
them
initiated
this
service
last
year.
At
present
Android
and
iPhone
has
a
market
share
of
48%
and
32%
respectively
and
the
survey
says
that
RDC
service
has
a
good
prospect,
as
one
of
every
five
customers
will
use
this
service.
This
technology
is
best
for
business
owners
because
they
deal
with
a
number
of
checks,
which
contain
few
for
bigger
amount
processing
and
needing
an
extra
attention
while
processing.
A
manual
process
takes
a
longer
time,
which
affects
the
productivity
of
the
businesses.
Faster
processing
means
faster
payment
and
faster
delivery
of
the
products.
This
use
of
RDC
has
gained
a
sudden
boom
because
it
is
an
electronic
process
and
consumes
less
time.
Banking
experts
say
that
this
is
just
the
beginning
and
with
the
growing
number
of
smart
phone
users,
more
and
more
customers
will
become
familiar
with
this
service
and
use
them.
They
say
that
rising
numbers
of
smart
phone
mobile
banking
users
are
making
banks
rethink
on
their
strategies
and
mull
over
how
to
re-­‐engineer
mobile
banking
service
and
provide
an
enhanced
mobile
banking
experience.
In
addition,
the
swiftly
rising
number
of
mobile
banking
users
has
pressurized

2. financial
institutions
to
implement
RDC
and
stay
in
the
competition.
The
research
conducted
by
Javelin
says
that
the
usage
of
Mobile
Remote
Deposit
Capture
has
grown
in
recent
times
as
one
of
every
four
smart
phone
users
has
joined
the
bandwagon
in
the
past
three
months.
The
Executive
Vice
President
of
a
reputed
bank
says
that
banking
institutions
and
credit
unions
would
be
wrong,
if
they
rest
on
the
laurels
achieved.
They
should
not
think
that
getting
an
app
to
smoothen
the
mobile
banking
process
is
sufficient
for
their
institution.
Time
is
running
out
and
banking
institutions
must
look
to
offer
this
service
before
its
absence
start
affecting
the
customers,
and
they
start
going
hither
and
thither.
Thus,
it
has
become
very
urgent
for
the
banking
sector
and
financial
institutions
to
adopt
RDC
concept,
as
it
will
help
them
in
augmenting
their
business
and
revenue
as
well.
However,
as
I
always
say
that
every
coin
has
two
faces,
it
is
equally
important
for
them
to
pay
attention
towards
tackling
the
fraud
and
conning
that
RDC
concept
will
introduce.