The Benefits of Remote Deposit Capture

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RDC

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• Remote Deposit Capture (RDC) is a program in
  which businesses use bank check scanners to
  deposit check payments instantly from the
  business location rather of transporting checks
  to the bank. Instead of experiencing a physical
  check, the financial institution encounters a
  digital copy of the front and back of the check,
  which it employs in place of the original
  document. Made possible by Check 21, RDC has
  several advantages for financial institutions and
  their business customers.
• Benefits for Financial Institutions
• RDC has some important benefits for financial
  institutions, especially reduced transportation
  costs, new revenue streams, and the possible to
  expand the customer territory - all made possible
  by image exchange technology.

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• Reduced Transportation Costs
• When a financial institution carries out image
  exchange technology, it no longer has to
  transport checks to other financial institutions
  via courier or using its own conveyance assets.
  This can bring down transportation costs annually
  by various thousands of dollars.
• Expanded Customer Territory
• Because RDC allows businesses to carry deposits
  across any distance, it admits financial
  institutions to elaborate their customer
  footprint. Institutions that once only had
  hundreds of customers can grow the customer base
  exponentially with the execution of an RDC
  program.
• New Revenue Streams
• With elaborated customer territory comes new
  revenue streams. The more customers an
  institution has, the more possible streams of
  revenue it accomplishes. New revenue streams can
  also develop through additional products provided
  by RDC, such as ACH payments and increased
  liquidity services.

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• Benefits for Businesses
• RDC also benefits business customers of financial
  institutions by allowing for faster clearing
  times, improved availability of funds, and
  consolidated account relationships - none of
  which could happen without bank check scanners.
• Faster Clearing Time
• As soon as a deposit gets to the bank, the faster
  is the chance that it clears. For businesses
  demanding to maintain a steady flow of cash, RDC
  can prove essential for supporting essential
  services. It also pads the bottom line, and helps
  quarterly reports look as healthy as possible.
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• Improved Availability of Funds
• Most companies have enough capital reserve to
  wait days for checks to clear, but any business
  would rather have the money sooner than later.
  With RDC, business can accomplish a next-day
  availability of ninety-five percent on pass
  through items drawn outside of the Federal
  Reserve District.

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• Consolidated Account Relationships
• Possibly the greatest benefit of RDC for
  businesses is it allows for them to choose what
  institutions with which they do business. If a
  business does not want to use a local institution
  for checking, it does not have to feel obliged to
  comply. With RDC, it can select any institution
  that extends RDC.
• Conclusion
• Remote deposit capture (RDC) is one of the most
  crucial advancements in banking over the last
  fifty years. For financial institutions, it
  effects in reduced transportation costs, new
  revenue streams, and expanded customer territory,
  among other benefits. The profits of RDC for the
  business customers of financial institutions
  include faster clearing time, amended funds
  availability, and amalgamated account
  relationships. For more information about the
  benefits of RDC, visit us at Pstezscan.com.