Banks can substantially reduce their transportation costs both for bringing Cheques from their branches & ATMs to their processing facilities, as well as their forward clearing costs

Remote Deposit Capture can open the doors to a whole new set of revenue streams for banks. Here are a few examples:

• New Clients:

An RDC product can attract new clients who otherwise would not have banked with your institution.

• Larger Wallet Share with existing clients:

An RDC service can enable your clients to consolidate their deposits with your bank, regardless of geographic coverage.

• Additional Products:

New and Existing clients will be more likely to utilize additional products from their RDC service provider. A couple examples:

• Liquidity Services:

If a corporation is able to consolidate their depository accounts with your banks, it is likely they would be interested in, and have a need for, enhanced liquidity services. Larger volumes of Cheques often results in larger balances left in the account.

• Elimination of Geographic Boundaries:

Banks which offer a Remote Deposit Capture service can now accept deposits from customers outside their physical footprint.

• Reduced Processing & Clearing Costs:

Cheque couriers used for forward clearings often charge a standard pickup fee plus applicable weight charges

Corporations which utilize a Remote Deposit Capture service stand to gain the lion's share of the benefits of Remote Deposit Capture.

• Accelerated Clearings:

The Remote Deposit Capture service offered by most banks allow corporations to capture deposits in their office / processing center, branch, etc and can eliminate the need for the Cheques to be transported to the bank.

The ability to capture images of cheques and send these images to the Bank as and when the Corporate receives the cheque , enables the corporate customer to provide data and image files to the Bank – allowing them to send for clearing immediately.

This will eliminate the delay in transportation and carrying over the presentation of the cheque to T+1. This results in a quicker realization of funds

• Improved Availability:

Closely related to accelerated clearings, Improved Availability results from the ability to now make deposits earlier in the day. Most large banks offer availability schedules which vary depending upon time of deposit. The earlier a corporation can make the deposit at the bank, the better an availability schedule can be assigned to that deposit because the bank now has more time to process and clear the items.

• Improved Cash Flow:

Accelerated clearings and improved availability result in improved cash flow and working capital for your corporation.

• Reduced Return Item Risk

This one is quite simple, the faster an item clears, the faster you'll learn about return items.

• Reduced Transportation Costs / Convenience:

Now that full truncation of Cheques is possible, substantial savings can be had from reductions in transportation expenses

• Reduced Processing Costs:

At a minimum, a corporation can save time and money by using a Remote Deposit Capture solution to eliminate, the time and expense of traveling to the bank, and the time spent balancing the deposit & associated keying. Additional benefits can be had by using a Remote Deposit Capture solution as both your remittance processing, and your financial transaction processing platform.

• Consolidation of banking relationships:

Remote Deposit Capture can enable consolidation of banking relationships. No longer does a corporation necessarily need to have the local bank around the corner to make Cheque deposits. With a Remote Deposit Capture solution, there are no longer geographic "footprints" for depository relationships. The combination of business portability and competition between banks for corporate deposit business will prove a windfall for corporations. Clearly, the larger the corporation and the more volumes of items to deposit, the greater the potential opportunity.

OUTWARD PRESENTMENT

Corporate Remote Capture
Scan and enter data with maker and Checker roles, update the back end database after the required validation and Batch Balancing.

Corporate Cheques Verify Window
Separate workflow for handling Cheques Scanned from Corporate.

Outward Return
Listing of outward return transactions list for internal view and standard TXT file will be created.