As I talked to a number of vendors and prospective clients at the 2012 RDC Summit it was clear to me how far the Remote Deposit Capture Industry has evolved since its inception in 2004. It was only a number of years ago that the RDC value proposition was based on two primary factors saving a trip to the bank and faster funds availability. My, how times has changed! What was once a high value product has become a commodity in a few short years. The reason for this is simple there was too much emphasis on the cost of the transaction, instead of focusing on the benefits of RDC within a Corporates overall payment system.
Understanding the complexity of the Corporates payment system and where the pain is can be usually identified early up front in the discovery process. RDC tools and applications are essential in providing operational efficiencies and savings for a Corporate, but they are just one area within the entire payment solution. Software solutions that can transform the entire payment system are indeed the most valuable.
Originally Published July 2, 2013.