Advanced Remote Deposit Capture

Remote Deposit Capture (RDC) technology delivers companies’ accounts receivable (A/R) teams with the ability to scan paper checks and remittance advices while seamlessly viewing, associating and storing all customer account data and payment information in a highly secure (and compliant), central location. RDC solutions provide a streamlined check processing solution to automatically match incoming check payments to customer accounts, deposit payments to associated settlement accounts, and post all remittance details to any back-office system in order to accelerate receivable processing and cash application operations.

No, RDC technology is not high risk, as long as you are partnering with a technology provider that provides complete security and compliance across the receivable solution.

By choosing an integrated receivables provider that delivers Advanced RDC solutions, you are able to set up check processing technology that fits your business’ unique A/R needs. Set up and implementation of RDC requires business workflow information, as well as your settlement account details and banking institution relationship. However, the heavy lifting of set up is done by your chosen technology provider—all technical details are handled by your provider and further training will be instituted to provide your A/R team with the necessary skills to manage your RDC solution after implementation.

Remote Deposit Capture provides an in-house desktop check processing solution while mobile deposit helps your field team and sales representatives to capture check payments on the spot through their mobile device.

Mobile remote deposit capture (mRDC) provides your A/R organization with the convenience to quickly and securely receive and deposit customer checks on the spot—all with a quick photo of the front and back of the check from your smartphone camera.

Typically, banks will charge for remote deposits if you are utilizing a check processing/depositing solution through your bank. However, bank-provided solutions lack the ability to post the captured remittance detail back to your back-office system(s). With third party RDC solutions, you are able to accept, process and post all check payments in a single pass.

Check with your financial institution for best practice. A remote deposit capture (RDC) system on a truly integrated receivables platform can store the image and data associated with the check electronically for easy retrieval and review.

Work with your bank to determine the best practices after electronically depositing checks. Each business and bank are unique in their own processes and requirements.

No, someone cannot send you a picture of a check. For desktop check scanning functionality, you will need to have a physical check to scan into the system. Once uploaded into the ETran system, you are able to process and manage the check payment electronically. You are also able to utilize mobile RDC (mRDC) technology to accept check payments. With mobile payment solutions, you are able to capture a picture of the front and back of a check, associate the check payment to open invoices and customer account details, and send the payment to the home office for review, deposit and posting.

Yes, with Advanced RDC solutions you are able to scan a check through your existing check scanner and the payment will be automatically deposited at the end of the day.

The Check Clearing for the 21st Century Act (Check 21) is the federal law that took effect in October of 2004. The Check 21 Act gives banks and other financial organizations the ability to create electronic images of consumers’ and businesses’ checks in a process known as check truncation. Following this act, FTNI recognized the need for advanced check processing solutions across the B2B payments landscape. This led to the creation of ETran, a platform to help A/R organizations streamline their check processing operations.

The cost of Remote Deposit Capture services is dependent upon a few factors in your business: transaction volume, all modules utilized from your technology provider, and a few other varying factors. Since the ETran platform is modular by design, pricing really depends upon your usage of the platform and your business’ unique needs.

Unlike traditional check deposit services from most banks and financial institutions, enhanced remote deposit capture options process payments and deposit checks from business customers in a timely manner with the added benefit of automatically clearing the remittance detail to post into your back-end system(s). 

Check handling associated with bank operations typically lacks the basic requirements and additional functionality to handle large volumes of paper checks while simultaneously applying and posting all payment data. With Advanced RDC technology, checks are processed electronically from a single interface with the ability to make multiple deposits to different settlement accounts.