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Remote Deposit Capture

February 27, 2008

What does remote deposit capture (RDC) have in common with the telegraph, telephone, fax machine, e-mail, and text messaging? They were all new or modified forms of delivery systems. Each one improved on the timeliness, flexibility, and capacity of transferring information. RDC provides banks and/or customers with a means to electronically transmit a check for processing instead of physically transporting the check by hand, courier or mail.

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Many institutions either have implemented an RDC solution or are considering RDC solutions to enhance customer convenience, shorten clearing and settlement times, increase operational efficiency and improve access to customer market shares beyond branch and ATM networks. While there are many potential benefits, RDC may also present potential risk exposures to the institution that require further analysis.

Senior Manager George Mori will share his views on the inherent risks and control practices to consider in managing RDC for your organization. Poor planning, management and implementation of RDC could result in:

  • Reputational risk from customer dissatisfaction or information security breaches;
  • Financial losses from fraud, errors, and credit risk; and
  • Legal risk from noncompliance with regulations and/or industry standards.

The session is geared primarily toward the officers or managers responsible for planning, implementing and managing RDC system and check processing, such as the IT officer/manager, back office operations officer/manager, information security officer, and credit risk officer.