Non-Bank RDC Services A Growing Threat to Banks

Celent: Non-Bank RDC Services A Growing Threat to Banks
Does a remote deposit capture upgrade to a church-management firm’s software spell Armageddon for the banking industry’s own RDC services?

In a late July, Servant PC Resources added remote deposit features to its widely used Servant Keeper software, allowing churches to deposit check images scanned directly from off-the-shelf printer/scanners. The upgrade, made through adding check management technology from Heartland Payment Systems, does not require churches to obtain a bank RDC hardware or services agreement.

The Heartland-Servant agreement, says Celent Senior Analyst Bob Meara, “trumpets” the kind of new alternatives for small businesses to obtain RDC capabilities without needing their bank’s permission or assistance to sign up—which in many cases requires commercial credit approval and risk-assessment training. Not only are the services easier to obtain, but work better than existing bank offerings in areas like automated exceptions handling and check reconciliation with the general ledger, he adds.