Remote deposit capturing more interest among small businesses

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by. Rhende Wilton

In my January blog I discussed the continued preference that small businesses show for paper checks for business-to-business payments.   So it may not be a surprise that local bank branches remain the preferred channel for most business deposits.

However, in both cases, there is great opportunity for financial institutions to step in and offer more efficient solutions that retain the bank or credit unions role at the center of the relationship.  In fact, it now appears that small business interest in Remote Deposit Capture (RDC) is on the rise. Research released in early April by Aite Group indicates a notable increase in the use of RDC over the last two to three years.

The authors of the report, “Small-Business Remote Deposit Capture: Finally Going Mainstream,” found that among businesses generating between $10 to $20 million in annual revenue, more than one-third make the majority of their deposits via traditional scanner-based RDC, and 10 percent more do so via mobile RDC.

“This represents a very different picture from just two or three years ago when Aite Group estimated that fewer than 10 percent of small businesses had even adopted RDC,”

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