A little off the beaten path here, but important...if you have seen the new ATM machines a the banks you will also see OCR technology being used, deposit a check, no envelope required..well now for those folks who still do paper instead of transfers and on line banking, there's another answer for folks who do use on line banking to deposit those things without having to go to the bank...Bank of America is almost ready to rock and roll... you do need a little hardware and can read about it here...so for a practice that still receives check...nice way to handle this without physically going to the bank! I knew before too long someone would come up with a solution for the paper junkies of the world...big help for hospitals too...BD
Remote Deposit Capture has been called “The most important development the (U.S.) banking industry has seen in years” by the Federal Reserve and others. Almost all of the RFPs (Request for Proposals) Cash Management groups at the the largest banks in the USA receive now request information on this service, and nearly all of the top banks in the USA have either just launched the service, or are well on their way to doing so.
The commonly-viewed benefits of this new service, referred to as Remote Deposit Capture (RDC), include convenience, better deposit availability and reduced transportation cost & risk. It is important to note that not all solutions are the same. Additional functionality such as Intelligent Character & Document Recognition, data management through business rules, the ability to feed internal systems, intelligent clearing capabilities and many others can further add value to the business case.
Remote Deposit Capture is a must-have product solution most US-based banks are racing to develop and get to market, and a service every corporation or correspondent bank should consider.
True, new technologies are eliminating paper checks, but the fact is that they are still heavily used especially for business. As such the ability to remotely deposit checks offers significant advantages. It will be interesting to see the impact that this technology will have. I found a list of benefits for this service at www.remotebankdeposit.com.
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