Press release
Remote Deposit Capture (RDC) Market to Capitalize on Rising Demand for Mobile Deposits
In its new report, titled “Remote Deposit Capture (RDC) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” Transparency Market Research studies the global market for remote deposit capture (RDC) in a ground-up manner, covering aspects such as market definition, classification, and projected growth trajectory.RDC is a novel technology introduced to simplify the otherwise time-consuming banking process. It is a three-step method, including scanning of digital images, verifying it, and then depositing it in the bank. Remote deposit capture helps reduce the time needed for depositing checks by eliminating the need to buy deposit slips, photocopy checks, and engaging the bank employees to process the request.
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The advent of RDC is intended to add value to the banking industry. RDC offers several advantages, some of which are: intelligent document and character recognition, data management, ability to feed internal systems, smart clearing capabilities, and others. A bank can successfully deploy RDC if it has a few basic requirements, such as internet connection, check scanner, service provider, and a personal computer. With RDC services, checks can be truncated and cleared electronically.
Merchant RDC offers a plethora of benefits such as improved cash flow, day ledger transaction, convenience of depositing checks in-house, and efficient customer services. These advantages over traditional banking methods are boosting the global market for remote deposit capture. The advent of electronic gadgets such as advanced smartphones and tablets is providing greater accessibility to RDC services, thereby fuelling demand from around the world.
The global market for RDC is broadly classified on the basis of geography and business size. Based on business size, the market is segmented into large, medium, and small-sized businesses. RDC enables banks to lower their operational costs, in turn enabling them to focus more on ensuring better customer satisfaction. Additionally, the advent of RDC has also enabled the banking sector to provide better financial solutions for small businesses, tailor-made to suit the specific consumer requirements.
Regionally, the global RDC market can be segmented into Asia Pacific, Europe, Latin America, the Middle East and South Africa, and North America. Of these, North America led the global RDC market due to the presence of large American banks in the region such as Citibank, Bank of America, Wells Fargo, and Chells. All these banks offer the facility of mobile deposits, in turn bolstering the demand for remote deposit capture from North America.
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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