For Banks: Money is Moving

The Banking Administration Institute (BAI) May/June Newsletter states:

Boston-based research firm Celent LLC has predicted that as much as $150 million in commercial deposits will have migrated to banks offering [remote deposit capture, or] RDC services between mid-2005 and mid-2006.

Related article from BAI: Remote Capture: A Way to Draw the Corporate Customer Closer.

Article excerpt: The prospects of pushing check imaging from the bank out to a customer's location has sparked the imagination of many financial institutions and their corporate clients. Instead of taking its checks to the branch each day, a customer scans them at its own accounts receivable or remittance processing site, then transmits the digital data directly to the bank and the payments system for clearing. Ready to go today, the process involves no significant technology hurdles and requires minimal infrastructure to be installed by the corporate customer.