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Types of Remote Deposit Capture Systems

Financial institutions and small businesses are increasingly incorporating this technology into their operations. The world has become a village, and companies have decided to improve their processes to give their customers the feel of a global image. Among the many technologies that businesses are incorporating in their operations are remote deposit capture tools.

Panini is a manufacturer of these tools. Their wide array of RDC devices look to improve transactions and especially check deposits. Their tools are designed to reduce fraudulent activities, secure a business’s finances, save time, increase revenue, and ensure compliance.

There are many benefits that businesses that have incorporated these technologies in their operations enjoy. They can get access to liquid funds much faster, save time and money, reduce fraudulent activities, identify bad checks much more quickly, and many other benefits. It is important to note that there are various RDC tools to cater to different business needs. They come in different prices, sizes and with different features. As much as that is the case, they all serve the general purpose of facilitating remote deposit checks.

The main distinctions you should familiarize with are how the systems work. There are essentially two kinds of systems. One is browser-based, and the other is software.

Browser-based deposit capture system

Using this system, the merchant is required to log into their bank’s remote deposit service online through a browser. Once logged in is when the merchant will be able to scan checks presented by their customers. This system could also be considered as cloud-based. The benefits of the web-based system vary from that of a software.

As you are aware, computer programs tend to take up a lot of space on a personal computer. Also, it could be very demanding with the bandwidth you are receiving from your ISP. A web-based program does not take up too many resources, and you can work with any computer, provided it can open a web browser.

As you would expect, a web-based product would be straightforward to use. There is no complicated setup needed for this system; thus, it makes training, implementation, and transition from traditional check deposits seamless. This makes the setup process easy too. Provided you have a check reader machine, you can use any computer to access the bank’s remote deposit services.

Browser-based deposit capture systems also increase security. Note that it is easy to control entry into a web browser where login credentials are required. You can limit access by making sure that the system does not stay logged in. This RDC system is also compatible with several operating systems; it is not limited to windows.

As you would expect, the web-based system comes with a set of challenges too. As much as you can access the service using any computer, the speed of transactions or processing will depend on your bandwidth. If your internet is unreliable, it will give you a headache as it will take a long time to capture the check. The other drawback of this system is that you cannot access the service unless you are online.

Software-based remote deposit capture system

The software-based remote deposit capture system set up is a bit complex compared to the web-based one. This is mainly because a software program has to be installed on a computer that will be used for transactions. This program runs on the computer and also connects with your bank and communicates through a secure connection. Businesses that are looking to scan large numbers of checks often prefer this type of remote deposit capture system.

Some of the advantages of this system include the ability to integrate with other systems in the business. They can handle bulky tasks, which makes them ideal for integrations and also scanning many checks at a go. With this system, you also don’t need to be online to scan the checks. You can work on them even when offline.

Managing the security of this system is also easy. Note that you cannot use it anywhere else, unlike the web-based one, even if you have the logins. The user must be physically near the computer to scan the checks. It is also a time-saving solution as the checks can be uploaded all at once and scanned.

Just like the web-based system, this one has its drawbacks too. One of them is that it is demanding when it comes to computer resources, be it space, or processing speed and other features. Information may be stored permanently on the computer’s drive, posing a risk to data security: this is also one of the reasons why it is not advisable to use the system in public computers.

The differences and features vary in remote deposit capture systems and tools. It is essential to assess both the benefits and drawbacks of the systems to determine which one works best for you.