Lighthouse Consulting Group, LLC

Consulting

November 2005
Small Business - A Remote Capture Opportunity

Remote check image capture is a way to meet the needs of business customers for whom a trip to the bank is something they would pay to avoid, or to attract new customers who in the past have felt the bank's branches were inconvenient. Remote capture can be a great business opportunity - one of those infrequent occasions to rewrite the competitive landscape to your advantage.

Remote capture from customer sites is not about bank operational savings. It is about a revenue opportunity, a opportunity to better serve customers, an opportunity to attract new customers cost effectively, and an opportunity to get more out of existing and planned branches.

Remote capture is not just a service desired by businesses with a high volume of checks. In fact in today's environment where image clearing is progressing more slowly than anticipated largely because big banks are not yet ready to receive images, the best opportunities may be with companies with more modest numbers of checks and for whom the current method of deposit may be inconvenient or costly. The cost of a trip to the bank doesn't vary significantly with the number of items in the deposit. Firms with few, but high value checks often have more costly staff making bank runs than those which receive large volumes of low value checks. The cost of printing a few substitute checks for a customer who deposits a few high value checks does not adversely affect profitability or the value to the customer. We estimate there are over 5 million businesses with less than 100 employees in non-cash intensive businesses, who are potential candidates for this service.

Lighthouse Consulting Group serves the needs of the banking industry. For the last four years we have been working on various aspects of remote check capture from business sites - development of a stand alone device for a major non-traditional bank equipment manufacturer, market research, strategy tools, and most recently a patent application for capture using FAX machines. With our data partner, Brand Partners, we help banks evaluate the market opportunity remote capture from business sites presents, and if appropriate plan a high profit low risk program.

RESEARCH

March 2011
Small and Home Busines Check Deposit Practices 2010-11 Survey Results

October 2007
Small Business RDC Survey Results

ARTICLES

2013

LCG Granted Patent for Remote Deposit Capture

2012
Some Small and Home Businesses Willing to Pay Large Premium for RDC

Small and Home Businesses Are Not All the Same – An RDC View

2011
Lighthouse Consulting Group, LLC Granted Patent for CheckFaxRDC Application

2010 Survey of Small and Home Business Check Deposit Practices Now Closed

2010

LCG Sets Up LinkedIn Small and Home Business Depositor Group

CheckFaxRDC Compared to Other Remote Deposit Capture Solutions

2009
Looking Beyond the Averages When Offering RDC to Small and Home Businesses

2008
Oil Prices, Credit Crises - Alternate Routes to Remote Deposit Capture Growth

What will the role of branches be in 2015?

Remote Deposit Capture Creates Market Segmentation Opportunities

2006

Fax Machines - Check Scanners
Small Business Already Have

2005
Small Business - A Remote Capture Opportunity

Remote Check Image Capture - Business Case Behind the Marketing Opportunity

2004
Check 21 a Marketing Opportunity!

2003
Check 21 Act Passes Congress - Opportunities and Concerns

When Will Banks Get On
Board for Check Imaging?

Customer Relationship Management - Why Expectations Go Unmet

Recover from a Disaster or Risk Customer Attrition

Internet Attacks May Be the Least of Your Worries!

Losing the Paper Chase

2002
Fewer Checks to Be Written and Even Fewer to Be Posted

Depositing Checks from Your Office