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CheckFaxRDC
CheckScanRDC Consulting About Us

June 2010
CheckFaxRDC Compared to Other Remote Deposit Capture Solutions


Imaging of checks, photographic or electronic, in high volume environments has been around a long time - in check sorters for example. The Check 21 Act enabled the exchange of check images between banks, and as a result facilitated RDC (Remote Deposit Capture) from branches and customer sites. Early RDC solutions focused on customers with fairly large check volumes and employed fairly costly dedicated check scanners and PCs. Most businesses and all consumers have a more modest monthly check volume. These are customers important to the bank. At LCG we saw the need and filed our initial patent application in 2005, which has evolved into CheckFaxRDC. Since that time dedicated scanner costs have come down and solutions for the occasional depositor have emerged including non-carrier based flatbed scanners, and cell phones. CheckFaxRDC is a very practical solution for those who make deposits regularly and deposit 100 or fewer checks per month. It works with fax machines, which nearly every business has, as well as with general purpose scanning devices, such as flat bed scanners.

RDC involves two basic components: 1) deposit information, such as found on a deposit ticket, and 2) the front and back images of the checks making up the deposit. Once the deposit is proved, deposit information and check images move on into traditional separate bank processing streams.

At a branch the customer delivers the deposit ticket and checks. CheckFaxRDC, in its basic implementation does the same thing - fill out the deposit ticket portion of the carrier, adhere the checks to the carrier, and fax the carrier fronts and backs, in any order to your bank. CheckFaxRDC is also a robust solution. It works with fax machines and general purpose scanners. Deposit information can be captured through a voice response unit prior to faxing or by entry at a PC. Captured images of the carrier with the checks adhered can be attached to e-mails.

Dedicated check scanners are great special purpose devices, but they are not cost effective for low volume depositors. Dedicated scanners maintain physical control of the check and thus ensure that the images of the fronts and backs of checks are correctly associated with each other. They align the check, image at the appropriate resolution, and often have automatic feed devices with input and output hoppers. They also require attachment to a PC and the running of an application, which works well in a business with an accounts receivable department.

Flat bed scanner and cell phone solutions implemented without a CheckFaxRDC type carrier have difficulty matching the performance of a dedicated scanner on a number of important dimensions. Check alignment pre image capture depends on the user. Scanning the fronts and backs of checks in order depends on the user. The flat bed scanner solution requires the device, which many businesses do not have. It also requires running the application on a PC, possibly interfering with other work. As some providers note, this is a solution for the occasional user, and more consumer than business oriented. CheckFaxRDC can serve the occasional market, but it is not our target.

CheckFaxRDC is a variable cost solution that does not interfere with other business processes and is very convenient for the 100 and under check per month depositor. CheckFaxRDC software receives the carrier images; converts them to the image type and resolution required by bank standards; and extracts check images from the carrier image. The carrier assures proper alignment of the check so part of the image is not lost. Because of a check's small size this can easily happen when dropped into an automatic document feed of a fax or general purpose scanner. The CheckFaxRDC carrier has a unique identifier, which enables the pairing of front and back images regardless of the order the images are sent. The deposit information is either on the carrier itself or associated with the unique identifier. On a per check basis CheckFaxRDC does require more effort on the part of the bank than dedicated check scanner based RDC, but the customer is willing to pay for that effort in exchange for a variable cost solution and a high level of convenience.



RESEARCH

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


October 2007
Small Business RDC Survey Results


ARTICLES


2013

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
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