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  5. Remote Deposit Capture Vendors: Crossing the Chasm

Remote Deposit Capture Vendors: Crossing the Chasm

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18 July 2006
Bob Meara

Abstract

New York, NY, USA July 18, 2006

The end of commercial deposit services is near. Adoption of remote deposit capture technology is accelerating.

Remote deposit capture has been greeted with astonishing interest and rapid adoption. Remote deposit capture has altered the deposit services landscape. Widespread adoption of remote deposit capture is close at hand, according to a new Celent report, .

There is no longer any question concerning the competitive imperative for institutions to implement remote deposit capture technology which is now a "must have." In just 18 months, remote deposit has evolved from a novel concept to a reality with hundreds of financial institutions adopting remote deposit solutions, tens of thousands of commercial clients going live with ever-increasing velocity, and dozens of solution providers entering the market. The report compares the range of solutions available to banks looking to provide or revisit remote deposit services.

Remote deposit client applications seem to be getting all the attention. Yet, a great deal of solution functionality (and efficacy) resides behind the firewall. Celent's analysis therefore considers both client and server capability. "Improvements in product functionality have been announced at a breakneck pace, exceeded only by banks' interest in the solutions and their clients demand for them. So much so, that no single vendor captured highest marks across all four categories," says Bob Meara, author of the report and senior analyst in the Banking group at Celent.

This report examines the offerings of eleven vendors: Alogent Corporation, BankServ, Carreker Corporation, Goldleaf Financial Systems, NetDeposit, Metavante Image Solutions, Open Solutions, ProfitStars, RDM Corporation, VICOR, and WAUSAU. The report uses a framework for evaluating vendors called the Celent ABCD Vendor View, which shows at a glance the relative position of each vendor in four categories: Advanced technology, Breadth of functionality, Customer base (number of end users), and Depth of client services.

This report will be followed by a companion analysis of branch image capture vendors shortly. Together, they spotlight a decisive trend sweeping the industrydistributed image capture.

A table of contents is available online.

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