Remote deposit capture is the buzz when it comes to the banking industry and emerging technology. The Check Clearing for the 21st Century Act paved the way for financial institutions to truncate checks not only at the bank of first deposit, but also at the merchant’s place of business. Deposit automation has moved deposit processing from the back office of the financial institution to the customer’s office! Remote deposit creates new challenges and risks for financial institutions. A financial institution that offers remote deposit is turning over the back office function of capturing checks and making images of the checks to its customers. We will provide you with a blueprint on how to devise a strategy for remote deposit capture.
One of the greatest challenges facing community banking today is creating a strategic plan that is relevant to the market, matches your organizational culture and can be easily implemented. What is often overlooked as part of the design process of creating a strategic plan is a technology plan. That is the technology road map that can connect the strategic dots of the organization in rational and clearly established steps. The technology plan represents the “how to get there plan” and is being asked for more and more by bank examiners as a function of their periodic review of your organization. Furthermore, the regulatory climate has changed and a technology plan is expected to be a standard component of every strategic plan.
- How can the internet expose us to additional risks?
- What are the increased regulatory expectations of our institution?
- Do we have a technology plan that matches our stategic plan?
- Have we created technology standards for our company?
- At what what level should our board of directors be involved?
- Is our executive management team responding in the right context to risk?
Today′s payment systems are complex and endless: Check 21. Remote deposit. ACH. Credit cards. Debit cards. Stored value cards. Payroll cards.
Do you fully understand your options? How does your financial institution compete in today′s economy?
One of the requests that The Copper River Group receives most often from clients and prospective clients is assistance with negotiating new contracts, contract renewals and vendor reviews.
The industry is constantly redefining itself. Trends combined with new and emerging technologies impact the dynamics of banking almost on a daily basis. It is hard to keep up let alone stay informed.
Does your financial institution need a Chief Information Officer, but you don’t have the necessary financial resources? Was the CIO function given to someone too busy with other responsibilities to get the job done? Or, was the function assigned to someone who has the desire but needs more experience?