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What benefits have been delivered in practice by remote deposit and how do you maximise them?

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  • Oberg, Kristine

Abstract

Remote deposit (also known as remote capture) is a key recent product innovation in treasury management. Remote deposit allows businesses and government entities to replace their physical bank deposit with an electronic transmission of cheque images and data. Using a desktop cheque scanner and a PC, organisations can scan cheques, optionally capture additional payment-related data, balance deposits and submit them for processing with a simple computer instruction. This paper explores the key benefits of remote deposit. It examines how well these benefits apply to various organisations and how they have been delivered upon thus far in the industry. It also provides best-practice guidance on applying and quantifying remote deposit benefits. Readers who are considering a remote deposit programme will be able to anticipate business process impacts, understand the rules and law surrounding the process and identify the key elements for a remote deposit deployment plan.

Suggested Citation

  • Oberg, Kristine, 2007. "What benefits have been delivered in practice by remote deposit and how do you maximise them?," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 1(4), pages 342-353, July.
    • Handle: RePEc:aza:jpss00:y:2007:v:1:i:4:p:342-353
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    More about this item

    Keywords

    Remote deposit; remote capture; electronic deposit; Check 21; cheque conversion; Back Office Conversion;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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