Mobile Remote Deposit Capture: Where’s the Fraud?

Report Summary

Mobile Remote Deposit Capture: Where’s the Fraud?

Bank operations, marketing, and fraud departments should collectively balance MRDC’s security and customer access.

Boston, March 12, 2015 – Remote deposit capture was first launched to support large corporate customers that regularly deposit thousands of checks. In recent years, many banks and credit unions have extended mobile RDC to their consumer clients, allowing checks to be imaged and sent to the financial institution for deposit via a mobile device. Allowing remote consumer deposits regardless of whether the bank is open for business is a convenient service, but are there risks? And what about fraud?

This report, based on interviews with U.S. financial institutions and RDC solution providers, documents the RDC and MRDC fraud experienced and the fraud controls in place throughout the process. It explores the current market environment and describes how collaboration is key to effectively controlling the associated fraud risk. It also profiles technology vendors A2iA, BAE Systems, Digital Check Corporation, Early Warning, ​FIS, Fiserv, Fundtech, Jack Henry, Kofax, Mitek, NCR Corporation, Nice Actimize, SAS, and TransCentra.

This 19-page Impact Note contains seven tables. Clients of Aite Group’s Fraud & AML services can download this report.

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