RDC Risk Management
There’s been a lot of talk on AFP discussion lists about remote deposit capture risk management. With that in mind, the next issue of AFP’s Risk newsletter delves into the topic. In the meantime, Bob Meara, a senior analyst with Celent who authored a report on RDC risk best practices, offers some advice for corporate practitioners:
o Establish a deposit review process if dollar amounts warrant. Most solutions allow separate scan and review/submit user entitlements.
o Use reporting, particularly available reporting that invites review of items that have been corrected.
o Safeguard original items until destruction.
o Use RDC to reduce the number of required DDAs and bank relationships, if applicable.
o Consider use of remote cash capture alongside RDC for businesses that receive meaningful cash to achieve the reduction in bank relationships, reconciliation costs and cash transportation charges.
