Remote Deposit Capture (RDC): Lessons Learned for Consumer & Business Users
RDC convenience creates opportunity, and opportunity demands control. This webinar will give community financial institutions practical guidance on how to identify RDC risks, onboard users with confidence, and monitor activity for safer consumer and business deposit relationships.
KEY WEBINAR TAKEAWAYS
- Regulatory requirements impacting RDC, including Reg CC and UDAAP
- Underwriting considerations for new RDC clients
- Mitigating RDC risks with strong internal controls and ongoing due diligence
BONUS MATERIALS
- Sample RDC site visit form
- Sample RDC risk assessment
WEBINAR DETAILS
In general, an institution’s remote deposit capture (RDC) program enables business clients to make check deposits without going to the institution by providing an electronic check conversion service. These accountholders are able to make deposits at their convenience via a PC and scanning device. RDC can also refer to mobile deposit services used by your consumer accountholders.
In this session we will break down the risks associated with each of these services and discuss best practices for mitigating those risks at your institution. We will discuss procedures for onboarding new users to the service, including conducting proper due diligence and establishing limits. Ongoing monitoring of the relationship as well as appropriate transaction monitoring will also be addressed.
