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CheckFree Corp. rolls out CRDC technology

2008-02-11 18:46:24 (GMT) (Caymanmama.com - Banks & Banking Technology News)

Milwaukee, Wisconsin (A P): CheckFree Corp., a service provider of online banking, has rolled out a technology which means that consumers can deposit checks into their bank branches without a need to go to the bank. The technology of (CRDC) Called Remote Deposit Capture has been about for a long time which allows the users to scan their checks through their PC and can electronically deposit them. But mainly, it has been used for business purposes only. According to CheckFree’s Vice-President, Rod Springhetti, customers want the facility of depositing checks without the need to go to the bank, and banks want the ability to offer them that facility.

“I think the ability to remotely capture a check will become a part of the standard features and functions of online banking,” said Springhetti. CheckFree says that the service will be made available at the starting of this week for the consumers who are involved in online banking, so long as the banks offer the service. Brookfield based Fiserv Inc. had recently acquired CheckFree for nearly $4.4 billion, and has been lately in discussions with small and large institutions, though, no one has used this technology, said Springhetti.
A senior analyst from Celent, a research firm, Bob Meara said that lots of minor competitors are likely to follow the lead of CheckFree, but it is still unclear that what number of banks may adopt it and how the users will react to it. He said “Eventually, it will be a staple element in banks online and the mobile banking platform. That doesn’t mean every consumer is going to pay attention to it.”



NewsReporter · Filed Under Banks & Banking, Technology 

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