Finding Money In Convenience
By: David Malone, CEO and President, Community Bank
It goes without saying that technology continues to make tremendous strides in nearly every aspect of our professional and personal lives, and one of those strides is without a doubt a higher level of convenience.
Banks – hardly synonymous with convenience to the general public – are now starting to
implement their own piece of new technology that is, yes, convenient, but also a huge time and money saver: Remote Deposit Capture.
Remote Deposit Capture allows businesses to deposit checks electronically
from the comfort of their own desk – 24 hours a day, seven days a week. All the technology needs to function is a desktop scanner that connects to a PC computer and the Internet.
For many, being able to avoid taking time out of a busy work day – or even a day of complete relaxation – to go wait in line at a bank is reason enough to implement Remote Deposit Capture in their business. And while added convenience is indeed a benefit of Remote Deposit Capture, its keynote features are its financial and security benefits.
This technology can save your company money in two capacities. Many businesses hire courier services to deliver checks to banks, which bring along costly fees. But even simply sending staff to the bank takes up time that they could be spending on more significant internal tasks. The Remote Deposit Capture eradicates both of these scenarios.
Multiple levels of security
In order to match the security of physically handing your check to a bank teller, Remote Deposit Capture has multiple levels of security built into the system, including password protection, Internet firewalls and 128-bit encryption – the highest level of security commercially available.
This new technology also alerts you quicker to any bounced checks, or checks that are
returned. Remote Deposit Capture allows checks to be cleared faster, increasing your chances for action and collection before your company becomes involved in a potentially unfortunate situation.
Community Bank has implemented Remote Deposit Capture throughout our branches, and
the response has been overwhelmingly positive. As with all new technology, there was some hesitation with a few of our clients. We proposed to one client in particular who had worked with a courier service for years that he try out the new technology for one week, free of charge. He canceled his beloved courier service before the trial week was complete.
Much like the omnipresent ATM, Remote Deposit Capture is now working to bring speed and
convenience to banking, but it also saves you money and time. And in todayʼs market when it seems everyone is short on both, this is the kind of convenience to embrace.
David Malone is CEO and President of Community Bank, based in Pasadena with 14 branches
in Los Angeles, San Bernardino and Orange Counties. For more information, please phone
877-922-2653 or visit the website at www.cbank.com.