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World Remote deposit capture Market - Opportunities and Forecasts, 2017 - 2023

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    Report

  • September 2019
  • Region: Global
  • Allied Market Research
  • ID: 3773692
Remote Deposit Capture, also known as Corporate Capture, Merchant Capture, Image Deposits, etc., is a non-physical check deposit service provided by banks. This technology is at its developing phase. The process of remote deposit includes issuing of check by a bank, scanning of the check, and transmission of the scanned image/ACH-data to the bank. The bank considers the scanned data as physical check and credits the amount in the beneficiary’s account. A Legislation (Check 21 Act) was passed in U.S.A. in October 2003, regarding use of this procedure and was implemented in October 2004. Busy schedule, time constraints for businessmen and rising trend of online transactions are primary factors driving the market. On the other hand, possibility of breach in security due to non-transfer of actual physical check might restrain the market growth.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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