In recent years, the Check 21 Act has forced many banks to change the way they do business with certain customers by offering of Remote Deposit Capture services (RDC). Remote Deposit Capture (RDC) enables banks to receive check deposits electronically from remote locations including the bank’s branches, ATMs, correspondent banks and customer locations.
With the introduction of this new technology and new way of doing business with banks, the FFIEC has issued specific guidelines and requirements over the use and management of RDC processes, technology and systems. These guidelines specifically call for a strong risk management program including a comprehensive risk assessment and enhanced operational, legal and compliance procedures across the organization.
How can we help? We provide a comprehensive RDC compliance solution to ensure you meet the FFIEC regulatory guidelines. Beyond compliance, there are many inherent operational risks which need to be understood when employing RDC technology. Our solution is customized to meet the growing operational risks and regulatory RDC requirements by evaluating the following areas:
- RDC Risk Management Plan
- RDC Operations
- Information Security - Access and Data Protection
- Vendor Management Program
- RDC Policies and Procedures
- RDC Customer Suitability and Screening
At Control Solutions International, we employ highly skilled RDC control experts who assist organizations in a variety of capacities by:
- Executing a Risk Assessment
- Assessing the IT environment to include capacity issues
- Evaluating vendor due diligence processes
- Assisting with the implementation of RDC systems and processes
- Developing or strengthening your existing policies and procedures
- Performing an Internal Audit of RDC services
- Ensuring compliance with the FFIEC regulatory requirements
- Working closely with management to identify process improvement opportunities
Are you ready? Does your organization fully understand the risks associated with RDC and have those risks been properly assessed and addressed in accordance with regulatory expectations?
Contact our Remote Deposit Capture control experts to learn how we can assist you.