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One of the largest technological developments that impacts check is remotedepositcapture. One of the issues with this approach [to RDC] is that there is no way at the point of presentment to engage some of the sophisticated riskmitigation tools that are available across those different channels,” Ballagh said.
740 million went unclaimed by SMEs simply because they forgot to cash a check last year , meaning mobile remotedepositcapture (mRDC) technology providers have a major opportunity to push their solutions into the SME market.
Collaborating with FinTechs means banks can provide this technology to business customers while also obtaining benefits like riskmitigation functionality offered by the third-party FinTech. LiquidX CEO Jim Toffey noted in a statement that corporate banks have been seeking such technology to offer to their corporates.
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