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Are Your Commercial Accounts Exposing You to Risks?

Risk is a bad four letter word in the world of remote deposit capture (RDC). It is the elephant sitting with its legs on the board room table during meetings. Entire departments are dedicated to the management of risk, and RDC vendors have a myriad of complementary offerings to help mitigate it.

However, the entire industry still only has one gate for reviewing possible risk: single risk threshold per merchant account. A simple dollar and check volume value that allows institutions to make one of two decisions. They can either review or reject the transaction, so product managers and treasury executives must decide whether to give everyone different thresholds or group them by internal risk categories they have defined. Once they have decided on a threshold limit for that merchant, they must then decide if they will review the transactions or reject them. This is a delicate dance within all financial institutions running RDC. How do they decide limits for their commercial accounts that allow the account holder to deposit the work they need to process without opening the institution to harmful risk? With a single limit system, inevitably this leads to an evaluation period where the merchant must deposit at a lower limit until the institution feels the merchant is of a low enough risk to give them a higher deposit or item threshold. At VSoft, we ask, why can’t you have both? Why can’t you have a high dollar limit for a high-value commercial clients, without compromising risk to your financial institution?

That is why our OnView Business Deposit solution allows institutions to set two risk thresholds. A low and a high dollar limit. This removes the need for the binary decision of whether to review of reject an item or deposit when it reaches a threshold, you can do both. Now institutions can give that large commercial customer a high dollar limit of 50K to reject an item/deposit, while giving the financial institution the ability to review all items at a lower value, say 10K. OnView Business Deposit lets you have independent decision making concerning risk and the ability to honor your merchants’ request for a high dollar deposit limit.

Click here to read about VSoft’s OnView Business Deposit.

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