RDC Policies Advisory Service

Remote Deposit Capture (RDC) services, particularly mobile deposit, are increasingly popular among business and consumer account holders. These services, however, pose unique risks that must be properly managed. One significant key to an effective RDC risk and compliance program is a comprehensive set of policies that address the critical aspects of your organization’s RDC business, such as whether you offer RDC services to corporates, consumers, or use them solely for internal purposes. WesPay Advisors' RDC Policies Advisory Service will equip you with customized policies that can be approved by your Board and provided to regulators and auditors as evidence of your organization's strategy and controls for mitigating the inherent risks of your RDC program.

Whether your organization is considering developing an RDC program or already has one in place, WesPayAdvisors' RDC Policies Advisory Service can assist in ensuring that your RDC program includes the identification of key risks, and their corresponding industry sound-practice controls, to reduce your RDC program’s residual risk.

Benefits of Using This Service

  • Customized solution to review your current RDC policies
  • Check your policies against WesPay Advisors'  inventory of electronic payment regulations and industry sound practices
  • Ensure that policies address critical aspects of RDC, such as whether you offer RDC services to corporates, consumers, or use them solely for internal purposes
  • Feel confident knowing WesPay Advisors has the expertise to recognize potential gaps and strengthen existing policy language
  • Ensure your RDC program includes the identification of key risks and their corresponding industry sound-practice controls
  • Customized policies that can be:
    • approved by your board
    • provided to regulators and auditors as evidence of your strategy and risk mitigation

This Service Includes:

  • Initial survey to catalogue your RDC policies
  • Analysis by WesPay Advisors NCP-accredited staff against current regulations, guidance, and industry sound practices to:
    • Identify potential gaps
    • Advise on content and key verbiage of your existing policies
  • Conversation with WesPay Advisors staff to discuss the results and your next steps in utilizing the results

Pricing

The cost of this service depends on your financial institution’s deposit assets. The service is designed to be conducted remotely. Clients may also request on-site completion for an additional fee. Contact us for a price quote and to schedule a consultation.​