Branch and teller capture image growth is exceeding 60 percent a year, and there’s still plenty of room for growth, according to a research report from Aite Group.
Of more than 16,000 banks and credit unions, there are 6,900 banks—or 42 percent—with live deployments of either service, covering 62,000 branches and 140,000 seat licenses. The Boston-area research firm views that as remarkable progress, given the industry’s slowing branch growth (about two percent a year).
Most of the new branch and teller capture installations are at community banks and credit unions with less than $1 billion in assets, comprising 72 percent of deployments in 2008 alone. By 2010, Aite projects that 71 percent of institutions will have branch or teller image capture software deployed, covering 67 percent of total U.S. bank branches.
The predominant choice is the back-office branch-capture solutions. Despite professing needs to free up staff for cross-selling and reducing over-the-counter costs, only 11 percent of institutions use teller/front-office solutions, where paper checks, deposit slips and other cash-in tickets are converted on the spot.