However, I still wonder how long will these trends last. If people are issuing less and less checks, how long will RDC applications remain popular?
One key point to remember - even if checks die completely in the future, RDC would have played an important role – help promote the adoption of mobile banking by consumers and move closer towards “mobile branches” (bank branches in smartphones). We are already seeing this impact in action in the introduction of a new application for paying bills using smartphones by taking a picture of the bill. Mitek’s CEO points out in this interview, the adoption of RDC has helped establish the message that a smartphone camera can be used for financial transactions and that the adoption of subsequent mobility apps for financial transactions may involve shorter cycles.