August 14 - Creative Payment Solutions, a subsidiary of BB&T Corporation, has launched a new remote deposit capture (RDC) risk self-assessment product. RDC Risk Self-Assessment is designed to help financial institutions minimize RDC risks and the costs associated with regulatory risk management.
"The Federal Financial Institutions Examination Council (FFIEC) recommends all financial institutions offering RDC to complete periodic risk assessments," said Brian McCollum, sales and product development manager for Creative Payment Solutions. "RDC Risk Self-Assessment provides financial institutions with an easy and cost effective means of completing the assessments, tracking results and ensuring compliance with FFIEC guidelines."
RDC Risk Self-Assessment allows financial institutions to quickly and easily schedule survey campaigns with their RDC customers, reducing the need for costly in-person visits. Customers are prompted online to complete a brief self-assessment consisting of questions selected by and branded for the financial institution.
Assessment categories cover such topics as protecting confidential information, check storage and destruction, and separation of duties. Recommended corrective action is displayed when necessary to reinforce appropriate RDC procedures. Financial institutions also receive online reports of each customer's assessment, and consolidated reports can be provided to auditors and regulators.
For more information about RDC Risk Self-Assessment from Creative Payment Solutions, visit www.creativepaymentsolutions.com or call 800-508-0277.
About Creative Payment Solutions
Creative Payment Solutions (CPS), a subsidiary of BB&T Corporation, is an application service provider specializing in innovative payment and receivables processing solutions. The company's products are designed to reduce accounts receivables operating expenses and improve cash flow for financial institutions and their business customers, as well as merchants of all sizes. CPS also offers technical support services including on-site and remote installations, full product training and sales support services.
BB&T Corporation (NYSE: BBT) is one of the largest financial services holding companies in the U.S. with $178.5 billion in assets and market capitalization of $21.6 billion, as of June 30, 2012. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com.