Bio:
Dan Fisher is president and CEO of The Copper River Group. A consulting firm headquartered in Fargo North Dakota that focuses on technology and payment systems research and consulting for community financial institutions. For nearly thirty years, Dan Fisher has worked in the financial industry using technology to improve the bottom line. He has served as: a director of the Federal Reserve Board of Minneapolis, the chairman of the American Bankers Association Payment Systems Committee, a member of the Independent Community Bankers of America Payments Committee.
Dan has written numerous articles on banking technology and the payments system. These articles have appeared in ABA Banking Journal, Bank Technology News, Independent Banker Magazine and the Northwest Financial Review, just to name a few. He has also authored or co-authored six books and recently published a book titled, Capturing Your Customer! The New Technology of Remote Deposit.
Areas of Expertise:
Information Technology
Payment Systems
Remote Deposit Capture
Questions Answered
10/07/2013
How long must a federally insured small bank retain its documents and emails? I have run into a situation where I am being told that a bank uses a back-up system that overwrites its backups every three weeks or so.
I have tried to find some regulation/statute that addresses the data retention by a bank of its own records - not its depositors', vendors', etc. - I can't find it. I know that this can't be the case; I must somehow be looking in the wrong way/places. For example: It is my understanding that an institution such as a bank would have to issue a "litigation hold letter" on all data when it has reason to know that litigation is likely. How can there be any data to retain if it's always being overwritten?
Any insight on my confusion or suggestion as to where I can find a resource that would help on this would be greatly appreciated . . . .
08/22/2011
What is hot? It is more than the weather in the country. Mobile Capture seems to be on everyone's mind. Be it Commercial Capture for mobile businesses or consumer capture for the digital native and their on-the-go smart phone world. As a financial institution, do you have a virtual strategy or are you making your technology decisions without a plan or roadmap? Are you making your technology decisions one at a time and then looking back and wondering why things don't integrate or even work they way you expected them to work?
12/26/2008
How do you recommend that a Remote Deposit Capture customer secure its scanner? Is the scanner itself a security risk?
12/17/2008
How long should a remote deposit capture customer keep the original checks?
12/08/2008
In mitigating the risk of an item being presented electronically, and as an original item, is check franking a plausible risk mitigation process? Such as having the scanner print on the back of the check: VOID THIS ITEM HAS BEEN SUBMITTED ELECTRONICALLY.
11/26/2008
What are the risks to financial institutions if the merchant doesn't obtain proper endorsement or follow appropriate endorsement standards?
11/17/2008
How quickly do we need to give customers access to funds represented by remote deposit capture items. In other words, does Reg CC apply to consumer remote deposit capture items?
11/07/2008
We are trying to assess the risk posed by offering remote deposit capture. Can you point us to any regulatory issuances that might be helpful? What is the associated risk with offering remote deposit capture in a US Territory…for instance the US Virgin Islands?
