Welcome!

Containers Expo Blog Authors: Zakia Bouachraoui, Yeshim Deniz, Liz McMillan, Pat Romanski, Elizabeth White

News Feed Item

Mitek Systems Announces Mobile Deposit® 3.0

New version gives banks and consumers improved user experience, now runs on Windows Server 2008 R2

CHICAGO, Oct. 11, 2011 /PRNewswire/ -- Mitek Systems, Inc. (NASDAQ: MITK; www.miteksystems.com), the leader in mobile-imaging solutions, today announced version 3.0 of its award-winning Mobile Deposit® product that enables mobile-banking customers to make deposits simply by taking pictures of checks with their smartphone cameras.

(Logo: http://photos.prnewswire.com/prnh/20100224/MITEKLOGO)

The new version improves the user experience and performance of Mitek's industry leading mobile Remote Deposit Capture (RDC) product, which now runs on Windows Server 2008 R2, the preferred operating system of many financial institutions. Mitek announced the improvements in its flagship mobile-check-deposit application at the BAI Retail Delivery Conference & Expo 2011 being held here.

Six of the top 10 retail banks in the United States and more than 80 financial institutions are using Mobile Deposit as their mobile RDC application of choice and a cornerstone of their mobile strategies.

"The first month that we launched Mobile Deposit, we saw new enrollments for consumer capture increase four times," said Mike Kroft, VP of E-Banking at Mercantile Bank of Michigan in Grand Rapids, Mich. "It has been an extremely effective tool in helping us grow our retail customer base, so we are pleased to see Mitek continue to evolve the product."

A new market research paper entitled "Mobile Remote Deposit Capture: Changing how consumers bank and banks compete" by AlixPartners LLP, the global business-advisory firm, found that mobile RDC is a powerful, must-have capability for banks in acquiring new mobile-banking customers and keeping existing ones. Banks that fail to implement a mobile-banking strategy with mobile RDC as an essential capability risk losing market share, the report found.

"In today's marketplace, where basic mobile banking functionality is quickly becoming table stakes, Mobile RDC capabilities represent an opportunity for banks to increase relevancy with their customers, enhance engagement and communication, and stay at the leading edge of the mobile app game. Mobile RDC delivers that unique combination of real consumer utility and marketplace sizzle," the AlixPartners report stated.

It added that benefits of mobile RDC to banks include attracting customers with higher balances and assets; enhancing acquisition while reducing attrition, and providing compelling economics to reduce operating costs.

"Mobile RDC could prove to be one of the most important retail-banking innovations of this decade and will be a key factor in determining the winners and losers in retail banking," said the report's co-author, Bob Hedges, managing director at AlixPartners and co-lead of the firm's Financial Services Practices.

The new features of Mobile Deposit 3.0 give both financial institutions and their customers improved user experience and performance. In addition to now running on Windows Server 2008 R2, Mobile Deposit 3.0 now supports even more check formats with unique MICRs.

The new version also enhances the user experience with the ability to detect and support both regular and -- now -- stamped endorsements, with real-time feedback to the user if an endorsement is missing.

Mobile Deposit won the Mobile Pace Setter citation at last year's BAI conference in Las Vegas as part of BAI's first-ever MobileLink Award for mobile accomplishments in retail banking.

The release of Mobile Deposit 3.0 comes on the heels of another major new product - the MitekONE: Enterprise Deposit Platform, which is designed to give FIs and their technology solutions partners greatly improved efficiencies in check imaging and processing.

About Mitek Systems
Mitek Systems (NASDAQ: MITK) is the leader in mobile-imaging solutions, achieved through 25 years of R & D, patented technology and extensive experience in extractive imaging. The company invented and patented leading software solutions that allow consumers to use the cameras on their smartphones and tablets to deposit checks, pay bills, get quotes and transfer balances ... all by just snapping photos of documents. Offering outstanding customer experience and convenience while driving operational efficiencies, Mitek Systems' solutions enable organizations across industries to differentiate themselves from their competitors, attract and retain customers and ultimately increase their revenue and profitability. Current products include Mobile Deposit®, Mobile Photo Bill Pay(TM), Mobile Balance Transfer(TM), Mobile ACH Enrollments(TM), Mobile Receipt(TM) and the Mobile Imaging Cloud(TM) platform.

For more information about Mitek Systems, contact the company at 858-503-7810 or visit www.miteksystems.com.

Contact:
Sue Huss for Mitek Systems
[email protected]
619-379-4396
Skype = sue.huss

SOURCE Mitek Systems, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
Every organization is facing their own Digital Transformation as they attempt to stay ahead of the competition, or worse, just keep up. Each new opportunity, whether embracing machine learning, IoT, or a cloud migration, seems to bring new development, deployment, and management models. The results are more diverse and federated computing models than any time in our history.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...