Mitek Systems today announced it has received a U.S. patent for technology that makes check deposits possible with just a camera smartphone.
Titled most scientifically as the “Mobile Deposit mobile Remote Deposit Capture (RDC) application,” the technology lets a user snap a photo of the check, using a mobile phone, and then transmit all the deposit information via a secure network. Mitek, which specializes in advanced-image analytics and mobile document capture applications for phones, claims that deposits using its mobile technology are successful on the first try 95 percent of the time.
Mitek’s newly-patented technology builds on what consumers are already used to doing. Certain banks allow people to deposit their checks by scanning them a computer image scanner, and then transmitting the scan to the bank, and Mitek CEO James DeBello says camera phones are themselves portable scanners. He also says that the Mobile Deposit app helps banks entice customers, appealing to the “millions of people who have embraced smartphones and the apps that make them so useful.”
Meanwhile, financial institutions are already engaging in mobile banking services for consumers, and tying them in seamlessly with mobile marketing endeavors (mobile websites, SMS alerts and campaigns, etc.) The Mobile Deposit application is set to make a consumer really feel like one’s bank is right in one’s pocket.
