Mitek Systems Joins the BlackBerry ISV Alliance Program to Develop ImageNet Mobile Deposit for BlackBerry ... PinStack's News & Events Coverage forum
Mitek Systems Joins the BlackBerry ISV Alliance Program
Mitek Systems Joins the BlackBerry ISV Alliance Program to Develop ImageNet Mobile Deposit for BlackBerry Bold Smartphone - Program Will Help Deliver Mobile Merchant Check Deposits to Millions of Mobile Professionals Who Use BlackBerry Platform
SAN DIEGO, Sept. 11 -- Mitek Systems, Inc. http://www.miteksystems.com/, an innovator of image analytics and pattern recognition software, today announced it has joined the BlackBerry Independent Software Vendor (ISV) Alliance Program. Through the program, Mitek Systems will integrate its ImageNet Mobile Deposit application for BlackBerry smartphones equipped with a two megapixel or higher camera including the BlackBerry Bold smartphone from Research In Motion. ImageNet Mobile Deposit is the first mobile banking software that allows banks to accept paper check deposits from merchants and mobile professionals via camera-equipped mobile phones.
According to the TowerGroup, merchant capture has grown exponentially over the past 24-36 months as the technology is eliminating trips to deposit checks, reducing deposit preparation time, improving cash flow with extended deadlines, and enabling consolidation of bank relationships.
Many small to medium sized business have been slower to adopt merchant capture because of the relatively high cost of entry which can include equipment, software and maintenance costs. ImageNet Mobile Deposit eliminates the high entry costs for small businesses who want merchant capture because the application is downloaded onto the BlackBerry smartphone, converting it into a mobile check reader. This allows small to medium sized businesses to use merchant capture virtually anywhere.
"Our research finds that merchant capture is a trend that continues to grow across many organizations worldwide," said Virginia Garcia, senior research director, TowerGroup. "Mobile remote deposit provides commercial banks competing for small to medium sized business accounts with an effective retention tool that helps facilitate cost savings and customer service."
"The BlackBerry Bold is a natural fit for ImageNet Mobile Deposit as millions of mobile professionals already rely on the BlackBerry platform as a primary means of conducting business on the road," said James DeBello, president and CEO, Mitek Systems. "ImageNet Mobile Deposit has achieved two major breakthroughs for small businesses by creating a cost effective way to facilitate merchant capture and making the entire process mobile, where most small businesses regularly conduct business.
Merchant Capture Using ImageNet Mobile Deposit
Using the application is simple. Users download ImageNet Mobile Deposit to their BlackBerry smartphone. To make a deposit, the user initiates a mobile banking session, keys in the deposit amount, and snaps a photo of the front and back of the check. The software captures the images and recognizes the data. Before transmitting data to the bank, ImageNet Mobile Deposit confirms the check images meet Check 21 accepted image quality standards. Once the bank's system receives the deposit, it sends the customer a confirmation text message.
About Mitek Systems, Inc.
Mitek Systems is an innovator of image analytics and pattern recognition technologies used by financial institutions, life science companies, and government agencies. The company develops and markets the most comprehensive suite of intelligent character recognition software used to test, clean, read and authenticate imaged documents and objects, and its software is used to process more than nine billion transactions per year. For more information about Mitek Systems, contact the company at 858-503-7810 or visit http://www.miteksystems.com/
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