Innovative image technology company Mitek Systems Inc. today announced it will exhibit the capabilities of its ImageNet Mobile Deposit in collaboration with the mFoundry mobile banking application on an iPhone at BAI TransPay.
The ImageNet Mobile Deposit allows bank customers to deposit checks from their camera-equipped mobile phone, directly into their banking accounts. This offers the ultimate level of convenience for bank customers, as well as easy access to their funds. The mFoundry mobile banking platform allows for quick account information such as transfers, bill payments and branch or ATM locations, all from the customer's mobile phone.
“Offering ImageNet Mobile Deposit with mFoundry’s mobile banking application demonstrates the power and convenience of the next generation of mobile banking and payments,” James DeBello, president and CEO of Mitek stated in the press release. It provides another compelling reason for customers to adopt mobile banking as their preferred way to interact with their financial institution.”
The technology works like this: logging into a mobile banking application session through mFoundry, the user keys in the amount of the desired deposit, and uses their camera phone to take a picture of the front and back of the check. The images are conformed to the appropriate Check 12 standards, and are then transmitted through the phone to the bank. Mitek's intelligent character recognition software tests, cleans, reads and authenticates imaged documents, ensuring a quick and easy transfer.
Mitek currently processes more than 9 billion transactions each year for life science companies, financial institutions, government agencies and more. The company will showcase its technology at the San Diego Convention Center, Booth #328, February 23-25, 2009.