Finovate - Conferences Showcasing the Future of Financial & Banking Technology
FinovateFallFinovateEuropeFinovateSpring
Check out FinDEVr

Blog

TopicsTopics   TopicsArchives  

Mitek's Mobile Balance Transfer Helps Banks Acquire Credit Card Customers

Mitek_SystemsLogo.jpg
Next up this morning, Mitek Systems showed off its Balance Transfer mechanism that allows banks to interact with customers in real time:

"Mobile Balance Transfer is new, easy, attractive and cost-effective way for a bank to acquire new credit card customers. The mobile application enables a bank's customer to use a smartphone camera to take a picture of a competitor's credit card payment coupon. The customer transmits the information to the bank, which then can offer the customer a better interest rate to incent the customer to open a new credit card account and transfer an existing balance. 

For banks, Mobile Balance Transfer broadens the reach of traditional balance-transfer-marketing programs, enabling the bank to interact with the customer in real time. By accepting the bank's offer, the consumer simply transfers his or her outstanding credit card balance to a new credit card account offering a more attractive rate. Consumers gain reduced costs on their credit card accounts and the banks offering Mobile Balance Transfer gain new credit card customers more cost-effectively than previous balance-transfer methods. Mobile Balance Transfer is the latest in a rapidly growing family of mobile-banking applications for banks, credit unions, brokerages and payment-management providers that are all rooted in Mitek's patented mobile image-capture and data-extraction capabilities."

HQ Location: San Diego, CA 
Company Founded: 1986 

Presenting Drew Hyatt (SVP Business Dev. & Sales, Mitek Systems) & Diane Morgan (Director, Mobile Photo Bill Pay, Mitek Systems)

IMG_0847.JPG
IMG_0848.JPG

Watch Demos

Click above for video archives of all demos.

 

Twitter


See all Finovate tweets