Finovate Demo Video Archives

Presenter Profile:

How they describe themselves: Mitek Systems is the award-winning innovator of the Mobile Deposit® and Mobile Photo Bill Pay™ applications for smartphones that allow users to deposit checks and pay bills via their devices’ cameras. Mobile Deposit is the leading mobile remote deposit capture product for the financial services industry. It’s accurate, secure, easy to use and complies with all banking industry regulations. Users of Mitek apps simply use their iPhone, BlackBerry or Google Android smartphones to 1) initiate mobile-banking sessions with their FIs, 2) align their checks or bills within their devices’ camera-image frames and 3) snap photos. The apps do the rest in enabling check deposits or bill payments in the RDC format that banks and credit unions require.

How they describe their product/innovation: Mobile Balance Transfer is a 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.

Contacts:

Bus. Dev.: Drew Hyatt, SVP Sales & Business Development, dhyatt@miteksystems.com,
858-503-7810 x356
Media: Sue Huss, sue.huss@comunicano.com, 619-379-4396
Sales: Jack Dollard, Marketing & Sales Associate, jdollard@miteksystems.com, 858-503-7810×325
Investors: Bud Leedom, Finance Director, 858-503-7810 x309