Image analytics and pattern recognition software firm Mitek Systems is all geared up to take mobile banking to the next level with its ImageNet Mobile Deposit – the first mobile phone banking software that extends mobile payments and paper check deposit capabilities to millions of customers who use camera phones.
These new financial services complement the existing mobile banking features such as balance inquiry, fund transfers and electronic bills payments. More importantly, it adds value for many banking customers who lack the time to pay their bills and deposit money.
Compatible with any mobile devices equipped with 2 megapixel camera or higher and Windows Mobile or Symbian OS, this application is very easy to use. Here's the basic guide:
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 and extracts the check's Courtesy Amount and Legal Amount (CAR/LAR). 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.
The same process works with payment of paper bills. While the idea is brilliant, will the general public embrace this technology? I'm sure security issues will also be the utmost concern.
For more technical details visit ImageNet Mobile Deposit.
August 18th, 2008 at 8:09 am
ACI is pleased to announce its first annual Mobile Commerce Conference this September 17th-18th, 2008 in San Jose California. This two day event will bring together key stakeholders from all the different industries involved in mobile commerce ecosystem. At this conference your organization will learn how to adopt strategies which will drive profit through the channels of mobile self-service, banking, payment, and mobile marketing. Our marquee speaker Richard Crone, CEO and Founder of Crone Consulting, LLC, has over thirty years experience in the area and his keynote speech, “Riding the Three Waves of Mobile Commerce: Mobile Self-Service, Wireless Payments and 2-Way Mobile Marketing” will highlight this area. His speech will provide attendees with the fundamentals to incorporate these strategies within their organization. This two-day strategic business forum will focus on the opportunities and benefits to driving revenue through mobile commerce. Learn what the competition is doing and gain valuable insight about mobile self service. With the global mobile commerce industry projected to bring in $88 billion dollars in revenue by 2009, this is a conference you cannot afford to miss!
Please don’t hesitate to call or email me for further information or with any questions you may have.
-Leslie Christopherson
312-780-0700 ext. 211
LChristopherson@acius.net
August 24th, 2008 at 10:04 am
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April 29th, 2009 at 1:09 pm
Not a bad way to do your banking for those without Direct Deposit, assuming youre okay with sending your bank account information through the airwaves