BROOKFIELD, Wis. – Fiserv said yesterday it has signed with Mitek Systems to market the company’s Mobile Deposit application that enables customers to deposit their personal or business checks using a cell phone camera.
Mobile Deposit supports the payments industry standards for Remote Deposit Capture , and extends mobile deposit capabilities to consumers who use cell phones equipped with a camera. The product will be available on the iPhone, and selected BlackBerry and Windows Mobile handsets.
When depositing a check, the consumer 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 check image and prepares it for transmission to the bank.
Before transmitting the check image, Mitek's IMagePROVE technology automatically corrects image distortions and skewing and confirms that it meets accepted Check 21 image quality standards. The process is similar to an ATM deposit or home deposit, for which banks already have policies and safeguards in place.
