SAN DIEGO Mitek Systems, pioneers in mobile banking, rolled out a Mobile Photo Account Opening product this morning.
Mitek’s Mobile Photo Account Opening enables credit unions and banks to increase completion rates for opening and funding new accounts by reducing the friction in the enrollment process for checking, savings, credit card, and other transactions with mobile imaging. The new solution will be available for mobile self-service and for employee-assisted service in the branch and in the community.
Consumers and employees can now simply capture a picture of the front and the back of driver's license and the validated data is automatically populated into the account opening application. Mobile Photo Account Opening seamlessly integrates with credit unions’ and banks’ existing account origination, identity proofing, and fraud prevention providers like Experian so it facilitates existing processes.
"We believe Mobile Photo Account Opening will have a profound impact on net profits by enabling acquisition of the sought after digital natives and mobile first consumers while moving them to a lower cost self-service channel," said Mitek President James DeBello. "It is also a great tool for getting employees out from behind a desk and streamlining account opening in the branch and in the community on a tablet, making account opening a faster, more friendly and engaging process."
