SAN DIEGO – Mitek Systems last week said it signed with NetDeposit to provide mobile deposit capabilities to its financial institution customers.
Under the agreement, NetDeposit will integrate the capabilities of Mitek's Mobile Deposit application into its NetCapture suite of remote deposit capture solutions. As a result, the companies said, NetDeposit's financial institution clients will be able to provide their business and consumer customers with the ability to deposit checks using smartphones.
To deposit a check, users will launch the NetCapture application on their phones. They then will key in the deposit amount and snap a photo of both the front and back of the check with their camera phone. The software captures the check image and prepares it for transmission to the financial institution. The user then transmits the deposit from their phone to the financial institution where it is received and processed for deposit. NetCapture's capture, back end receiving and processing solution, combined with Mitek's Mobile Deposit technology will extend mobile capture and deposit capabilities to millions of consumers who use camera-equipped smartphones.
NetDeposit is a unit of Zions Bank.
