New App Uses Mobile Phones To Capture Checks

Published February 04, 2008, 1:00 a.m. EST

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Updated August 27, 2020, 1:25 a.m. EDT

1 Min Read

SAN DIEGO - Mitek Systems said it has introduced the first mobile banking software that will capture paper checks and other images over cell phone cameras for use by credit unions and banks.

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The software, known as ImageNet Mobile Deposit, is the next step in mobile banking, which allows customers to transfer funds, view account balances, pay bills and make transactions using their cell phones and PDAs.

The Mitek software will allow consumers to make deposits using their cell phones. Their credit union or bank will send a receipt as a text message.

The system uses three layers of security, including multi-factor authentication, as well as encryption of locally stored data, such as a check image. It also uses a Secured Sockets Layer, a security protocol developed by Netscape to validate the identity of a website. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

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