SAN DIEGO – Mitek Systems last week 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.
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.
