Mitek Systems Inc. on Aug. 18 announced it has received a patent from the United States Patent and Trademark Office for its mobile remote-deposit capture application.
The patent covers several aspects of the mobile technology, including the software's ability to capture a color image of a check using a mobile device's camera and to transmit the image to a financial institution's servers for settlement.
The patent was the seventh granted to Mitek, with five more applications pending.
The patents help solidify Mitek as the leader in developing mobile remote-deposit capture software, says Drew Hyatt, an adviser to the company's CEO and president James DeBello.
"The patent covers a number of claims, the most important being the ability for a consumer to deposit a check with a mobile device and that's clearly very important because we were first to develop this technology," Hyatt says.
Mitek welcomes competition in the space as it helps "make the company look better," Hyatt says.
"But we always encourage people to test our technology alongside others," he adds.
Mitek continues to work on improving its technology, Hyatt says. The company claims that check images captured via its application are accepted successfully 95% of the time on the first try.
"We won't stop until we get 100%," Hyatt says.