SAN DIEGO (10/1/12)--More than 150 credit unions have signed agreements with Mitek System's Mobile Deposit technology to offer their members the ability to deposit checks using their camera-enabled smartphone or tablets. Mitek has experienced an increase in credit union market penetration by more than 165% year-over-year.
Mitek has been issued 12 U.S. and Canadian patents, with another 12 patents pending, that cover the processes for depositing a check, processing the image, and creating a Check 21-compliant image, whether the processes are carried out on the phone, the server, or a combination of both.
"Credit unions around the country are meeting the needs of their members who want a fast, easy and fun mobile banking experience," said James DeBello, Mitek president/CEO. "Our credit union customers tell us that mobile deposit is a cornerstone of their mobile banking strategies, and a powerful tool to drive new member acquisition and keep member satisfaction high.