Mobile remote deposit capture of checks is taking off, and Digital Transactions reports that Mitek Systems Inc.'s deal with Fiserv Inc. will likely spur more mobile-deposit growth. Mitek's software allows users to take pictures of their checks with the cameras on their smart phones and then e-mail or text those check images to the bank for deposit. Two weeks ago, Mitek signed a six-month deal with Fiserv, its biggest processor to date, Digital Transactions reports. Mitek now has four clients using its mobile-deposit software. In addition to Fiserv, J&B Software, NCR Corp. and RDM Corp. have signed with Mitek.
Last week, USAA, a privately held bank and insurance copmany, announced that it would be offering remote deposit capture to its customers.
Milwaukee-based Fiserv is expected to offer the mobile-deposit application to the more than 1,100 U.S. financial institutions that use Fiserv for remote deposit capture. Mitek's software scans the check image for quality and corrects distortions and then sends a message to the user if poor lighting, blurriness or other quality issues make a retake necessary.
Businesses on the go, such as home-appliance repair businesses and food-and-beverage operators with trucks, are likely to benefit from the technology more than consumers, says Rod Springhetti, vice president of business strategy and development at Fiserv:
 | Nearly all respondents indicated that businesses within these segments would be willing to pay for mobile deposit capture services. … We continue to be focused on market research that helps us understand how the application of this technology solves real problems and how to help banks take advantage of that. |  |
