Mitek and Fiserv Sign Agreement on Mobile Deposit App

Mitek Systems (San Diego), an image analytics and mobile document capture applications company, entered into an OEM agreement with Brookfield, Wis.-based Fiserv for Mitek's Mobile Deposit solution, an application that enables customers to deposit their personal business checks using a cell phone camera.

Mobile Deposit is based on industry remote deposit capture standards and is available on iPhones and select BlackBerry and Windows Mobile handsets.

To use the application, banks' customers initiate a mobile banking session, snap a picture of the front and back of the check, and the image is prepared for transmission to the bank. Mitek's IMagePROVE technology corrects any distortions and skewing before transmitting it. Teri Carstensen, president Fiserv item processing and payment solutions division, noted in a release, "With consumers and businesses today capturing deposits from multiple sources, Fiserv's goal is to create a universal platform that enables deposits anywhere, anytime. More than 1,100 banks already rely on Fiserv for our expertise in deposit capture. We consider Mitek's Mobile Deposit to be an exciting innovation."