News from BAI Transpay 2009: Mitek Makes Mobile Moves with mFoundry, RDM

RDM (Ontario), a company that develops hardware and software for electronic payments, will integrate the ImageNet Mobile Deposit product from Mitek Systems, providers of mobile imaging technology, into its Image & Transaction Management System (ITMS) suite of remote deposit capture products. The companies say the combined Mobile Deposit application will provide RDM customers with one of the first commercially available mobile merchant capture applications, and allows small and midsize businesses the ability to use merchant capture virtually anywhere. The downloadable application is initially available for the iPhone and latest Blackberry handsets.

ImageNet Mobile Deposit allows checks to be deposited from a user's camera-equipped mobile phone, giving financial institutions the ability to provide their account holders with a more convenient, faster way to deposit and use funds.

In related news, Mitek used an iPhone to demonstrate its ImageNet product integrated with the mobile banking application from mFoundry, a provider of mobile banking and payments solutions, at the Transpay show. According to the companies, this marks the first time a check scanning/deposit capability has been integrated with a mobile banking application.

Users begin a session in the mFoundry mobile banking application, key in the deposit amount, and snap a photo of the front and back of the check.