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Mitek says 2000 institutions signed for mobile remote deposit

02 April 2014  |  1264 views  |  0 Source: Mitek

Mitek (MITK), the leading innovator in mobile imaging for financial transactions, today announced that it has hit a new milestone with over 2,000 financial institutions signed for Mobile Deposit.

According to the Federal Reserve, 18.3 billion checks are written annually in the United States.

The company estimates that 11% of US consumers have deposited a check using their mobile device. Banks are beginning to increase mobile deposit limits and expand availability.

"We're excited to see the continued adoption of Mobile Deposit. We continue to support the top 10 banks in the country, and coupled with our 100% customer retention rate, this further solidifies our leadership position in the market," said James B. DeBello, president and CEO of Mitek. "We now estimate that consumers have deposited over $150 billion which represents more than 250% growth in cumulative deposit volume."

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