RDM to offer Mitek ImageNet mobile deposit for iPhone and Blackberry
Mitek Systems, Inc., an innovator of image analytics and mobile document capture applications, and RDM Corporation, a leading developer of specialized software and hardware products for electronic payment processing, announced today that RDM will integrate Mitek's ImageNet Mobile Deposit into its Image & Transaction Management System (ITMS) suite of Remote Deposit Capture (RDC) products. The combined Mobile Deposit application will provide RDM customers with one of the first commercially available mobile merchant capture applications, and allow small and medium sized businesses the ability to use merchant capture virtually anywhere. The downloadable application is initially available for the iPhone and latest Blackberry handsets.
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ImageNet Mobile Deposit allows checks to be deposited from an end user's camera-equipped mobile phone, giving financial institutions the ability to provide their account holders an extra level of convenience and quicker availability of funds. The combined offerings will extend merchant capture to many small to medium sized businesses that process less than 25 checks a day and have been slow to adopt desktop RDC because of high entry costs which include specialized scanning equipment, software and maintenance costs.
"RDM will bring mobile merchant capture to small and medium sized businesses that have a need for timely cash deposits, and who can immediately benefit from having check deposits scanned in the field," said James DeBello, President and CEO, Mitek Systems.
"RDM is very excited to extend its Remote Deposit Capture capabilities to the convenience of a mobile phone, which will expedite check deposits even further," said Douglas Newman, President and CEO of RDM Corporation. "Adding mobile RDC functionality to our solution provides a critical business tool for small business owners working from remote locations. Not only will Mobile Deposit add convenience, but in many business applications Mobile Deposit will enable funds availability sooner than they are available today."
Using Mobile Deposit is a simple three-step process. The user initiates the Mobile Deposit application on their cell phone, keys in the deposit amount, and snaps a photo of the front and back of the check. The check images are conformed to Check 21 standards and transmitted securely over a wireless network to the bank as a remote deposit. The application ensures that the image captured meets industry standards for image quality for electronic check processing through Check 21 or image exchange methods and then provides the user with notification that the check image has been successfully accepted.