Mobile Check Deposit Cited As No. 1 Mobile Feature For Motivating Consumers To Switch Primary Banks, According To New Independent Research Study

SAN DIEGO, June 15 , 2011 /PRNewswire/ -- Mitek Systems, Inc. (OTC: MITK.OB; www.miteksystems.com), is citing new independent research reported by Mercatus LLC, a leading financial services strategy firm in Boston, that finds mobile check deposit ranks as the top mobile-banking feature that would prompt consumers to switch primary banks.

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In response to the question, "What are the most important features of mobile banking that would cause you to switch primary banks," 43 percent of consumers interested in mobile banking cited mobile check deposit, according to the study, which was completed in May and previewed last week at the Mobile Banking and Emerging Applications Summit in New Orleans. Paying bills and checking account balances via mobile devices ranked second, both with 28 percent.

"Our survey results clearly show that Mobile Deposit® helps drive customer acquisition and ROI for financial institutions," said Mercatus Managing Partner Robert B. Hedges, Jr. "The data we've gathered shows that mobile banking – with mobile check deposit as a cornerstone capability – is becoming a strategic growth engine for banks."

James B. DeBello, President and CEO of Mitek, the leader in mobile-imaging applications using smartphone cameras for check deposits, bill payments and ACH enrollments, said the new findings reflect Mitek's growth. With five of the nation's top 10 retail banks among dozens of banks implementing its patented technology, Mitek offers the most widely deployed mobile Remote Deposit Capture (RDC) application in the market today – Mobile Deposit.

"Mercatus' findings dovetail with the anecdotal reports we hear every day from our technology partners and their financial institution customers about consumers' appetite for mobile RDC," DeBello said. "Given the huge popularity of Android and Apple devices, we believe that banks, credit unions and other financial institutions that don't offer mobile banking with check deposit risk losing customers to those that do offer mobile RDC."

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