Credit Unions Harness The Power Of Mitek's Mobile Deposit To Fuel Growth And Secure New Members

"Many members have told us that they enrolled in mobile banking specifically for Mobile Deposit, which has resulted in an increase in overall mobile banking adoption," said Corina Watts, senior manager of marketing, University Federal Credit Union, the largest locally owned financial institution in the Austin, Texas area, with more than 150,000 members. "Twenty percent of our members now use mobile banking services and since launching our Mobile Deposit solution just eight months ago, we have already had more than $16 million deposited from our member's smartphones or tablets."

"We believe that making our member's lives easier with Mobile Deposit will help drive long-lasting relationships. Additionally, with a large population of college students, Mobile Deposit is a valuable tool to retain members after they graduate and move out of the area," added Watts.

Tony Rasmussen, senior vice president of eServices at Utah-based Mountain America Credit Union, said, "There are many reasons credit unions see tremendous value in Mobile Deposit®. It allows us to compete with financial institutions of all sizes, increase deposit volumes and reduce deposit costs, and it gives us the ability to expand our geographic footprint without adding new brick and mortar branches. Most important, it is very convenient for our members, making their lives easier and improving their customer experience."

Mitek's Mobile Deposit is a mobile remote deposit capture (RDC) solution used by hundreds of financial institutions to enable seamless, secure and fast mobile deposits for their customers. Earlier this year Mitek announced that approximately $10 billion in mobile deposits has been enabled by Mitek's mobile imaging technology.

About Mitek Systems

Headquartered in San Diego, Calif., Mitek Systems ( MITK) is a mobile imaging software solutions provider that allows users to remotely deposit checks, pay bills, get insurance quotes, and transfer credit card balances by snapping a picture with their smartphone or tablet cameras instead of using the device keyboard. Mitek's technology increases convenience for the consumer by eliminating the need to have to go to the bank branch or automated teller machine, and dramatically reduces processing and customer acquisition costs while increasing customer retention. With a strong patent portfolio, Mitek is positioned as the leading innovator in mobile imaging software and currently provides its solutions to Fortune 500 financial services companies. For more information about Mitek Systems, please visit  www.miteksystems.com .

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