Research firm Aite projects mobile banking will grow 300 percent over the next four years. The technologies that enable consumers to conduct banking functions such as deposit checks and pay bills from mobile devices are in high demand. Aite reported that monthly bill payment from smartphones is expected to more than double over the next two years, from 14 million to 34 million users paying bills with their mobile device.
The '914 patent: Systems and Methods for Mobile Image Capture and Remittance Processing, includes the processes and methods Mitek has developed to capture a bill image, improve the quality of the image, extract the required content, identify the intended recipient and pay the bill.
About Mitek Systems
Headquartered in San Diego, CA., Mitek Systems (Nasdaq:MITK) is a mobile imaging software solutions provider that allows users to remotely deposit checks, pay their bills, get insurance quotes, and transfer credit card balances by snapping a picture with their camera-equipped smartphones and tablets instead of using the device keyboard. Mitek's technology increases convenience for the consumer by eliminating the need 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 http://www.miteksystems.com. MITK-GConnect with us on Facebook: http://www.facebook.com/MitekSystems Follow us on Twitter: @miteksystems See us on YouTube: http://www.youtube.com/miteksystems Read our latest blog post: http://www.miteksystems.com/blog
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