The new customer will then be asked by the bank to input another piece of key data, probably their social security number, after which the customer will be asked to answer some questions (via a multiple choice format in Mitek's demonstration of the product) for verification.
Mitek Chief Marketing Officer Scott Carter says for the customer verification process, "what we are doing is working with a broad network of companies, including Experian, to plug into their platforms for verification. There are additional capabilities around the integrity of the document. We compare the data in the bar code on the back of the license with the data on the front to help banks meet their security requirements."
The new customer can review their data during the account opening process to correct various items, including their address and the spelling of their name.
To make their initial deposit, the customer can then use Mitek's Mobile Deposit built into the bank's smartphone app to take a photo of a check, and then enter their initial deposit amount.Finally, the customer will be directed to create a user name and password for their new bank's mobile banking service. In an effort to make the smartphone camera easier to use, Mitek has developed a technology called MiSnap, which allows the customer to hover the camera over the check, driver's license, bill or other document, to automatically capture the required information. This results in a higher-quality image, while avoiding the possible nuisance of taking multiple photos. While Mitek doesn't have a high-profile customer signing to announce along with the rollout of Mobile Account Opening, DeBello says "we expect to announce a customer win very shortly."