Wausau Financial Systems has entered into an OEM agreement with Mitek Systems, a developer of of image analytics and mobile-document-capture applications for smartphones.
The agreement will enable Wausau to offer Mitek’s mobile Remote Deposit Capture (RDC) capabilities to financial institutions in the US.
With the integrated capabilities of Mitek’s Check 21-compliant Mobile Deposit application and Wausau’s mobile RDC offering, financial institutions soon can provide their customers the ability to deposit either personal or business checks via camera-equipped smartphones, including iPhone, BlackBerry and devices on the Windows Mobile and Android platforms, according to Mitek.
Deployment of the application is expected to begin in September 2010.
Mobile Deposit application allows users to initiate mobile-deposit sessions, key in deposit amounts and snap photos of both sides of the checks with smartphone cameras. The Mitek software captures the check images and prepares them for transmission to the business’s receiving RDC solution.
Before transmitting, Mitek’s IMagePROVE technology formats the check images, automatically corrects any image distortions or skewing, and confirms that the images meet accepted image-quality standards. After the checks are submitted successfully, users receive communications back from their banks.
Kathy Strasser, executive vice president for solution management at Wausau Financial Systems, said: “With Mitek’s technology, we’re expanding our best-in-class RDC technology, making the solution more sophisticated and attractive for consumers and businesses alike. Further, financial institutions will see the benefits as well, from the ability to offer cutting-edge services to customers and enhanced customer loyalty, to increased profits and significant cost savings.”