Ok, the name is a bit long, but the technology is pretty cool. Mitek's "Commercial Mobile Deposit Capture" can certainly add a ton of value to a credit union's already loaded arsenal of mobile services. It's the next step in mobile and credit unions can leverage a technology like this to its growing small business membership -- which ultimately enhances its value.
We invited Mitek's VP of Product of Mitek Systems Sarah Clark on the show to get the lowdown on this new mobile service. Sarah explains how this remote technology differs from the uber convenient remote deposit capture service that I can't live without now. We also discussed how this technology can be very attractive and "sticky" service to small businesses looking for a place to manage their money -- as well as how it works, why it's needed, and when it's available.
Some other points regarding this mobile service:
-- eliminates the risk of physical documents getting lost in transit
-- marries the checks with invoices/remittance coupons for streamlined reconciliation
-- lowers processing costs for financial institutions
There's much more that we covered in this talk. So check it out and let us know what you think.