Mitek, a US-based provider of mobile capture and identity verification software, has made its Mobile Deposit solution available to banks in the UK.
The technology vendor in a statement said that British lenders implementing the solution can leapfrog the expensive Remote Deposit Capture desktop scanner hardware investments.
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Early migration of checks to the mobile channel will allow banks to save in deploying or maintaining image capture infrastructure.
The company added that its image capture solution will be localised for different countries to process the varied specifications and formats of each country’s checks and differences in regional handwriting styles.
Mitek general manager, payments solutions, Michael Diamond said: "Adoption of Mobile Deposit in the United States and Canada has exploded. Now, thanks to the Small Business, Enterprise and Employment Act, UK banks will be able exchange check images as early as July of this year, clearing the path for widespread use of Mobile Deposit.
"Through a global partner, Mitek’s Mobile Deposit will be deployed at a leading UK clearing bank. As a result, depositors won’t have to travel to a branch or ATM to make a deposit, and banks will save millions in processing costs in the coming years."
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