Mitek turns camera phone into banking tool
Permalink: Mitek turns camera phone into banking tool
by Jan Harris
Mitek Systems is planning to demonstrate new camera phone technology at BAI-Transpay on 5 February, a tradeshow targeted at the banking industry.
The new software, ImageNet Mobile Deposit, can be used by banks to let customers deposit cheques or pay bills via a Windows Mobile phone.
The software uses the phoneâ€™s camera to photograph an item, then uses the data to carry out a secure electronic transaction.
Bank customers download a version of the software, branded for their own bank, onto their phone from the bankâ€™s website.
The customer can then initiate a mobile banking session, key in the amount, and take a photograph of the front and back of the cheque. The software then captures the images and extracts the chequeâ€™s Courtesy Amount and Legal Amount (CAR/LAR).
Paper bills can be paid in a similar way â€“ by taking a photo of the payment coupon.
The software could be made available by banks later in 2008.