In the delivery of remote deposit capture services to large organizations, it’s suddenly a crowded field. It seems that everyone is depositing checks with their smartphones these days. This convenience for customers, who are saved a trip to the branch or ATM, is also a win for FIs — which save on the cost of processing paper checks at the branch and ATM. For several years Mitek has carried the banner for mobile remote deposit capture (RDC) and more recently, for additional image-banking products like mobile photo bill pay and mobile photo account-opening. but now new entrants are crowding the stage — will they cost Mitek business or are there enough customers to go around? Mitek suddenly has competition. Kofax has a long history in imaging for the back office, and recently stepped into mobile imaging as well. Now, with its comprehensive mobile imaging platform, which ties together several mobile imaging functions in one system, it is a serious contender for enterprise business. Kofax recently released the news that it had sold a license to a Top Five U.S. financial institution. (When the “Top Five” label is used, suspicion immediately falls on US Bancorp, the nations’s fifth-largest bank. Otherwise Kofax could [...]
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