Mitek Introduces Mobile Photo Account Opening

Banker Resource
September 11, 2013 — 1,522 views  
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With technology growing at a rapid pace, many businesses are now finding new ways to impress their customers by making their operations more tech-friendly. This allows customers to be a part of the business by accessing their information from computers or mobile devices from anywhere in the world. In the case of banks, customers are now able to check their online bank account balances with a swipe of their finger or the press of a button. This has made it easier for businesses such as banks to move out of the monotony of a desk-job into a more interactive banking experience.

What is this Feature?

Mitek systems is one of the few companies that is making this step more easy for banks after they decided to release their latest mobile banking platform with the Mobile Photo Account Opening feature. Mitek is one of the leading companies that has now created and developed a smartphone camera-based mobile banking application that allows customers the opportunity to make account applications really quick. This particular product is able to capture the person's identification details using the mobile phone's camera. 

Mitek uses a technology called MiSnap which records a short video of the ID that has to be captured. It then automatically fills in the information on behalf of the customers such as the name, address and other details required to open an account on to a digital form. After this, the customer can choose which type of account to open such as Savings, Current or Credit, and create a unique username and password.

Why Launch Such a Feature?

This feature is great for any person that wishes to get a bank account, as it eliminates the time required to fill out a form. This has prompted over 1,000 financial institutions to purchase this product as it has many advantages that will help save the bank a lot of time and money. As this is a self-service feature, it gives an opportunity for banks to have their tellers move from behind the desks and onto the floor so that they can speak to their customers more casually and informatively. With the help of a tablet, the staff members can then assist the customers with opening the bank account by orienting them on the steps that need to be taken. After the account has been created, the customer can immediately provide funds to the account with Mitek's Mobile Check Capture technology.

Banker Resource