NCR Corp. (NYSE: NCR) Wednesday announced it will expand its strategic reseller relationship with mobile imaging solutions firm Mitek Systems (NASDAQ: MITK) to deliver its patented mobile deposit technology to financial institutions in Canada.
San Diego-based Mitek’s mobile deposit solution (MitekONETM) is currently used by eight of the top 10 banks in the U.S., and enables consumers to make deposits by taking a picture of their cheque with the camera on their Smartphone or tablet.
Once a consumer captures an image of both sides of a cheque, the NCR APTRA Passport technology submits the deposit with a financial institution’s back office for processing. The solution is designed for consumers or small services-based businesses, such as insurance agencies or home repair, who need to process cheques while on the run.
Duluth, Ga.-based NCR is integrating Mitek’s software into NCR’s APTRATM Passport to complete its multichannel Remote Deposit Capture (RDC) hub, which includes ABM, branch, commercial, and consumers now using mobile RDC offerings.
“NCR recognizes Mitek’s unique leadership and technological advantage in mobile deposit,” says Steve Nogalo, vice president and general manager, global payments and converged channels, at NCR’s offices in Waterloo, Ont. “NCR is committed to providing an enterprise RDC hub that addresses the specific needs of Canadian financial institutions and includes Mitek mobile deposit exclusively as part of our solution. We will better meet the needs of our customers in Canada providing tremendous value to the Canadian market.”
The Canadian Payments Association is working on a framework scheduled to come into effect mid-2012 that will enable cheque replacement documents (CRDs). This will allow financial institutions to offer RDC services, ultimately clearing the way for the digital transmission of a cheque and eliminating the need for the physical exchange of paper.