U.S. Bank, the fifth-largest bank in the United States and lead bank of
U.S. Bancorp (NYSE:USB), and Mitek Systems (NASDAQ:MITK), the leading
innovator of mobile imaging for financial transactions, have made an
agreement in which U.S. Bank will offer Mitek’s Mobile Photo Balance
Transfer™ to U.S. Bank mobile banking customers.
Mobile Photo Balance Transfer will allow U.S. Bank customers to easily
take advantage of credit card balance transfer offers from U.S. Bank by
snapping a photo of a credit card payment coupon using their mobile
device and sending it to U.S. Bank to apply for a balance transfer to a
U.S. Bank credit card. Standard eligibility criteria and credit approval
processes apply.
“U.S. Bank recognizes the power of mobile imaging and its ability to
enhance our customers’ experience by giving them new and innovative ways
to access and manage their banking relationship with us, said Niti
Badarinath, senior vice president and head of mobile banking at U.S.
Bank. “This is our third innovative mobile imaging service, following
DepositPointTM, mobile check deposit and Mobile Photo Bill
Pay, which was launched in March 2013.”
“It is a pleasure working with U.S. Bank to redefine what consumers
expect from their mobile banking experience,” said James DeBello,
president and CEO at Mitek. “Using our patented mobile balance transfer
process, U.S. Bank can bring the power of mobile imaging to a
traditional balance-transfer marketing program.”
U.S. Bank will be the first leading bank to offer this innovative credit
card service to customers in November 2013. U.S. Bank will further
enhance their customer’s mobile experience with Mitek MiSnap™ in the
first quarter of 2014. Mitek MiSnap is an enhancement that further
simplifies the imaging process by automatically capturing the best
possible photo without the customer needing to “snap” the picture.
About U.S. Bank
U.S. Bancorp (NYSE:USB), with $361
billion in assets as of September 30, 2013, is the parent company
of U.S. Bank, the 5th largest commercial bank in the United States. The
company operates 3,088 banking offices in 25 states and 4,937 ATMs and
provides a comprehensive line of banking, brokerage, insurance,
investment, mortgage, trust and payment services products to consumers,
businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
About Mitek
Headquartered in San Diego, Mitek Systems
(NASDAQ: MITK) is a mobile imaging software solutions provider that
allows users to remotely deposit checks, pay their bills, get insurance
quotes, and transfer credit card balances by snapping a picture with
their camera-equipped smartphones and tablets instead of using the
device keyboard. Mitek’s technology increases convenience for the
consumer by eliminating the need to go to the bank branch or automated
teller machine, and dramatically reduces processing and customer
acquisition costs while increasing customer retention. With a strong
patent portfolio, Mitek is positioned as the leading innovator in mobile
imaging software and currently provides its solutions to Fortune 500
financial services companies. For more information about Mitek, please
visit http://www.miteksystems.com.
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