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Wausau Financial Systems and Mitek Systems Enter into OEM Pact .SUBJECTCODE04003009Jul 19, 2010 (Close-Up Media via COMTEX) -- Wausau Financial Systems, a supplier of payment and receivables processing solutions, and Mitek Systems, a developer of advanced-image analytics and mobile-document-capture applications for smartphones, said that the two companies have entered an OEM agreement enabling Wausau to offer Mitek's mobile Remote Deposit Capture (RDC) capabilities to financial institutions nationwide. In a release, the group noted that with the integrated capabilities of Mitek's Check 21-compliant Mobile Deposit application and Wausau's mobile RDC offering, financial institutions soon can provide their customers the ability to deposit either personal or business checks via camera-equipped smartphones, including iPhone, BlackBerry and devices on the Windows Mobile and Android platforms. Deployment of the application begins in September. "With Mitek's technology, we're expanding this RDC technology, making the solution more sophisticated and attractive for consumers and businesses alike," said Kathy Strasser, executive VP, Solution Management for Wausau Financial Systems. "Further, financial institutions will see the benefits as well, from the ability to offer services to customers and enhanced customer loyalty, to increased profits and significant cost savings." A secure application, Mobile Deposit allows users to initiate mobile-deposit sessions, key in deposit amounts and simply snap photos of both sides of the checks with smartphone cameras. The Mitek software captures the check images and prepares them for transmission to the business's receiving RDC solution. Before transmitting, Mitek's ImageProve technology formats the check images, automatically corrects any image distortions or skewing, and confirms that the images meet accepted image-quality standards. After the checks are submitted successfully, users receive instant communications back from their banks, resulting in rapid access to funds or timely payments, the group noted. ((Comments on this story may be sent to [email protected])) |