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ClairMail, Mitek Systems partner for mobile check deposit service

ClairMail Inc. has partnered with Mitek Systems Inc. for mobile deposit capabilities for bank customers.

ClairMail will integrate Mitek’s mobile deposit application into its mobile banking and payments platform. As a result of the partnership, financial institutions will be able to give consumers access to funds faster.

“The partnership provides consumers with another more convenient channel to deposit funds, through a fully integrated mobile experience,” said Reetika Grewal, director of product marketing at Clairmail, Novato, CA. “By integrating mobile deposit, ClairMail enables banks to offer customers the ability to deposit checks from anywhere just by using the camera on their cell phone.

“Banks are no longer reliant on the physical presence of ATM machines and branches which allows the bank to expand their geographic footprint,” she said.

Ms. Grewal said that the partnership gives financial institutions the ability to provide consumers with faster availability to funds and an extra level of convenience.

ClairMail is a provider of mobile banking, payment and card services. Its clients include the Bank of Stockton, City Bank Texas and Alerus Financial.

Mitek Systems is a provider of image analytics and mobile document capture applications for camera phones.

ClairMail and Mitek will provide bank customers with a service that combines the benefits of all three modes of mobile banking – SMS, mobile Web and ClairMail’s Smart Client application – with remote deposit capture in one interface.

The ClairMail platform also has a multilevel alerting capability that lets users conduct transactions, respond to or resolve account activity and account details after the check submission process.

Ms. Grewal said that consumers expect to conduct everyday tasks including their banking with their smartphones and financial institutions are looking for ways to increase their funds on deposit and ClairMail’s Mobile Remote Deposit Capture expedites that process.

ClairMail is targeting banks and credit unions of all sizes for this new service.

“This opens the door for many banking institutions to be able to easily offer mobile deposit capabilities to their customers in an integrated mobile banking and payments experience,” Ms. Grewal said.

Ms. Grewal cited a stat from Informa Telecoms and Media that found that 2013, almost 300 billion transactions worth more than $860 billion will be conducted using a mobile phone and the market for mobile deposit capture is expected to grow to $10 million in 2016.

The market potential for mobile payments is massive and mobile deposit is rapidly becoming a crucial part of any mobile banking offering, she said.

Ms. Grewal said that the rise of smartphones has driven demand from customers for mobile banking and payments, yet basic mobile Web banking services have yet to move the needle with adoption.

“Mobile banking solutions need to not only provide mobile Web access but also give banks the ability to communicate with consumers and a way for consumers to engage with the bank,” Ms. Grewal said.

“New mobile banking solutions with multilevel alerting and remote deposit capabilities empower users to conduct transactions, respond to or resolve account activity and receive details after they submit a check via their phone all within the mobile channel,” she said.

“These new innovative solutions will be much more effective in actually changing consumer behavior and will power the adoption of mobile banking.”