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US Bank and Mitek Systems to launch Mobile Photo Balance Transfer service
Nov 07, 2013

Minneapolis/ San Diego, October 28th 2013 - U.S. Bank, the fifth-largest bank in the United States and lead bank of U.S. Bancorp, and Mitek Systems, 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.

 

Re-disseminated by The Asian Banker

Categories: Retail Banking, Technology & Operations
Keywords: US Bank, Mitek Systems



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