TAWPI @ NACHA Payments

Posted by Mark Brousseau

Mike Packer of J&B Software (pictured) demonstrates the vendor’s Mobile Deposit solution yesterday at NACHA’s Payments 2010 at the Washington State Convention Center in Seattle. The solution, developed by Mitek Systems and incorporating J&B Software’s workflow and check clearing capabilities, enables users to make remote check deposits using mobile smartphones.

“Mobile Deposit makes a lot of sense for companies that don’t have a lot of check volume, such as a business with five to six checks a week,” Packer says, adding that J&B Software would fall into that category since it receives most of its payments electronically. “Banks have been slow to move on this,” he says, noting the vendor has several pilots underway among its customers. “But in five to six months, we expect to have significantly more conversations on Mobile Deposit as bank IT budgets begin to loosen up. SaaS will help adoption by making it easier for banks to set-up mobile deposit.”

Packer says the vendor’s recently introduced SaaS delivery model for Mobile Deposit was generating a lot of interest at Payments 2010. The SaaS delivery model eliminates barriers to entry, allowing organizations to quickly adopt mobile deposit with minimal up-front cost and setup requirements, Packer says. “SaaS extends mobile deposit to millions of potential new users,” Packer says, noting Mobile Deposit is targeted to banks, brokerages, retailers, insurers, consumers and freight companies.

The solution captures check images through a mobile smartphone and prepares them for transmission to the financial institution as Check 21-compliant images using Mitek's mobile IMagePROVE technology. For security purposes, a complete audit trail of where, when and how each check was captured is logged. No data or images are stored on the smartphone, Packer says, and all communication is 128-bit encrypted.