In just a few months, we will be celebrating the tenth anniversary of Mitek's launch of Mobile Deposit® – a product now offered by 6,100 banks, credit unions and brokerages under their own brand. Eighty million consumers in the US and Canada love Mobile Deposit® for its ease and convenience.
We estimate that Mobile Deposit® has enabled more than 2 billion deposits, worth over $1.5 trillion dollars. In addition to the operational costs that Mobile Deposit® has saved banks, we estimate that it has helped consumers save more than one million hours of their own time by depositing a check from the comfort and safety of their home or office. Bottom line: over the past 10 years, Mobile Deposit® has become part of the vocabulary of banking and a showcase service of mobile banking.
Mitek has and will continue to innovate around Mobile Deposit®. We’ve added Mitek MiSnap™, which automatically captures the image of the check, enriching the customer experience. We have also added multi-check capture to facilitate convenient deposits for businesses. Whoever thought that banking could become “magical”? We did, and so did you.
We thank you, our partners and our customers, for your business and confidence. Our extensive patent portfolio for our inventions has been secured to protect your investment and ours. Your success is our success and we don't take that lightly.