Fast and convenient mobile check deposit is a high priority for financial institutions
Mobile check deposit is not just a “nice to have feature” in a mobile banking app. Today, mobile check deposit is critical for the masses, allowing consumers to gain quick access to their bank account and deposit funds during a time when heading to a physical branch location with a paper check may not be an immediate option. As it gets more difficult to deposit checks in person, banks and financial institutions are escalating the need to have a trustworthy mobile deposit feature in their mobile banking app.
Mitek is pleased to announce the release of Mobile Deposit® 4.8. This release will continue to build on the Mobile Deposit framework, providing even more control over financial institutions’ Mobile Deposit implementation. As a result, the service update will optimize online banking processes, limit extra work by teams and help customers get access to funds securely and quickly.
Key features from the release:
MICR Special Processing
Checks that deviate from the ANSI x9 standard like state refund checks can now have special processing applied. This allows for more check images to be successfully processed without the need for additional review by your team.
Blank payee & payor signature detection
Mobile Deposit now includes the option to flag a transaction if there is not a payee nor payor signature detected on the front of a check. This allows financial institutions to more tightly control how to handle incomplete checks or poor check images.
Date validation
This feature will actively alert financial institutions when endorsed checks passing through Mobile Deposit are outside of the normal processing interval for stale checks and post-dated checks.
Enhanced endorsement detection
Beginning with Mobile Deposit 4.8, the endorsement presence test (back of check) will be enhanced with two additional detection types. There will be a separate test to detect stamped endorsements as well as a third test to detect special character endorsements, such as X’s, check marks, or other marks that do not resemble traditional signatures.
Support for server and SQL 2019
Microsoft continues to make significant improvements in their Windows Server and SQL Server products. Mitek plans to continue our support of the latest Microsoft technologies with certification for Windows Server 2019 and SQL Server 2019.