Mobile banking growth requires greater focus on security

Banking information stored on a phone is a big time security concern. Browser and email based solutions in particular are not secure at all. These methods amount to reckless publishing of sensitive data that can be accessed without much effort. That is why Mitek Systems developed an application where the information provided must verifiably come from a known customer, be intended for an existing account, and use a valid check. Check images are not stored on the phone, and whatever information that does remain on the phone must be temporarily protected (i.e. with passwords) and encrypted using state-of-the-art 128-bit encryption.

I think it might be beneficial for you to check out Mitek Systems’ recently completed a white paper describing the requirements for any successful mobile check deposit application. The paper provides the reader with a useful list of criteria against which any mobile remote deposit capture (MRDC) system needs to be evaluated. In the process, the paper defines a “Gold Standard” for such applications:


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