Smartphones and Mobile Deposit

When camera-phones were first launched the digital camera industry was not at all concerned, claiming they would never catch on and never rival their sales. This confidence was shattered when camera-phones took 90% of the market. The world’s first camera-phone was launched in 2000. By 2003, more camera-phones were sold globally than all stand-alone digital cameras. By the next year, camera-phones alone outsold all types of stand-alone cameras (digital and film-based). Today camera-phones outsell stand-alone cameras by 10 to 1.

In hindsight, it should have been clear from the outset, the huge consumer uptake. Mobile phones are everywhere, portable, convenient and always on you, it just makes sense.

At the beginning the camera-phones had a few issues, like low mega-pixels and only being able to send it as an MMS. But as these problems were overcome, there was nothing standing in the way, and the entire mass market shifted. Most if not all of the current Smartphones have cameras, and their cameras are quite good. The quality of the images that the smartphones deliver are as good and sometime better than the regular digital cameras. Because the cameras on these smartphones are so awesome the technology based around them has become phenomenal. Utilizing your phone to deposit a check is possible with ease due to a combination of high quality Mitek technology and high quality cameras that are now on smartphones. As the market for smartphones continues to grow, so will the demand for Mitek’s Mobile Deposit application, which is offered on iPhone, BlackBerry, and Android platforms.


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