Trends for 2011

2011 has just begun and many new trends are set to take off. Though there are many trends, two of them make Mitek Systems very happy. The first trend has to do with the growth of smartphones. In either 2011 or 2012 (depending on who’s counting), smart phones will most likely surpass both PC shipments and feature phone shipments (in the United States and Europe). This is a big deal because the focus by the entire wireless ecosystem will be on smart phones.

The second trend that pleases Mitek has to do with Mobile Check Deposit. Mobile Remote Check Deposit began to surface as banks, credit unions, and other financial institutions launched in 2010. Though there has been a lot of hype about Mobile Check Deposit, there has not been a large amount of companies who have launched. This year will most likely be the year where Mobile Check Deposit becomes mainstream as more institutions realize that they need Mobile Check Deposit in order to stay competitive and satisfy their customers’ wants/needs.

While remote deposit capture for banks is now widespread mobile capture from your smart phone has been limited. USAA was one of the first to deploy this technology and slowly other banks have been trickling out solutions. Recently we have seen Chase, State Farm Bank, and PayPal just to name a few. There are quite a few banking system providers that are now offering the capability to their clients through a partnership with Mitek – This allows more banks to deploy the technology easier.

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