The Mobile Imaging Cloud is Here!

As you already know, Mitek’s technology allows people to deposit a check by snapping its picture with a phone’s camera. What you might not know is that earlier today, Mitek announced that it is planning on letting other businesses use its technology to create their own mobile applications.

Mitek’s character-recognition software, which reads handwriting and other information, will be embedded into apps for insurance, real estate and health care. By letting people use phones to submit paperwork, the technology could speed up customer enrollment, automate expense reports or update medical records.

The new Mobile Imaging Cloud service will be delivered to companies via Inc. (AMZN)’s cloud-computing system, which hosts programs in data centers. Already, banks such as JPMorgan Chase & Co. (JPM) use Mitek’s technology to let customers deposit checks without having to visit a branch. Mitek aims to follow the example of Google Inc. (GOOG)’s Maps service, which is integrated into hundreds of other companies’ apps.

A social-networking site, for instance, might let users add friends by scanning photos of business cards. CardMunch, which offers a similar service, was acquired by LinkedIn Corp. earlier this year.

Sales of software is this area — either for phones or conventional scanners — should reach $1.4 billion in 2015, up from $163 million last year, according to Harvey Spencer, founder of New York-based research firm Harvey Spencer Associates.


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