USAA Federal Savings Bank and Mitek Systems, Inc (OTC: MITK.OB) received the first-ever BAI MobileLink Awards for their achievements in innovation in mobile banking. The top honors, which are awarded to one financial institution and one solutions provider, recognize significant mobile accomplishments in retail banking. USAA won the BAI MobileLink award in the BAI Mobile Leadership category, and Mitek Systems received the BAI MobileLink award in the category of BAI Mobile Pace Setter. The honors were awarded yesterday during a ceremony at this year’s BAI Retail Delivery Conference & Expo held in Las Vegas.
USAA was the first bank in the nation to offer remote deposit capability with the release of the Deposit@Mobile® application last August, 2009. This solution allows qualified USAA members to deposit checks using smart phones by taking a photo of the check and submitting the image directly into their USAA bank accounts. In less than one year, over 1.5 million checks for nearly $1 billion were deposited using Deposit@Mobile®.
Mitek Systems was recognized for its success in applying technology to enable a smart phone to become a virtual scanner. Mitek’s Mobile Deposit® is an advancement that helps consumers and improves bank efficiency. The Mitek platform helps financial institutions differentiate themselves by incorporating mobile deposit and other advanced imaging capabilities into interactive services.
“These award winners and their solutions exemplify the quality and creativity that are driving developments in mobile banking today,” said Debbie Bianucci, president and chief executive officer of BAI. “Mobile banking is of value to consumers because it enhances their banking experience in critical ways including time savings and providing quicker access to funds. As financial institutions seek to attract and retain customers, mobile banking is becoming a vital driver of differentiation and customer loyalty.”
The four financial institutions selected as finalists for the BAI MobileLink Award in the category of BAI Mobile Leadership were: Bank of America, JPMorgan Chase, Citibank and PNC. These institutions were honored for significant achievement in advancing mobile banking through the implementation of consumer and small business mobile applications.
The four solutions providers selected as finalists in the BAI MobileLink Award in the category of BAI Mobile Pace Setter were CHARGE Anywhere, ClairMail, Fiserv and Monitise Americas. These companies were recognized for their contributions to increasing mobile usage and furthering mobile innovation.
About the BAI MobileLink Awards
The BAI MobileLink Awards honor significant achievement in mobile banking. This is the only award program of its kind that recognizes mobile accomplishments in retail financial services. The program is open to financial institutions and solutions providers serving the financial services industry. The BAI MobileLink Leadership Award recognizes financial institutions that have implemented exemplary mobile banking or payments initiatives that advance mobile banking for consumers and/or small business. The BAI MobileLink Pace Setter Award honors the contribution that mobile manufacturers, suppliers and operators make to increase mobile usage, further mobile innovation and expand business opportunities. Only one award is given in each category, and up to four finalists can be designated in each category.
About BAI
BAI is the financial services industry’s partner for breakthrough information and intelligence needed to innovate and stay relevant in an evolving marketplace. For more than 80 years, BAI has focused on advancing the industry by offering unbiased education and research. BAI’s offerings are as diverse as the industry, and include premier events such as BAI Retail Delivery Conference & Expo, groundbreaking research and performance metrics, and professional learning and development programs. With the rapid evolution of mobile banking and payments opportunities, BAI is committed to offering an ongoing series of mobile initiatives to help guide the industry’s advances in mobile – ranging from a BAI MobileLink Exchange Group, educational programs, mobile-focused strategic research and the BAI MobileLink Awards. Learn more at www.BAI.org.
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