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Fiserv launches remote deposit capture for mobile phones
BROOKFIELD, Wis. (8/30/10)--Fiserv has launched Mobile Source Capture, a remote deposit capture solution that extends the convenience of remote check capture to camera-equipped mobile phones. Mobile Source Capture leverages Mobile Deposit technologies from Mitek Systems Inc. The solution is a downloadable application for camera-equipped smartphones that allows the user to take a picture securely of the front and back of a check, then deposit the item electronically without visiting a branch, ATM, office or home. The financial institution receiving the image can deposit it for processing, clearing, settlement and posting. Mobile Source Capture initially is being targeted at clients seeking a customized or stand-alone solution, typically large financial institutions, or any institution focusing on mobile services. It will be integrated with Fiserv account processing solutions with specific integration announcements in 2010 and 2011. Fiserv, which is a global provider of financial services technology solutions based in Brookfield, Wis., has conducted customer pilot trials for the service since 2009. Based on feedback from the pilots, it expanded the product to include multi-item deposit capacity, single sign-on authentication and a virtual endorsement feature (via a virtual stamp on the back of the image). It also built in risk-mitigation for item validation during capture, and offers enterprise-wide duplicate detection and near real-time deposit review for quicker feedback to the phone user while ensuring the deposit is valid before it enters the deposit cycle.


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