Bluepoint Solutions Announces Mobile RDC

Mobile deposit capabilities allow quick, convenient, secure transfer of funds–

VISTA, Calif. July 8, 2010 Bluepoint Solutions, a Microsoft Gold Certified Partner and innovator in remote deposit capture (RDC), image-based item processing and enterprise content management software technology for financial institutions, announced the release of QwikDeposit To Go, a sophisticated mobile remote deposit capture application. Powered by Mitek Systems patented IMagePROVE technology, Bluepoint Solutions QwikDeposit Mobile Capture application completes Bluepoint’s existing suite of Check 21 capture points.

“When implemented alongside our existing branch, teller, ATM, merchant and home capture applications, QwikDeposit To Go is an opportunity for institutions to provide a valuable service for account holders, while at the same time drive out operational and processing costs, as well as add efficiencies in the check processing timeline,” said Hal Tilbury, chief executive officer and founder of Bluepoint Solutions. “The fusion of Mitek’s advanced image quality technology with Bluepoint’s proven remote deposit capture and item processing aggregation engine provides institutions with a sophisticated and reliable mobile capture application. Having the ability to deposit checks at any time of day, regardless of location is a service that is extremely valuable to consumers.”

“The dramatic increase in the use of smart phones, combined with consumer demand for mobile banking applications has created a perfect storm for mobile capture,” adds Tilbury. “The emergence of mobile capture  is a direct reflection of a larger shift in how people interact with their financial institutions remotely, 24 hours a day, on their schedule, and on the go.  Financial institutions of any size must react to these trends to remain competitive.  QwikDeposit To Go is a tool designed to help institutions do just that and as a result grow existing accounts and attract new customers or members.”

In a recent Mercatus Mobile RDC Adoption Research Study, Managing Partner, Bob Hedges, stated, “We expect consumers to significantly embrace mobile remote deposit capture and it will be the ‘killer app.’ With consumers placing a premium on convenience, mobile RDC has the potential to significantly change retail banking’s business model by providing a way for people to do basic banking without branches.”

Bluepoint’s QwikDeposit To Go enables consumers to securely deposit checks with a camera-equipped smart phone, providing quicker availability of funds and added convenience. Account holders initiate mobile-banking sessions, key in their deposit amount and simply snap photos of both the front and back of the check with their smart phone cameras. The software captures the check, formats the image, automatically corrects any image distortions or skewing and confirms the images meet Check 21 and mobile image-quality standards. All transactions are transmitted with multiple layers of security and, if necessary, can be traced back to registered smart phones, marked with time and location, in order to combat fraud.

QwikDeposit To Go relies on a patent-pending software application from Mitek Systems Inc. (OTC: MITK.OB; www.miteksystems.com), called Mobile Deposit®, which is being embraced widely by technology applications providers like Bluepoint Solutions and financial services institutions of all sizes for its ease of use, security and the industry leading quality and accuracy of its image processing.

Mobile Deposit complies with all industry standards “including Check 21″and was developed specifically to help banking institutions take advantage of the growing consumer acceptance of smart phone applications for the mobile Web, including mobile RDC, with the utmost security for every transaction.

“We think of Mobile Deposit as the ‘Gold Standard’in mobile RDC because of the acceptance of our application by all the major integrators and ASPs that cater to financial institutions,” said Mitek CEO James DeBello. “We’re very pleased that our partnership with Bluepoint Solutions further validates that trend.”

Bluepoint Solutions gives institutions the option of selecting a full licensed version of QwikDeposit To Go or they can take advantage of Bluepoint’s unique monthly use-fee delivery model. Additionally, institutions have the option to operate QwikDeposit To Go within Bluepoint’s SAS70-certified data center, enabling small to mid-size institutions to compete with much larger, nation-wide banks without making a large financial investment. Also included with the solution from Bluepoint is a proprietary online Marketing Center that provides institutions immediate access to a repository of professional-quality marketing collateral including statement stuffers, email campaigns and a variety of signage to build awareness and promote the new mobile deposit offering to the community.

“Mobile RDC allows smaller institutions to compete with larger, nationwide banks,” said Tilbury. “By bringing down the cost of mobile capture technology and making it easy for our customers to deploy, we are empowering the small-to-medium banks and credit unions we work with to better retain account holders and attract new ones. There is a lot of demand for this technology among the small to mid-size institutions and we look forward to making it available to our customers.”