Mitek—a provider of mobile imaging for financial transactions—and Kony recently announced an agreement to provide customers with Mitek’s Mobile Photo Bill Pay, which features MiSnap touch-free mobile capture technology.
“Our collaboration with Mitek ensures that we can deliver a photo bill payment solution that is truly optimized for our award-winning mobile application platform,” Kony CTO Sriram Ramanathan said. “This integrated, end-to-end solution will be easy for organizations to implement so they can quickly capitalize consumer demand for mobile bill pay.”
The partnership will streamline the delivery of the payment solution by expanding Mitek’s distribution and leveraging Kony’s mobile solution integration. The Mobile Photo Bill Pay allows financial institutions to provide bill payment by automatically extracting relevant information from a photo of a paper bill coupon and auto-populating the fields in the app.
A recent report from Javelin Strategy & Research indicated that 42 percent of consumers who have used mobile banking in the past three months also desire to use mobile photo bill pay.
“Mitek’s patented solution is the first mobile photo bill pay solution in the market,” Mitek President and CEO James B. DeBello said. “We are seeing it drive adoption of mobile banking and bill pay. Our customers report as much as a 20 percent increase in overall mobile banking logins and a 33 percent increase in bill pay adoption in 25- to 34-year-olds within a few months after deployment.”
The announcement marks the first phase of an ongoing partnership between Mitek and Kony that builds on the application of Mitek mobile imaging for healthcare, telecommunications, insurance, utilities and retail solutions.