ProfitStars. Remote Deposit Anywhere. Remote Deposit Anywhere = Mobile Remote Deposit. Using Mitek Technology

Transcription

1 ProfitStars Remote Deposit Anywhere Remote Deposit Anywhere = Mobile Remote Deposit Using Mitek Technology

2 ProfitStars Mobile Capture 2011 Webinar Series Mobile Remote Deposit Capture New Technology New Opportunities Thank you for joining! Please wait while others join the line. The Webinar will begin shortly. Telephone Information Code: As a courtesy to others, please place your phones on mute during the Webinar. You will receive a complimentary copy of this presentation shortly after the webinar.

3 Agenda Mobile Capture - What we will cover today Market Opportunity Integration and Delivery System Overview How it Works Technology Used Questions

4 What is the market opportunity for Remote Deposit Anywhere - Mobile?

5 Mobile Market Trends The total number of smartphone subscribers increased 72% year-over-year, growing from 23 million subscribers in 2008 to 36 million in 2009 Over 70% households in US have camera phones Over 40 million are smart phones with a 2 megapixel or higher camera More than 5 billion app downloads have occurred from the itunes store as of June 2010 and this trend is accelerating Source: Javelin Strategy & Research, Celent and Apple, Inc.

6 The Online Channel Rules Online has already overtaken branches as the dominant financial services channel. Branch transactions are down 1/3 to 1/2 in past 4 years. 70% of personal financial transactions take place outside the branch. Since branch operating costs are fixed, cost of in-person transactions increased 30-40%!!! A Lifetime of Change in 24 Months??!! Presented by Fred Brothers of ecom Advisors at NACHA Mega Meeting; 9/23/2009

7 Mobile Projections Cell phones most common device used for browsing the web by 2013 Number of browser-equipped phones to exceed 1.83B, compared to 1.78B PCs in use. (Gartner) 3B people globally will be able to make electronic transactions via mobile or internet technology by

8 Smartphone Wars Smartphone market share BlackBerry 39% vs. iphone 28% Apple will surpass RIM s market share by February 2012 Android share is growing fastest 64% of all mobile web browsing happens on iphones, i.e., on 5% of all U.S. mobile phones)

9 Transaction Costs by Channel Mobile is the lowest-cost banking channel to serve on a per-transaction basis. Fiserv White Paper: How to Achieve a Compelling ROI from Mobile Financial Services ;

10 Mobile Banking Projections Mobile banking usage will grow from 10 million active users in 2009 to over 53 million active users in Tower Group

11 Is mobile remote deposit a game changer?

12 Mobile Remote Deposit Early Adopters

13 Market Movers

14 First PayPal Financial?

15 Mobile Remote Deposit Trends 20% 1% 2% 6% Financial Institution Mobile RDC Plans 71% No Plans Considering Planning Testing Offering Intended Target Market 27% 42% 31% Business Consumers Both Source: Celent

16 Mobile Remote Deposit Trends 59% of mobile banking customers are likely to adopt mobile remote deposit capture if offered by their banks Key factors driving interest Convenience and accessibility of mobile phone-enabled deposits (52%) Faster accessibility to funds (45%) Lower time cost relative to other deposit options (39%). Source: Mercatus Mobile RDC Adoption Research Study

17 Value Proposition All of the benefits of remote deposit capture For the user: Save trips to the bank Accelerated clearing / enhanced cash flow Extended business hours Reduced return item risk Bank relationship consolidation For the bank: Attract low cost deposits Service customers beyond the branch foot print Lower branch servicing costs through the extension of the self service channel Lower processing costs Reduced transportation and paper ticket costs Through a more convenient, more readily available channel.

18 What does ProfitStars Provide?

19 Q delivery for Mobile Deposit with iphone for Consumer (RDI) and Micro- Business (RDMB) Remote Deposit Anywhere Plans Currently integrating patented Mitek technology into the EPS Payment Processing Platform EPS currently putting prerelease plans together for deployment

20 Remote Deposit Anywhere and Anytime Mobile RDC is a natural extension of our existing remote deposit solutions Consistent application of business rules across remote deposit solutions Proven, risk mitigation technologies Multi-platform support Supports the use of advanced mobile image technologies from Mitek Systems Inc. Mobile Remote Deposit From ProfitStars iphone Android Mitek Mobile Image Processing Remote Deposit Platform Risk Mitigation and Deposit Review Back Office Collection, Processing and Routing Blackberry

21 Key Solution Components ProfitStars provides: Mitek integration Remote deposit platform Business rules Deposit limits and review Duplicate detection Back office collection, processing and routing Implementation services Support Mitek provides: Branded mobile user interface Patented mobile image processing technologies Distortion correction Lighting correction Auto cropping

22 Security The connection between the Mobile Deposit phone application and the Mobile Deposit server uses the industrystandard SSL (Secure Sockets Layer) protocol, which utilizes state-of-the-art 256-bit encryption. This is the same connection type used by all computers and browsers for all secure communications, such as online banking. This prevents so-called "man in the middle" attacks, where a third party intercepts the communication between the two parties (the phone and the server in this case) without their knowledge.

23 CAR/LAR & IQUA Process The Mitek Mobile application talks to the Mitek Mobile Server running on EPS servers. Mobile server will CAR/LAR/IQUA the check image and send a decline back to the phone or an approval on to our services. The user will have immediate response as to acceptance.

24 How It Works Initialize Application Authenticate Enter $ Amount Photograph Check & Send 6 Deposit Receipt Confirmation 5 Process Check Data Send data

25 Remote Deposit Anywhere: iphone User Experience Download Mobile Deposit App from App Store

26 Login to mobile phone app Remote Deposit Anywhere: iphone User Experience Login screen Main landing screen Enter User name Enter Password Create new deposit Review previous deposits Touch Login User Options

27 User options Accounts (nickname) enabled for depositing Remote Deposit Anywhere: iphone User Experience Shows account that is selected Image/Data retention on phone; Save username/ password Can make modifications Can make modifications

28 Remote Deposit Anywhere: iphone User Experience Deposit Check Enter amount Take picture of front of check Take picture of back of check Uploaded Successfully uploading uploading

29 Review Deposits Remote Deposit Anywhere: iphone User Experience All Pending Success Failed

30 Mitek IMagePROVE provides: Advanced mobile image technologies handle: Arbitrary location and orientation of documents Three dimensional distortions (projective, skew, warp) Unknown document size Unknown color(s) of document and background Image dimensions Poor lighting conditions Shadows

31 Distortion Correction Example of Warped Check With Mitek Without Mitek Note: MICR line and account holder information purposely blurred

32 Lighting Correction Shadow With Mitek Without Mitek Note: MICR line and account holder information purposely blurred

33 Auto Cropping / Deskewing Complex Background With Mitek Without Mitek

34 Size Variation Detection Automatically identifies business and personal checks Computes actual size and generates bi-tonal / grayscale images equal in dimension to those produced by flatbed scanners at 200DPI With Mitek Note: MICR line and account holder information purposely blurred

35 MICR Read MICR read offers extremely low false rejects and low false accept rates, providing a superior customer experience and lower processing costs Actual Photo: Blurry MICR line on check image Actual Results: High-confidence correct read by Mitek Note: MICR line and account holder information purposely blurred

36 Front / Rear Image Detection Mitek provides advanced algorithms for detecting accidental scanning of the front side of a check twice and prompting the user to scan the correct rear side of the check With Mitek Without Mitek Note: MICR line and account holder information purposely blurred

37 Real Time Feedback Mitek provides instant, detailed user feedback to ensure a high quality user experience Cut Corners Message: Please retake the photo ensuring all 4 check corners are in the photo Extreme Contrast Message: Please retake the photo with less shadows Insufficient Light Message: Please retake the photo with better lighting Note: MICR line and account holder information purposely blurred

38 Planned Development Phase I Remote Deposit Anywhere via Consumer Capture/Micro-Business Capture (or Mobile Dep@sit) Mobile Deposit via iphone Mobile Deposit via Android Mobile Deposit via Blackberry Phase II Remote Deposit Anywhere via Remote Deposit Capture (EPS s Flagship System) Phase III Remote Deposit Anywhere to be integrated with Mobile Banking Solutions

39 FI User Management

40 Remote Deposit Anywhere: FI User Management Edit User: Enable Mobile Mobile settings will only appear if the FI merchant account is configured for mobile deposit

41 Limits and Deposit Review Review is triggered based on exceeding one or more limits Individual item limit Daily deposit limit Velocity limits Individual rules can be established for each client by the financial institution

42 Remote Deposit Anywhere: FI User Management FI Level Default Velocity Settings Mobile settings will only appear if the FI merchant account is configured for mobile deposit

43 Remote Deposit Anywhere: FI User Management Create Mobile Velocity Settings

44 Remote Deposit Anywhere: FI User Management View User: Create/Edit Velocity Settings Mobile settings will only appear if the FI merchant account is configured for mobile deposit

45 Remote Deposit Anywhere: FI User Management Create Mobile Velocity Settings

46 Remote Deposit Anywhere: FI User Management Reports List Totals Mobile settings will only appear if the FI merchant account is configured for mobile deposit

47 Remote Deposit Anywhere: FI User Management Reports List Exceptions Mobile settings will only appear if the FI merchant account is configured for mobile deposit

48 Questions? Remote Deposit Anywhere Solution Overview