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re: Where to put new Technology money?
Posted on 3/25/13 at 6:56 pm to ynlvr
Posted on 3/25/13 at 6:56 pm to ynlvr
I don't think they have any exposure to medical imagining, that I know of anyway.
Right now they basically service all the major (and a lot of smaller) banks for remote deposit capture. So the chase commercial you see that allows customers to snap a picture of a check and deposit without going to the bank, that is their core business. For now anyway. The adoption of this seems to be growing at a pretty rapid pace.
They recently were granted a patent to snap a picture of a bill and pay it with your mobile device, so we'll see how that goes.
A couple things to look into; last I saw there was a patent depute with USAA over the remote deposit capture technology. Additionally, their revenue model hasn't seemed to yield very much with the amount of deposits they have serviced. So basically, I believe they sell blocks of transactions to banks as well as the channel partners up front, and they then "re-up" when needed. This produces what their CEO calls "lumpy" earnings.
All said, I think it's definitely worth keeping on the radar.
Right now they basically service all the major (and a lot of smaller) banks for remote deposit capture. So the chase commercial you see that allows customers to snap a picture of a check and deposit without going to the bank, that is their core business. For now anyway. The adoption of this seems to be growing at a pretty rapid pace.
They recently were granted a patent to snap a picture of a bill and pay it with your mobile device, so we'll see how that goes.
A couple things to look into; last I saw there was a patent depute with USAA over the remote deposit capture technology. Additionally, their revenue model hasn't seemed to yield very much with the amount of deposits they have serviced. So basically, I believe they sell blocks of transactions to banks as well as the channel partners up front, and they then "re-up" when needed. This produces what their CEO calls "lumpy" earnings.
All said, I think it's definitely worth keeping on the radar.
Posted on 3/25/13 at 11:13 pm to TigerDeBaiter
quote:
I like MITK, but do your own DD. They are the tech. behind mobile deposits an have recently moved into the mobile bill pay space.
I work in this space. Mitek is a small piece of the puzzle and they have very little opportunity to monetize on it right now.
This post was edited on 3/25/13 at 11:16 pm
Posted on 3/27/13 at 7:20 am to TigerDeBaiter
quote:I hope USAA Federal Savings Bank doesn't have to change its Deposit At Home feature. I use it routinely. I love that deposits are available immediately.
A couple things to look into; last I saw there was a patent depute with USAA over the remote deposit capture technology.
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