re: Where to put new Technology money?

As I stated above I agree with all the bearish arguments against owning the company, but I also think there's tremendous potential. The USAA thing is really a black eye right now and no update on the matter is certainly worrysome.

I havnt seen the numbers on the decline of paper checks that you mentioned, but logic would tell you that's the case. That said, I think checks will always have their place, especially with the "under banked" folks.

On the contrary adoption rates for RDC are rising every year and are projected to reach around 30% by 2016. Mitek currently has agreements with over 500 financial institutions last time I looked, including most of the largest retail banks. And I believe less than half of them have actually launched the service. This tells me there's still tons of room for growth. The sad part is, as you mentioned, the revenue model is/was an absolute failure. I don't know if this is something they can change now or not.

Mobile bill pay is the next step for the company, and so far only US Bank has launched. It'll be interesting to see the adoption for that service. Fortunately the model for that service is going to be "different" per the last CC. Certainly a buy an hold for a while stock.