Mitek Systems Inc. offers a mobile app that enables consumers to switch bank credit card accounts as simply as “point, shoot and transfer.” The application enables a bank’s customer to use a smartphone camera to take a picture of a competitor’s credit card payment coupon. The customer transmits the information to the bank, which then can offer the customer a better interest rate to incent the customer to open a new credit card account and transfer an existing balance.

For banks, Mobile Balance Transfer broadens the reach of traditional balance-transfer marketing programs, enabling the bank to interact with the customer in real time. By accepting the bank’s offer, the consumer simply transfers his or her outstanding credit card balance to a new credit card account offering a more attractive rate, saving the customer time and money.

“The better banks understand the power of the digital-scanning devices in consumers’ hands, the more they want to add applications that create more intimate relationships with their customers that are based on convenience and trust,” said Mitek President and CEO James DeBello. “We’re responding to the banks’ requests for greater functionality and simplicity for users.

Mitek’s extractive-imaging technology works with both paper and nonpaper documents, including drivers’ licenses, gift cards, receipts, invoices, tax documents, and many others.


http://www.miteksystems.com/pages/press/MITEK-BalanceTransfer-FINAL.pdf