October 28, 2013

U.S. Bank will be offering Mitek’s Mobile Photo Balance Transfer to its mobile banking customers, the bank announced today.

The service will allow customers to conduct a balance transfer to a U.S. Bank credit card by taking a picture of a credit card payment coupon in the bank’s mobile app. U.S. Bank will be the largest bank yet to offer the solution.

The bank has already adopted Mitek’s Mobile Photo Bill Pay and Mobile Check Deposit, and seen success with those solutions, said Chris Peper, VP of mobile channel management at U.S. Bank.

[For More On Mitek's Solutions Check Out: Mobile Imaging And Pain Points: An Exclusive Q&A with Mitek’s CEO Jim DeBello]

Mobile Photo Bill Pay, for instance, has proven popular with U.S. Bank’s younger customers, Peper reported. Three times as many of the bank’s customers in the 25-34 age range use Mobile Photo Bill Pay rather than the bank’s online bill service. “We want to target those customers,” Peper noted.

The bank has seen overall usage of advanced mobile banking features, such as those using mobile imaging, double on a per capita basis over the last year, Peper said. And U.S. Bank is hoping to continue that success in mobile banking by adding more such features like Mobile Photo Balance Transfer, he added.

“We want to remove friction from the customer experience. We want to replace the need for data entry [on the mobile device], and mobile imaging is a big part of that. We’ve started to refer to it as our ‘photo banking strategy,’” Peper related.

U.S. Bank plans to market the service to its customers with in-app advertisements that will present promotional offers for balance transfers, he shared.

The service will be rolled out to U.S. Bank customers in November, according to the bank’s statement.

Jonathan Camhi is a graduate of the City University of New York's Graduate School of Journalism, where he focused on international reporting and interned at the Hindustan Times in Delhi, ...