Fiserv Inc., the leading global provider of financial services technology solutions, today announced the launch of Mobile Source CaptureTM, a new remote deposit capture solution that extends the convenience of remote check capture to camera-equipped mobile phones. Mobile Source Capture leverages best of breed Mobile Deposit technologies from Mitek Systems, Inc.

Mobile Source Capture is a downloadable application forcamera-equipped smartphones that allows users to securely take a picture of thefront and back of a check and deposit the item electronically, without everhaving to visit a branch, an ATM, the office or home. Users of Mobile SourceCapture can deposit a check instantly from wherever they are to the financialinstitution for processing, clearing, settlement  and posting. Mobile Source Capture is being initiallytargeted at clients seeking a customized or stand-alone solution, typicallylarge financial institutions, or any institution with a strong focus on leadingthe mobile revolution. The solution will be integrated with Fiserv accountprocessing solutions with specific integration announcements in 2010 and in2011.

Fiserv has been conducting customer pilot trials for mobiledeposit capture since 2009. Based on feedback from those pilots, Fiservexpanded the product to include multi-item deposit capability, single sign-onauthentication, and a virtual endorsement feature (the ability to place avirtual stamp on the back of the image). Fiserv also built in robust riskmitigation capabilities that allow for item validation to occur during capture.Fiserv offers enterprise-wide duplicate detection and a near real-time DepositReview feature which allow quicker feedback to the phone user while ensuringthe deposit is valid before it enters the deposit cycle.

'The cool factor of depositing a check by taking a pictureof it with your cell phone just can't be denied,' said Gary Brand, director ofSource Capture Solutions at Fiserv. 'These days, consumers want to be able tobank whenever and wherever they want -- especially Gen Y consumers, who aretech-savvy. Financial institutions that offer mobile deposit capture willprovide their customers with a new and convenient way to make deposits anytime, day or night, without ever stepping foot in a branch. Technology that canallow customers to bank the way they want increases customer satisfaction andcan attract new customers.'

According to research conducted by research firm Mercatus,59 percent of today's mobile banking customers are likely to adopt mobileremote deposit capture if the technology is offered by their banks. Anotherrecent study conducted by Javelin Strategy and Research, found that younger and higher-income consumers mostdesired the technology. According to the April 2010 study, more than half ofalert recipients, half of mobile bankers, 45 percent of iPhone users and 38percent of smartphone owners desire the technology.

'We believe there is a tremendous opportunity for mobiledeposit capture,' said Mark Schwanhausser, senior analyst, Multi-ChannelFinancial Services, Javelin Strategy and Research. 'Our research indicatesthat consumers are demanding more mobile capabilities from their banks. Webelieve that banks and credit unions should consider mobile deposit capturewhen planning their mobile channel strategy.'

With the proliferation and predicted explosive growth ofsmartphones, mobile deposit capture was the next logical addition to SourceCapture Solutions from Fiserv. Through the Source Capture Optimizationapproach, this new state-of-the-art product allows clients to take fulladvantage of this rapidly emerging market and stay in step with up-and-comingremote deposit capture solutions.Source Capture Solutions from Fiserv helpclients optimize all sources of deposit gathering by leveraging a single,Web-based platform across multiple touch points.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is the leading global providerof information management and electronic commerce systems for the financialservices industry, driving innovation that transforms experiences for financialinstitutions and their customers. Fiserv is ranked No. 1 on the FinTech 100 surveyof top technology partners to the financial services industry. For moreinformation, visit www.fiserv.com.