the power of picture for customer acquisition

Busting the Top 5 Onboarding Myths

The Power of Picture for Customer AcquisitionPresented August 18, 2015

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Webinar will be recorded and be posted to our website.

Q&A Well be saving time at the end for any questions Questions can be typed into the questions panel and well try to get to as many as we can.

Housekeeping Items

2015 Mitek Systems Inc.| #

Jim Marous: Co-publisher of The Financial Brand & Owner and Publisher of the Digital Banking Report

Named as one of the Top 5 Financial Technology Influencers to Follow, Jim Marous is an internationally recognized financial industry strategist and the publisher of the Retail Banking Strategies section of The Financial Brand and well as the Digital Banking Report.

TheDigital Banking Report,Guide to Digital Account Opening, focuses on the digital account opening experience, and the landscape of solutions and workflows that comprise the end-to end account opening process.

Todays Presenters

Sarah Clark: VP, Product at Mitek

Sarah directs product strategy and roadmap for Miteks mobile capture and computer vision platform and suite of products including Mobile Deposit, the market leading MiSnap SDKs, and the Photo Fill and Photo Verify product lines removing friction from mobile customer acquisition while transforming mobile identity verification.


Busting the Top 5 Onboarding MythsThe Power of Picture for Customer Acquisition

5Digital Account Opening

Imaging features are the most positively reviewed features by customers. Data entry is painful. Every phone has a camera. New research shows that customers like convenience and dislike apps that dont use features their phones have.

Niti Badarinath, Senior VP U.S. Bank

Why Digital Account Opening?70% of likely checking account applicants say they would prefer to submit a digital application.Only 20% of top U.S. banks currently offer mobile-optimized new account opening.Digital and mobile functionality is being introduced to the physical branch environment6

Digital Account Opening Challenges7

Core FeaturesDigital account opening is defined as a collection of core features: Capture applicant dataQualify applicants Verify applicant identity (usually through third-party data sources)Real-time account fundingAutomatically create accounts in the core banking system8

Ancillary FeaturesNew features that are becoming the best-in-class standard in the industry: Contextual prequalification for and cross-sell of additional productsOnline banking single sign-on (bypassing some data entry and identity verification steps)Save and resume functionality (supporting multichannel processes)Electronic signatures (replacing signature cards)Ability to upload photos of supporting identification documents9

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Digital Account Opening TrendsCamerasTouchscreensDevice AuthenticationGeo-LocationIn-Branch Mobile Capture17

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9 Steps for Designing for Optimal User ExperienceClean navigationCustomer preparationSimple data collectionDigital replacement of paperPre-population of dataInitiation of onboardingRetargeting of abandoned appsMove mobile process to branchFund electronically19

BankMobile Mobile Account Opening20



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Owner, publisherDigital Banking ReportJim [email protected]@jimmaroushttp://bit.ly/DAOREPORT

Just Published:58 pages, 16 charts

Headquartered in San Diego, CA,A NASDAQ Company (MITK)12Global Leader inmobile capture and identity verification technology 3Optimizes mobile for safe, secure customer acquisition

4Proven Technologyused by 4,000+ financial service providers and~50 million consumers5Available direct and through an reseller/partner network Win the Mobile Moment.Global Leader in Mobile Capture & Identity Verification


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Global Capabilities

Mitek Acquires

A Global Identity Verification Solutions ProviderSolidifies Miteks position as the global leader in mobile capture and identity solutions for customer acquisitionIDcheckers cloud based platform deepens Miteks ID verification capabilitiesIncreases Miteks global presence and adds customers in international payments, financial services and information services

Includes auto capture patent and advanced facial recognition technologyExpands global ID document coverage with more than 3,500 document types


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Photo Fill- Quick & Accurate"Banks are gravitating toward a new technology they think can help customers more easily open mobile accounts: allowing customers to photograph their driver's license from their smartphone to help them auto-fill portions of their application. - American BankerReduce abandonment by taking photos of driver license or other IDs* to easily pre-fill data into mobile forms...

*Scans most common North American ID cards like driver license, state IDs, passports (MRZ), cards with Vehicle Identification Number (VIN)

Reduce friction for consumers with instant data pre-fillMaximize profitability with more customer onboarding andfirst-time user successDouble the number of new accounts bookedOpen and fund new accounts instantly


Quotes isnt quite right26

100% IncreaseBeforeStartsCompletesPendedFundingBooked50%30%34%34%32%200k 19k7k136k64k68k23kAfter - Photo Fill50%44%32%200k 32k14k64kMobile optimized means marketing opportunities to increase statsMAIN Mobile App complete rate increaseMobile App book rate increase (funding + additional docs)Photo Fill - The Value PropositionMobile Desktop

Mobile


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Solutions Demo


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Photo Fill- For Native App with Funding


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Photo Fill- For the Mobile Web


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Enable Deposits

Questions?

Thank you for attending!To find out more contact us at: [email protected] call 858-309-1704


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