How do you deposit your money now? Not sure about you but for me, I either have to go to the bank to deposit checks or send them to my online bank. The process also requires to fill out a deposit slip and often than not I have to stay in a line to wait for my turn. Talk about inconvenient!
So how about a technology that enables consumers to deposit checks into their bank accounts by snapping and sending a picture of them with their mobile phone? Yes, it is not a fiction but a technology already available, which is called "remote deposit capture (RDC)". Think about it: everyone hates lining up and waiting and everyone hates filling out a form but almost everyone is using a mobile phone. I'm not sure who will not love this kind of convenience. No wonder over 200 financial institutions presently offer RDC services and one thousand more are expected to offer them within the next year. Someone even went as far as hailing mobile RDC as possibly "one of the most important retail-banking innovations of this decade."
I think this is a kind of company you want to own and get in early! It has the potential to bring you a huge profit, even 10 times your invested capital. Of course, at this stage, it is still a risky speculation. No guarantee!
The company I'm talking about and interested in is Mitek Systems (Nasdaq: MITK) based in San Diego. Mitek literally created the mobile RDC market with its patent-protected ImageNet Mobile Deposit software. It was the first product of its kind, and it has quickly become the industry standard. Investing in a company with products that are innovative, easy to use and convenient is a great way to potentially make big money. Yes, the MITK stock price has jumped 80% this year but I think it is not too late and much more is to come in the next few years. I have got in now.
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