U.S. Bank to Roll Out Mobile Balance Transfer, Corporate Travel Tool (Oct. 29, 2013)
U.S. Bank next month will roll out Mobile Photo Balance Transfer, a feature from Mitek Systems enabling customers to apply for a credit card balance transfer by snapping a photo of a credit card bill with a smartphone and sending it to the bank. Standard credit card approval processes apply. The new service rounds out recent improvements to U.S. Bank’s various mobile-imaging tools for smartphone users, including remote check deposit and mobile bill-pay, according to an announcement this week from the Minneapolis-based bank.
U.S. Bank is the first to deploy Mitek’s latest mobile-imaging banking technology, according to San Diego-based Mitek. Early next year Mitek plans to enhance its mobile financial services offerings with Mitek MiSnap, which automatically will capture the best possible smartphone camera image of financial documents.
On the B2B side, U.S. Bank today announced the full market launch of its Travel VirtualPay corporate travel tool, which replaces manual central billing of hotel charges with single-use virtual account numbers for employees who travel. Travel VirtualPay enables corporate travel expense managers to request a virtual account for each corporate hotel booking, consolidating all associated transaction data into one location so travel expenses may be tracked easily from the time of reservation through final settlement and audit, according to U.S. Bank. Additionally, the process cuts paperwork and reduces potential errors and labor costs.