US financial technology company Fiserv has launched Mobile Source Capture, a remote deposit cheque capture service based on Mobile Deposit technology powered by Mitek Systems, developer of image analytics and mobile document capture applications for smartphones.

Fiserv’s Mobile Source Capture will be available as a downloadable application for camera-equipped smartphones. Users will be able to perform cheque deposit transactions by taking a picture of the front and back of a check and deposit the item electronically to the financial institution for processing, clearing, settlement and posting.

Fiserv’s launching initiative builds on current market adoption tendencies. According to a survey conducted by research firm Mercatus, 59 percent of today's mobile banking customers are willing to adopt mobile remote deposit capture if the technology is offered by their banks.

The mobile deposit capture service will be integrated with Fiserv account processing platform during 2010 and in 2011.