Top Image Systems (TIS), a provider of image processing solutions, announced today that it had scored a software-as-a-service contract with a Top 5 bank in the U.S., the company announced today.

The win for TIS — which appears to be a significant one — represents further erosion of market leader Mitek’s position in the imaging space, which plays an important and growing role in mobile banking. Mitek, TIS, and Kofax compete to provide remote deposit capture of checks and image-based data input, which can speed customer onboarding for new accounts, input information into bill pay systems, and even transfer balances to new credit cards.

From the press release:

The deal provides TIS both high visibility into revenues as well as a stable, consistent source of revenues against the bank’s steady multi-year stream of transactions.

TIS said the bank, which it did not name, decided to deploy TIS’ cloud-based solution because of the solution’s superior technology and functionality, as well as to benefit from what TIS called “cloud-based economics.” Other key factors in the choice included TIS’s security and capacity for compliance, as well as its “many years’ experience integrating with leading banking business processing applications, including the system which is implemented at this bank.”

Data input is a familiar mobile pain point, and photos of drivers’ licenses and other government-issued documents reduces typing errors and saves time for customers. Image banking leverages the powerful photo capabilities of smartphones as well as customers’ — particularly younger customers’ — comfort with using their smartphone cameras for just about everything. The use of selfies for authentication is another growing area of smartphone camera use in financial services.

Top Image Systems is based in Tel Aviv, Israel, and Plano, Texas. A major reseller of its technology is Fiserv, Inc., which showed off a TIS solution implemented at Bank of the West in February.