“We found that millennials love the convenience of taking a picture for data capture and they want to be doing more of it,” James B. DeBello, president & CEO, Mitek said. “Businesses need to take notice and add mobile capture to their apps, because just being mobile isn't enough anymore.”

Other key findings from the survey include:

• Mobile banking was the gateway that introduced millennials to mobile capture. Interestingly, 68% received their first exposure with mobile check deposit. The more money millennials make, the more they want mobile capture.
• Millennials want to digitize all commerce through their mobile cameras. In fact, 68% said that they would rather always use mobile capture instead of manually typing information on their smartphone, and 28% want to enroll for everything from a new credit card to a gym membership by snapping a picture of their driver's license.
• Mobile means money for businesses racing to capture millennials. Eighty-six percent of respondents made purchases and conduct transactions from their mobile phones, with 11% doing so daily; 42% made a decision on where to spend their money, or switched companies, based on what the organization allowed users to accomplish with a mobile device.
• Fifty-four percent said that security trumps convenience. Top obstacles stopping millennials from using their smartphones were concerns about data security (53%) and concerns about identity fraud (52%).

“What started with the selfie has evolved to commerce: From banking, to shopping and to peer-topeer lending,” the research noted.