The Bancorp Bank to Expand Remote Deposit Gathering Capabilities for Its Clients Powered by Mitek's Mobile Deposit(R) Application

SAN DIEGO, April 20 /PRNewswire-FirstCall/ -- Mitek Systems Inc. (OTC Bulletin Board: MITK), an innovator of advanced-image analytics and mobile-document-capture applications for smartphones, today announced that The Bancorp Bank ("Bancorp"), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), will expand its remote deposit gathering capabilities by enabling customers to deposit personal and business checks via their smartphone cameras in an easy and secure way utilizing Mitek's Mobile Deposit® application.

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"With our heritage as a branchless institution, we have specialized in extending advanced payment and acquisition processes to our clients," said Peter Chiccino, CIO/EVP at The Bancorp Bank. "We are constantly looking for ways to expand the way our clients make deposits, and mobile deposit processing is the next step in this expansion.  Our newly formed relationship with Mitek is ideal for supporting the mobile deposit needs of our clients."

The mobile deposit application is designed to be secure and simple to use. When depositing a check, the user initiates a mobile-banking session, keys in the deposit amount and snaps a photo of the front and back of the check. The software captures the check image and prepares it for transmission to the Bancorp. Before transmitting the check image, Mitek's IMagePROVE™ technology automatically corrects image distortions and skewing and confirms that it meets accepted Check 21 image-quality standards.

Mitek's patent-pending Mobile Deposit supports the payments industry standards for Remote Deposit Capture (RDC) and is available on the iPhone™ and selected BlackBerry™ and Windows Mobile™ handsets.

"We couldn't be more pleased that a tech-savvy organization like The Bancorp Bank has chosen Mobile Deposit as part of its strategy to offer its customers access to their funds more quickly and with an extra level of convenience," said Jim DeBello, president and CEO of Mitek Systems, Inc.

About Mitek Systems

Mitek Systems (OTC: MITK.OB; www.miteksystems.com) is an innovator of advanced image analytics and mobile document capture applications for smartphones.  For more than 20  years, the Company has developed a comprehensive suite of intelligent character recognition software used to test, clean, authenticate and extract data from imaged checks, documents and objects, and its software is used to process more than 10 billion items per year.  For more information about Mitek Systems, contact the Company at 858-503-7810 or visit www.miteksystems.com.

About Bancorp

The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc. (NASDAQ: TBBK) is an FDIC-insured commercial bank that delivers a full array of financial services and products both directly and through private-label affinity programs nationwide.  The Bancorp Bank's regional community bank division serves the needs of small and mid-size businesses and their principals in the Philadelphia-Wilmington region. For more information about Bancorp please visit www.thebancorp.com.

The Bancorp Bank is headquartered in Wilmington, Delaware, with offices in Philadelphia, Exton and Warminster, Pa.; Crofton, Md.; Orlando, Fla.; and Sioux Falls, S.D. The Bancorp Bank had $2 billion of total assets as of December 31, 2009.

SOURCE Mitek Systems, Inc.

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