SAN DIEGO, Jan. 18, 2011 /PRNewswire-FirstCall/ -- Mitek Systems, Inc. (OTC Bulletin Board: MITK) (www.miteksystems.com), an innovator of mobile-imaging applications and solutions for financial services and other industries, said today it is seeing a rapid upswing in new deployments of its flagship Mobile Deposit® application by banks, credit unions and other financial services institutions.
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President and CEO James B. DeBello said that during the quarter ending December 31, 2010, at least 10 well-known financial institutions - including, three of the top 10 retail banks based in the United States and one of the top 30 credit unions - have signed agreements to deploy the Mobile Deposit solution to their consumers, often under their own "white label" brands. Banks deploying Mobile Deposit represent all asset sizes, and the solution also is being deployed by a brokerage firm and PayPal.
DeBello said the increasing deployments are a harbinger of another successful year for Mitek as the Company enjoys further adoption of Mobile Deposit and strives to broaden its offerings enabled by its core expertise in mobile image-processing technology, including its most recently announced product Mobile Photo Bill Pay™.
Mobile Deposit is the patented application that allows users of the world's favorite smart phones - including iPhone, Android and BlackBerry mobile devices - to deposit funds into online accounts simply by snapping photos of their checks using their smart phone cameras anywhere, any time. The solution is highly secure and convenient in giving consumers an alternative to visiting bank branches or ATMs to make deposits.
The Mobile Deposit solution is currently sold to banks and credit unions by all major technology solutions integrators and applications services providers that deliver bundled technology to the financial services industry, including Fiserv, FIS, NCR, Jack Henry and Associates, BankServ, Wausau Financial Systems, J&B Software, RDM, Bluepoint Solutions, and Cachet Financial.
"The success we had last year in racking up distribution partnerships for Mobile Deposit gave us good reason to call it the 'Gold Standard' in mobile remote deposit capture," said DeBello. "It's tremendously satisfying that our strategic vision for Mobile Deposit is now being realized, and we've introduced Mobile Photo Bill Pay as the next major mobile image-processing innovation from Mitek designed to deliver a huge convenience to consumers."
About Mitek Systems
For more than 20 years, Mitek Systems (OTC: MITK.OB) has provided financial institutions with advanced imaging and analytics software to authenticate and extract data from imaged checks and other financial documents. Mitek's patented technology has created the Gold Standard for Mobile Check Deposit and is currently used by leading financial organizations in the United States to process more than 10 billion items per year.
Today, Mitek is applying its patented technology and extensive expertise in image correction, optical character recognition and intelligent data extraction to mobile devices. Using Mitek Mobile Apps, smartphone users can now deposit checks, pay bills, save receipts and fax documents while on the road or sitting at a desk -- eliminating trips to the bank, Post Office and file cabinet. Simply take a picture of the document and Mitek does the rest -- correcting image distortion, extracting relevant data, routing images to their desired location, and processing transactions through users' financial institutions.
For more information about Mitek Systems, contact the company at 858-503-7810 or visit www.miteksystems.com.
Contact: |
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Jim Byrnes, for Mitek Systems |
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+1 610-248-5053 |
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SOURCE Mitek Systems, Inc.
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