Gartner Report Highlights Benefits of Mobile Imaging Solutions for Banks

SAN DIEGO, Oct. 12, 2015 (GLOBE NEWSWIRE) — Mitek (NASDAQ:MITK) (www.miteksystems.com), a leading innovator of mobile capture and identity solutions, today announced that Gartner, the world’s leading information technology research and advisory company, has released an IT Market Clock report on Mobile Imaging for Banks, and the benefits associated with transitioning many back-office banking operations to a mobile self-service environment using their customer’s mobile devices. The report is dated August 31, 2015 and authored by research director Stessa B. Cohen. 

The report examines Mobile Remote Deposit Capture (RDC) for retail and commercial markets as well as a broad range of additional mobile imaging use cases, including new account opening and Know Your Customer (KYC) authentication. All of the cited use cases involve capturing paper-based data with the camera of a smartphone or tablet to bring that data into an electronic transactional workflow in order to reduce costs associated with these customer interactions.

“This is Gartner’s first IT Market Clock report on mobile imaging and highlights the enormous value mobile imaging can bring to banks by enabling them to support many back-office workflows and business processes using their own customer’s mobile devices,” said James B. DeBello, president and CEO of Mitek. “The quick adoption of mobile check deposit by these same retail banking customers highlights the readiness of customers to use their mobile devices in more of a self-service manner. Beyond improving operational efficiencies and reducing costs, mobile imaging facilitates the digital transformation of existing back-end processes and transactions and underscores our excitement about the growing market opportunity for our new solutions.”

Mitek offers multiple mobile imaging solutions to support the transition of many back-office banking operations to mobile self-service. Mitek’s award winning Photo Fill™ offers advanced mobile imaging for customer acquisition and other workflows with its intuitive use of the Camera as a Keyboard™. Photo Verify™ enables banks and other organizations to meet KYC requirements using mobile imaging for ID document authentication. Both solutions offer the same popular user experience as Mobile Deposit, the dominant Mitek check deposit solution, licensed by more than 4,100 banks and loved by more than 50 million users.

About Mitek

Headquartered in San Diego, CA, Mitek (NASDAQ:MITK) is the leading innovator of mobile capture and identity solutions for customer acquisition. Mitek’s mobile photo technology enables consumers to use the Camera as a Keyboard™ to reduce friction for mobile check deposit, account opening, insurance quoting, payments, and ID document authentication. This innovative mobile technology is licensed by more than 4,100 organizations and used by tens of millions of consumers. In June of 2015, Mitek acquired IDchecker, a global provider of cloud based identity document verification and facial recognition solutions. The acquisition broadens Mitek’s global presence, expands document coverage to more than 3,500 document types and adds international customers in payments, financial services and information services. www.miteksystems.com

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CONTACT: Mitek Contact:
Ann Reichert
Senior Director of Marketing
pr@miteksystems.com

Investor Contacts:
Todd Kehrli or Jim Byers
MKR Group, Inc.
mitk@mkr-group.com

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