Conestoga Bank Signs Deal To Use Mobile Deposit(R)

J&B Software Provides App as Part of Turnkey Mobile-Banking Solution

Jun 07, 2010, 08:00 ET from Mitek Systems, Inc.

SAN DIEGO, June 7 /PRNewswire-FirstCall/ -- Mitek Systems, Inc. (OTC Bulletin Board: MITK; www.miteksystems.com), an innovator of advanced-image analytics and mobile-document-capture applications for smartphones, announced today that its technology-services partner J&B Software Inc. has signed an agreement with Conestoga Bank. This agreement will allow Conestoga Bank customers to deposit checks via their camera-equipped smartphones, utilizing J&B's mobile software solution and featuring Mitek's Mobile Deposit® functionality.

(Logo:  http://photos.prnewswire.com/prnh/20100224/MITEKLOGO)

J&B Software, a premier provider of enterprise-wide transaction and payment solutions, introduced its new software-as-a-service (SaaS) mobile deposit solution in March. J&B's mobile deposit solution combines Mitek's Mobile Deposit, the industry's leading mobile remote data capture (RDC) application, with J&B's own robust workflow, risk management and Check 21 clearing solutions. The solution makes it faster and cheaper for users to make remote check deposits using their mobile smartphones.

J&B's SaaS delivery model eliminates barriers to entry, allowing organizations to quickly adopt mobile deposit with minimal up-front cost and setup requirements. J&B's mobile deposit offering allows banks, brokerages, retailers, insurers, transportation companies, consumers and others to begin conveniently and securely depositing paper checks from mobile phones much more rapidly than an on-premise solution. It dramatically lowers implementation and overhead costs while accelerating deployment, thereby extending mobile deposit to millions of new users.

Conestoga Bank is a wholly-owned subsidiary of Conestoga Bancorp headquartered in Chester Springs, Pa. Conestoga Bank is a full-service financial institution, with branches in Philadelphia and the surrounding counties. The solution is expected to be available to Conestoga Bank customers this Fall.

Using Mitek's Mobile Deposit is simple. When depositing checks, consumers initiate their mobile-banking sessions, key in their deposit amounts and take photos of both the fronts and backs of the checks with their mobile-phone cameras. The Mitek software captures the check images and prepares them for transmission to the financial institution's RDC receiving solution.

Before transmitting the check images, Mitek's IMagePROVE™ technology formats the images, automatically corrects any image distortions or skewing, and confirms that the images meet accepted image-quality standards.

"We're very pleased that Conestoga Bank has chosen the J&B SaaS solution, featuring Mitek's Mobile Deposit, as its mobile RDC solution," said Mitek CEO Jim DeBello. "We've overcome the challenge of making the technology easy to use while keeping data secure. This is what makes it the Gold Standard for mobile check deposits."

About Conestoga Bank

Conestoga Bank is a wholly-owned subsidiary of Conestoga Bancorp headquartered in Chester Springs, Pa. Conestoga Bank is a full-service financial institution, with branches in Philadelphia and the surrounding counties. For more information, please visit www.conestogabank.com.

About J&B Software

J&B Software provides payment processing, imaging, electronic content management and capture solutions to businesses worldwide. The company works with over 160 industry leading organizations including regional and money center banks, insurance companies, mutual funds, credit card processors, brokerage, telecom, utilities, government, non-profit and commercial organizations. J&B Software's library of core applications and product modules utilize open architecture software and hardware platforms. The company's extensive application suite includes solutions for retail/wholesale lockbox, remote image capture, ARC/Check 21 electronic clearing, intelligent document recognition, healthcare EOB processing, full-page document management, transaction archive and online customer query. J&B Software is a winner of the TAWPI Hall of Fame Award for technology innovation and excellence and its 400+ employees are fully committed to improving the operational effectiveness and profitability our clients.

J&B Software is a subsidiary of 3i Infotech. For more information, visit www.JBSoftware.com or call 215-641-1500.

About Mitek Systems

Mitek Systems (OTC: MITK.OB), an innovator of advanced image analytics and mobile document capture applications for smartphones, has created the Gold Standard for Mobile Check Deposit. 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.

Contacts:

Mitek Systems, Inc.

J&B Software

Sue Huss

Ted Rossman

sue.huss@comunicano.com

trossman@newventurecom.com

619-379-4396

914-432-7083

SOURCE Mitek Systems, Inc.



RELATED LINKS

http://www.miteksystems.com


http://www.JBSoftware.com