Mitek Systems Receives Inaugural BAI MobileLink Award

SAN DIEGO, Oct. 20 /PRNewswire/ -- Mitek Systems, Inc. (OTC Bulletin Board: MITK) (www.miteksystems.com) today won top honor as Mobile Pace Setter in BAI's first-ever MobileLink Award for mobile accomplishments in retail banking.  BAI is the nation's most influential banking industry association.  

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Mitek was cited for its patented mobile remote deposit capture (RDC) application -- Mobile Deposit® -- which allows users of camera-equipped smartphones to deposit checks into their financial institutions or cash-management accounts anywhere or anytime simply by taking photos of their checks.  

Mitek and USAA Federal Savings Bank were selected as inaugural winners of the MobileLink Award during this year's BAI Retail Delivery Conference & Expo in Las Vegas, the largest annual gathering of the banking industry.  USAA won as the financial institution in the Mobile Leadership category, as BAI recognized the two companies for their innovation in mobile RDC.  

BAI's announcement of the MobileLink Awards can be seen at http://www.businesswire.com/news/home/20101020005249/en/USAA-Bank-Mitek-Systems-Earn-Top-Honors.

Our technology is putting convenience back into checks and engaging the mobile banker, the most profitable market segment for banks," said Mitek CEO James DeBello. "The BAI award noting our innovation leadership with Mobile Deposit amplifies the success we've had in attracting all the leading technology integrators, applications services providers and key partners in financial services."

Mobile Deposit is a highly secure, accurate and easy-to-use application that allows users to initiate mobile-deposit sessions, key in deposit amounts and simply snap photos of both sides of the checks with their smartphone cameras.  The Mitek software captures the check images and prepares them for transmission to the financial institution's receiving RDC solution.  

Mitek introduced its newest mobile application, Mobile Photo Bill Pay™ during the BAI Retail Delivery conference.  The new app exploits Mitek's core competency in image analysis, data extraction and processing to give users a new measure of convenience and security in paying their bills electronically via their smartphone cameras.

"Our goal is to help banks, credit unions and other financial institutions serve the booming smartphone market with the best way to securely deposit a check, pay a bill and take advantage of future innovative conveniences using our mobile imaging platform," DeBello said.

Video demonstrations of Mobile Deposit and Mobile Photo Bill Pay may be viewed at http://www.miteksystems.com/.

The BAI MobileLink Awards honor significant achievements in mobile banking. This is the only award program of its kind to specifically recognize mobile accomplishments in the financial services industry. The Mobile Pace Setter category honors the contribution that mobile manufacturers, suppliers and operators make to increase mobile usage, further mobile innovation and expand business opportunities.

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 is currently used by all 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.

SOURCE Mitek Systems, Inc.