Skyline's DirectFED Payment Solutions Announces Partnership With Mitek Systems Inc. to Provide Mobile Deposit® Application for Immediate Banking

Convenient Smartphone Application Serves As An Ideal Payment Solution For Remote Deposit Capture Customers

Jun 15, 2010, 09:05 ET from Skyline's DirectFED Payment Solutions

SAN DIEGO and LOS ANGELES, June 15 /PRNewswire/ -- Skyline's DirectFED Payment Solutions, the first business-centric processor performing Remote Deposit Capture (RDC) for businesses has teamed up with Mitek Systems Inc. (OTC Bulletin Board: MITK), an innovator of image analytics and mobile document capture applications, to offer DirectFED Mobile™ powered by Mitek. This new product offering provides a fast, secure and most-importantly easy form of depositing checks in the bank by simply taking a photo of the check with an iPhone™, BlackBerry™ or other smartphone device.  

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"By partnering with Mitek Systems, institutions that use Skyline's DirectFED's RDC service can now offer their customers the ability to avoid any trip to the bank by taking a snapshot of the front and back of the check," said Shai Z. Stern who serves as Co-Chairman of Skyline's DirectFED Payment Solutions as well as Co-Chairman of EDGAR filings and print publishing company Vintage Filings and corporate compliance company Vcorp Services. "This new application is ideal for the busy professional, business owner and agents on the road who need the funds to be processed as soon as possible; it is a service that many community banks and credit unions across the country are looking to offer and one that Skyline's DirectFED is proud to add to our product line up."

"As electronic banking continues to improve, depositing physical checks becomes more and more of a hassle, and remote deposit capture has become the solution," said Stern. "We are always dedicated to providing the best technology to our users and DirectFED Mobile powered by Mitek will allow all of Skyline's DirectFED's credit union customers and community banks the ability to compete with even the largest institutions by offering a simple and in-demand service to their busy customers."

DirectFED Mobile powered by Mitek is designed to be secure and simple to use; when depositing a check, the user initiates a mobile-deposit session, keys in the deposit amount and snaps a photo of the front and back of the check with their smartphone camera.  Mitek's IMagePROVE™ technology then formats the image, automatically corrects any image distortions or skewing and prepares it for transmission. With Skyline's DirectFED's accuracy in RDC and Mitek's IMagePROVE™ technology that also corrects image distortions, both services go above and beyond to meet Check 21 image-quality standards.

"The alliance with Skyline's DirectFED Payment Solutions extends our expertise and 'Gold Standard' leadership in mobile deposit," said James DeBello, CEO of Mitek Systems Inc. "We will be able to bring mobile merchant capture to a broader range of industries with Skyline's DirectFED's remote deposit capture users."

Stern added, "This is another example of how a long distance relationship can work, allowing account holders to retain accounts with their financial institution without the hassle involved in making physical deposits."

Mitek's Mobile Deposit supports the payments industry standards for RDC and extends mobile deposit capabilities to users who use smartphones equipped with a camera. It is available on the iPhone™ and selected Blackberry™ and WindowsMobile™ handsets.

About Mitek Systems

Mitek Systems (OTC Bulletin Board: MITK), 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.

About Skyline's DirectFED Payment Solutions      

Founded in 2004, Skyline's DirectFED Payment Solutions is the first business-centric processor performing Remote Deposit Capture for a wide range of companies and organizations. Skyline's DirectFED was created to take advantage of the benefits created by Congress passing The Check Clearing for the 21st Century Act ("Check 21"). Our goals for our customers are to optimize float to their advantage, reduce bank fees and provide significant back-office savings by using the new laws and technology to their advantage. Our patented suite of products provides unique solutions for businesses that range from multinationals to small enterprises, not-for-profits, municipalities and all types of financial institutions. For more information on Skyline's DirectFED, visit www.directfed.com.

SOURCE Skyline's DirectFED Payment Solutions



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