Mobile Photo Bill Pay(TM) App Wins 'Best of Show' at Finovate
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Mitek Systems, Inc.
10070 Carroll Canyon Rd.
San Diego, CA, 92131
Press release date: May 16, 2011
Mitek Systems Technology Innovation Enables Bill Payments via Smartphone Cameras
SAN DIEGO - Mitek Systems, Inc. (OTC: MITK, www.miteksystems.com), the leader in mobile-imaging applications using smartphone cameras for check deposits, bill payments and ACH enrollments, said today its Mobile Photo Bill Pay(TM) application was chosen as a "Best of Show" application from among demonstrations of technology innovations for the financial services industry at the Finovate Spring 2011 conference last week in San Francisco.
"Jim Bruene has made Finovate the premier gathering for showcasing technology advances in financial services, as the number of presenting companies indicates. We're thrilled that our Mobile Photo Bill Pay application has been chosen as one of this show's top breakthroughs," said Mitek President and CEO James B. DeBello.
Mitek's Mobile Photo Bill Pay enables users to pay their bills from anywhere at any time, simply by snapping photos of paper bills with their camera-equipped iPhone or Google Android smartphones. The technology allows customers to "Point, Shoot and Pay" any bills, regardless of format, via their mobile-banking accounts.
To pay bills, users initiate mobile-banking sessions with their financial institutions on their smartphones, then align their bills within the cameras' viewfinders, snap photos of their bills and, responding to the application's prompt, confirm details of their transactions. Mitek's patented image-analysis and data-extraction processes capture and relay all the data required for the financial institutions to pay bills electronically.
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: Bud Leedom Finance Director 858.503.7810 x309
SOURCE Mitek Systems, Inc.
Web Site: http://www.miteksystems.com