Software processes signatures on any document.
Press Release Summary:
ImageNet Signatures(TM) software developers toolkit enables applications to detect fraudulent signatures on checks, voter ballots, account applications, and other documents which legally require signatures. Image analytics encode various characteristics of each signature and system accommodates natural variations in signatures by encoding multiple sample signatures. Target signature can be captured from digital pad, PDA, tablet PCs, or scanned paper document.
Original Press Release:
Mitek's ImageNet Signatures(TM) Locates, Extracts, & Verifies Signatures in Any Document
Patented Encoding Technology More Securely And Accurately Processes Signatures
SAN DIEGO, Oct 18 / / -- Mitek Systems, Inc., (BULLETIN BOARD: MITK) , a global leader of Image Analytics and Pattern Recognition software, has shipped a new Software Developer's Toolkit (SDK) which enables applications to detect fraudulent signatures on checks, voter ballots, account applications and other documents which legally require signatures.
The signature validation technology has earned four U.S. patents for its unique method of assigning a numeric score to each reviewed signature. The methodology avoids privacy and security concerns by eliminating the storage or transmission of actual signature images. The approach also increases accuracy and requires less storage and network resources, since a signature code is smaller than an imaged signature.
ImageNet Signatures (TM) will be demonstrated in booth #106 during BAI's Combating Payments and Check Fraud Conference at Loew's Coronado Bay Resort in San Diego Oct. 22-24. For more information, visit www.bai.org.
Separately, the company announced ImageNet Payments Remote Remit(TM), which automatically identifies and dynamically extracts data from checks, coupons or any other related documents. The company announced the first ImageNet module, ImageNet Payments, in August. Modules for image enhancement and form recognition, data capture, and fraud detection will be shipped during the remainder of the calendar year.
How It Works
ImageNet Signatures encodes each target signature and compares it with encoded reference examples, rather than comparing actual signature images which may compromise privacy. Mitek's robust image analytics encode many different characteristics of each signature. The system accommodates natural variations in signatures by encoding multiple sample signatures.
The target signature can be captured from a digital pad, PDA, tablet PCs or a scanned paper document.
"Concerns about voter fraud and other forms of identity theft have made signature verification more important than ever before," says Mitek CEO Jim DeBello. "ImageNet Signature's new signature encoding approach was designed to prevent signature images from being stolen by hackers as well as traditional signature forgery."
Web-Enabled Platform Facilitates Rapid Development and Deployment.
The toolkit is the latest module in the company's new ImageNet development platform. ImageNet employs a new Service-Oriented Architecture (SOA) which enables imaging application vendors and integrators to more quickly and easily integrate the industry's most accurate and comprehensive line of document identification, recognition and fraud-detection technologies. The new platform's Web-enabled architecture facilitates integration in distributed applications running browser, rich-client or mixed environments.
Features and Benefits
o Significantly reduces cost of manual or semi-automatic validation.
o Accelerates business and government processes.
o Helps meet compliance and privacy standards by encoding the signatures.
o Accommodates real-world variations in signatures.
o Numeric encoding of authentic signature increases network security and
reduces bandwidth requirements.
o Works with signature images from any source: electronic signature pads,
tablet PCs, PDAs, scanned paper.
Applications
o Appraisal and loan documents
o Checks
o Medical releases
o Compliance forms
o Proof of delivery receipts
o Government-issued IDs
o Child custody
About Mitek Systems, Inc.
Mitek Systems (OTC Bulletin Board: MITK; www.miteksystems.com) is a global leader in Image Analytics and pattern recognition technologies used by financial institutions, life science companies, government agencies and system integrators. The Company develops and markets the most comprehensive suite of intelligent character recognition software used to test, clean, read and authenticate imaged documents and objects. Sold to partners and directly to end users, the Company's software is used in the processing of over 8 billion transactions per year. For more information about Mitek Systems, contact the company at 8911 Balboa Ave., Suite B, San Diego, CA 92123; 858-503-7810 or visit www.miteksystems.com.
Source: Mitek Systems, Inc.
CONTACT: Tom Rossi of Mitek Systems, Inc., +1-858-503-7810, ext. 308, trossi@miteksystems.com
Web site: www.miteksystems.com/
