Press Release Summary:
Able to be embedded in software and hardware, SignProtect(TM) enables any written signature that is captured in paper or digital process to be verified without need for database. Authentic information can be encoded securely on document or within device used to capture signature. Product can be used to safeguard against identity theft by encoding driver's licenses with signature codes, and to eliminate mortgage fraud by providing lenders with secure appraisal documents.
Original Press Release:
Mitek Announces New SignProtect(TM) Product
Extending Self Authenticating Signature Technology to New Markets
SAN DIEGO, May 15 -- Mitek Systems, Inc. (BULLETIN BOARD: MITK) (www.miteksystems.com), a leading provider of Image Analytics and intelligent character recognition software, today announced the release of SignProtect(TM), a new self-authenticating signature validation software product. SignProtect(TM) enables any written signature that is captured in a paper or digital process to be verified without the need for a database -- authentic information can be encoded securely on a document or within a device used to capture the signature.
A person's signature remains the leading way in which an individual is identified and tenures approval for exchange of goods and services. With this product, Mitek has overcome the challenges of variability of people's signatures and the technical hurdles of providing immediate verification of authenticity. This innovation makes the acceptance of signatures, and the forms to which they are assigned, more secure in light of ever increasing threats of forgery and identity theft.
Mitek has a rich heritage of marketing its products through channel partners to specific vertical markets, and is in discussions with industry leading vendors to deploy SignProtect(TM) in a variety of innovative applications. Among the applications under consideration are safeguarding against identity theft by encoding driver's licenses with signature codes, combating mortgage fraud by providing lenders with secure appraisal documents, and improving compliance processes for prescription drug sampling programs.
SignProtect(TM) is an advanced software development toolkit that can be embedded into both software and hardware, with far reaching applicability. The technology is unique in two key aspects. The application can be used to verify signatures placed on documents or similarly those that are captured on electronic devises, such as signature pads, PDAs or Tablet PCs, and it has no dependency on proprietary systems. Secondly, the patent pending encoding paradigm enables authentic signature information to be inscribed on the document of origin, which eliminates the reliance on connectivity to systems to authenticate the signature. The foundation for this technology was delivered as part of a self-authenticating check solution co-developed and marketing by the John H. Harland Company (NYSE:JH). Now Mitek has extended the technology to reach out to new markets.
Mitek will be unveiling SignProtect(TM) to the public at this year's Association of Image and Information Manager (AIIM) conference to be held in Philadelphia, May 16th through 18th, located in Booth #1348.
About Mitek Systems
Mitek Systems (BULLETIN BOARD: MITK) (www.miteksystems.com) is a leading developer of Image Analytics software used by multiple industries to process checks, detect fraud and improve customer service. The Company also develops and markets the most comprehensive suite of Intelligent Character Recognition software engines used to test, clean, read and authenticate imaged documents. 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 Avenue, Suite B, San Diego, CA 92123; 858-503-7810 or visit www.miteksystems.com.