SAN DIEGO, Nov. 25, 2013 (GLOBE NEWSWIRE) -- Mitek (Nasdaq:MITK) (www.miteksystems.com), the leading innovator of mobile imaging for financial transactions, was named one of the Top Innovators of 2013 by American Banker for having the technology behind "the next killer app for banking", Photo Capture Bill Pay.
Mitek is the inventor and patent holder behind Mobile Photo Bill Pay®. This unique offering was first adopted by First Financial and U.S. Bank in early 2013, with subsequent rapid adoption throughout 2013. Mobile Photo Bill Pay® is now licensed by 14 financial institutions.
The convenience of photo bill pay beats both paper checks and existing online bill-pay services, where the setup requires cumbersome data entry. "This is a way to take that pain out," says Mary Monahan of Javelin Strategy & Research. "You can take a picture and be done with it."
Mitek's Mobile Photo Bill Pay® is part of a suite of solutions for financial services that includes Mobile Deposit®, Mobile Photo Balance Transfer™, and Mobile Photo Account Opening™. All of Mitek's solutions leverage Mitek's MiSnap™ touch-free capture technology, which automates the image capture process – eliminating user-error and decreasing transaction processing time.
Headquartered in San Diego, CA, Mitek (Nasdaq:MITK) is the leading innovator of mobile imaging for financial transactions. Mitek's patented mobile photo technology automatically captures images of personal and financial documents and then extracts relevant data. This enables consumers to use the Camera as a Keyboard™ to reduce friction for mobile check deposit, account opening, bill payment, insurance quoting, and many other use cases. This innovative technology is licensed by more than 1,400 organizations and used by tens of millions of consumers enabling increased customer acquisition, retention and operational efficiency. www.miteksystems.com.
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