- Mitek is prepared to invest up to $1 million in applications using Mitek's technology
- Developer program extends the reach of Mitek's mobile imaging technology to many new vertical industries
- Developers can now test 1,000 transactions for free
SAN DIEGO, Feb. 25, 2014 (GLOBE NEWSWIRE) -- Mitek (Nasdaq:MITK) today announced a developer program which enables developers to use the same technology already used by 20 million consumers. The program will extend use of Mitek's Mobile Imaging Platform™ to developers interested in creating new mobile applications using the smartphone or tablet camera. Mitek is also prepared to make multiple seed investments totaling up to $1M in developers who can identify substantial market opportunities using the mobile imaging platform.
Developers are able to create apps that capture information from checks, drivers licenses, bill coupons, vehicle identification numbers and any information printed within four corners.
In the coming months, Mitek will also make its patented signature validation API available to developers in the program.
Developers at a recent hackathon created impressive apps in 48 hours including:
- eCheque - take a photo of a check to generate a unique digital signature enabling two factor authentication to reduce fraud
- CalCount - take a photo of a nutrition label on food packaging to pre populate calories in a calorie counting app
- HaullerMe – take a photo of a driver license to facilitate moving, hauling, and delivery services app
"We see tens of thousands of creative uses of Mitek technology. Seeing prototypes built in such a short time span at the hackathon and by developers testing the program gives us confidence that Mitek's Developer Program will create a whole new class of user friendly mobile apps," said Mike Strange, Mitek's CTO.
Developers can now test 1,000 transactions for free. Apply and download mobile capture SDK and API at https://developers.miteksystems.com.
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 1,700 organizations and used by tens of millions of consumers enabling increased customer acquisition, retention and operational efficiency. www.miteksystems.com
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements contained herein. These factors include risks related to technological changes, new product introductions, continued acceptance of Mitek Systems products and dependence on intellectual property rights. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Mitek Systems' filings with the United States Securities and Exchange Commission (available at www.sec.gov) and other regulatory agencies.
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