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Major Bank Licenses Mitek's Mobile Deposit and Mobile Photo Bill Pay

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SAN DIEGO, March 27, 2014 (GLOBE NEWSWIRE) -- Mitek (Nasdaq:MITK), the leading innovator in mobile imaging for financial transactions, today announced that another top 30 U.S. bank has licensed Mobile Deposit® and Mobile Photo Bill Pay®.

The deal closed during Mitek's second fiscal quarter and is scheduled to be available to this bank's customers later this year. Mitek's Mobile Deposit is currently used by tens of millions of consumers and implemented by all top ten banks in the U.S.

"According to recent research by Alix Partners, 28% of smartphone owners are willing to switch primary banks to get access to Mobile Photo Bill Pay," said James B. DeBello, president and CEO of Mitek. "This further expands adoption of both Mobile Photo Bill Pay and Mobile Deposit in the top 30 U.S. banks."

About Mitek

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 MITK-F

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CONTACT: Mitek Contact: Katherine Verducci Mix Public Relations pr@mix-pr.com

Source:Mitek Systems