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Mitek Receives $1.4 Million Reorder From Global Banking and Payment Technology Provider

SAN DIEGO, Sept. 21, 2015 (GLOBE NEWSWIRE) -- Mitek (NASDAQ:MITK) (www.miteksystems.com), the leading innovator of mobile capture and identity solutions, today announced that it has received a $1.4 million reorder for Mobile Deposit® transactions from a global banking and payment technology provider representing the third consecutive annual reorder from this partner. This agreement closed in Mitek's fiscal 2015 fourth quarter and consisted of $1.2 million in software license revenue and $200,000 in first year maintenance revenue.

"This latest reorder reflects this partner's ongoing commitment to Mitek and our ability to deliver the highest standard in usability, scalability and security to insure a quality mobile deposit experience," said James B. DeBello, president & CEO, Mitek. "This partner supplies Mobile Deposit to some of the country's largest banks and prepaid card providers. Such loyalty from this and other partners has earned Mitek a 100% Mobile Deposit partner retention rate and enabled us to retain a nearly 100% market share in the Mobile Deposit market."

Mobile Deposit is licensed by more than 4,100 banks and loved by over 50 million users.

About Mitek

Headquartered in San Diego, CA, Mitek (NASDAQ:MITK) is the leading innovator of mobile capture and identity solutions for customer acquisition. Mitek's mobile photo technology enables consumers to use the Camera as a Keyboard™ to reduce friction for mobile check deposit, account opening, insurance quoting, payments, and ID document authentication. This innovative mobile technology is licensed by more than 4,100 organizations and used by tens of millions of consumers. In June of 2015, Mitek acquired IDchecker, a global provider of cloud based identity document verification and facial recognition solutions. The acquisition broadens Mitek's global presence, expands document coverage to more than 3,500 document types and adds international customers in payments, financial services and information services. www.miteksystems.com

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CONTACT: Mitek Contact: Ann Reichert Senior Director of Marketing pr@miteksystems.com Investor Contacts: Todd Kehrli or Jim Byers MKR Group, Inc. mitk@mkr-group.com

Source:Mitek Systems