×

Mitek Receives Mobile Deposit Reorders Totaling $1.7 Million Highlighting Growing Adoption in the U.S. and Canada

SAN DIEGO, Oct. 06, 2015 (GLOBE NEWSWIRE) -- Mitek (NASDAQ:MITK) (www.miteksystems.com), a leading innovator of mobile capture and identity solutions, today announced that it has received reorders from two Mobile Deposit® partners, one in the US and one in Canada, totaling $1.7 million. These agreements closed in Mitek’s fiscal 2015 fourth quarter and consisted of $1.4 million in software license revenue and $0.3 million in annual maintenance revenue.

“These reorders reflect the high quality, easy-to-use Mobile Deposit experience that Mitek is delivering to both U.S and Canadian banking institutions,” said James B. DeBello, president & CEO, Mitek. “We have seen rapid growth in adoption of our Mobile Deposit solution in Canada since it was released by Canadian banks in 2013. In fact, from June 2014 to June 2015 Canadian adoption grew over 300%. As a global leader in mobile capture and identity solutions and the leading mobile deposit solution in the U.S. banking industry, we are focused on the significant opportunity for growth in both the U.S. and internationally as consumers increasingly adopt the mobile self-service model.”

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 a 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

Follow Mitek on LinkedIn: http://www.linkedin.com/company/mitek-systems-inc.
Follow Mitek on Twitter: @miteksystems
Connect with Mitek on Facebook: http://www.facebook.com/MitekSystems
See Mitek on YouTube: http://www.youtube.com/miteksystems
Read Mitek’s latest blog post: http://www.miteksystems.com/blog

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, Inc.