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Lending Platform Provider Selects Mitek’s Mobile Fill™ to Speed Onboarding Process for New Customers

SAN DIEGO, March 22, 2016 (GLOBE NEWSWIRE) -- Mitek (NASDAQ:MITK) (www.miteksystems.com), a global leader in mobile capture and identity verification software solutions, today announced that a leading lending platform has selected Mitek’s Mobile Fill™ identity capture solution to improve its customer onboarding process. Mobile Fill creates a better user experience by significantly reducing the time it takes to apply for a loan via a mobile app.

“The small businesses and consumers that use online lending platforms want a fast and easy onboarding process,” said Michael Nelson, vice president of global sales, Identity Solutions at Mitek. “Mitek’s Mobile Fill delivers that, providing a significant value proposition for fintech organizations seeking to more efficiently and effectively acquire new customers.”

Adoption of Mitek’s Mobile Fill by lending platforms is expected to grow as online lending is poised to become a $1 trillion market by 2025 according to Foundation Capital. Morgan Stanley reports that in the U.S., online loan origination has doubled every year since 2010, with similar trends globally. Mobile Fill, which can pre-fill any form with accurate personal data in seconds by snapping a photo of a driver license, improves the effectiveness of these platforms by optimizing the user experience on a mobile device.

About Mitek

Mitek (NASDAQ:MITK) is a global leader in mobile capture and identity verification software solutions. Mitek’s ID document verification allows an enterprise to verify a user’s identity during a mobile transaction, enabling financial institutions, payments companies and other businesses operating in highly regulated markets to transact business safely while increasing revenue from the mobile channel. Mitek also reduces the friction in the mobile users’ experience with advanced data prefill. These innovative mobile solutions are embedded into the apps of more than 4,700 organizations and used by tens of millions of consumers daily for new account openings, insurance quoting, mobile check deposit and more. For more information, visit www.miteksystems.com. (MITK-F)

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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.