SAN DIEGO, June 11, 2013 (GLOBE NEWSWIRE) -- Mitek (Nasdaq:MITK) (www.miteksystems.com), a leading mobile imaging software solutions provider, today announced that BBVA Compass, which ranks among the top 20 largest U.S. commercial banks based on deposit market share, has joined the growing list of financial institutions that have deployed Mobile Photo Bill Pay® which includes U.S. Bank, First Financial Bank and City Bank of Texas.
Mitek's Mobile Photo Bill Pay enables consumers to easily and securely pay a bill with the snap of a smartphone or tablet camera. After a customer captures an image of a bill, Mitek's technology automatically extracts relevant information from the paper bill and auto-populates the fields required to make a mobile payment. This ground-breaking way to pay bills eliminates the need for manual data entry, a checkbook or even a computer.
Mobile Photo Bill Pay 2.0 announced last week, features ground-breaking, touch-free, automatic image capture technology, known as Mitek MiSnap™ and a host of powerful analytic and performance features. The new version will make paying bills on a mobile device even faster and easier.
Mitek's Mobile Photo Bill Pay is part of a suite of solutions for financial services that includes Mobile Deposit®, Mobile Photo Balance Transfer™ and Mobile Photo Document Capture™. Mobile Deposit is currently licensed by 889 financial institutions including all of the top 10 retail banks in the US. In addition, Mitek's growing portfolio of solutions includes Mobile Photo Quoting™, which enables consumers to take photos of a driver license and an insurance card to get a real-time quote for auto insurance. This solution is used by Progressive and other leading P&C insurers.
All Mitek's solutions utilize its patented enterprise-class Mobile Imaging Platform and are available on-premise or in a secure hosting environment for rapid deployment.
For more information visit, http://www.miteksystems.com/solutions/banking/mobile-photo-bill-pay. To understand the ROI of Mobile Photo Bill Pay, read white paper at http://www.miteksystems.com/files/mitek/docs/aite_mitek_research_white_paper.pdf
Headquartered in San Diego, CA., Mitek (Nasdaq:MITK) is a mobile imaging software solutions provider that allows users to remotely deposit checks, pay their bills, get insurance quotes, and transfer credit card balances by snapping a picture with their camera-equipped smartphones and tablets instead of using the device keyboard. Mitek's technology increases convenience for the consumer by eliminating the need to go to the bank branch or automated teller machine, and dramatically reduces processing and customer acquisition costs while increasing customer retention. With a strong patent portfolio, Mitek is positioned as the leading innovator in mobile imaging software and currently provides its solutions to Fortune 500 financial services companies. For more information about Mitek, please visit http://www.miteksystems.com. MITK-G
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