Mitek Announces Newest Release of its Patented Mobile Deposit® Solution

SAN DIEGO and LONDON, June 01, 2017 -- Mitek (NASDAQ:MITK) (www.miteksystems.com), a global leader in mobile capture and identity verification software solutions, today announced the latest release of its market-leading Mobile Deposit solution, featuring innovative new capabilities and enhancements that improve the performance and usability of Mobile Deposit for both banks and consumers. Built on the company’s robust patent portfolio, this latest generation is the 23rd new release since Mitek invented Mobile Deposit 10 years ago.

“Mitek pioneered Mobile Deposit and we are committed to ongoing innovation,” said James DeBello, Chairman and CEO, Mitek. “Our computer vision and machine learning science provides a framework for continuous improvement, which allows us to deliver groundbreaking new releases on an ongoing basis.”

This newest release of Mobile Deposit integrates directly with the latest version of Mitek MiSnap™ to enrich the user experience. Users will receive more detailed and immediate feedback during the capture experience to ensure their image is optimal for processing before being captured and submitted. The way that user errors are handled has also been improved, giving both users and banks more information so they can adapt and succeed in the mobile environment.

This release of Mobile Deposit also features tools that increase ease of administration and system performance tuning. It includes enhancements to the underlying science designed to process submitted images faster and a user interface update to the admin tools section that enables easier administration. Support for the latest versions of Microsoft’s operating system and SQL server will also reduce the overall costs associated with deploying Mobile Deposit.

Lastly, this release of Mobile Deposit will support Mitek’s Associated Documents Module, enabling account receivable departments and processors the ability to capture and accept check deposits along with associated invoice/remittance documents via mobile devices.

Today Mitek’s Mobile Deposit is offered by more than 5,600 banks and used by 80 million consumers in the U.S. and Canada. The Mobile Deposit innovation timeline can be reviewed at www.miteksystems.com/mobile-deposit.

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 5,600 organizations and used by tens of millions of consumers for mobile check deposit, new account opening, insurance quoting, and more. For more information, visit www.miteksystems.com or www.miteksystems.co.uk. (MITK-F)

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Mitek Contact:
Ann Reichert
Senior Director of Marketing
[email protected]

Katherine Verducci
MIX Public Relations
[email protected]

Mitek Investor Contacts:
Todd Kehrli or Jim Byers
MKR Group, Inc.
[email protected]