FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Instagram Outage Disrupts Thousands of U.S. Users 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
SAN DIEGO, March 01, 2016 -- Mitek (NASDAQ:MITK) (www.miteksystems.com) a global leader in mobile capture and identity verification software solutions, today announced that a top five U.S. bank has selected its Mobile Deposit for multi-check capture to enable business customers to make batch deposits with a mobile device, reducing the need for scanners and eliminating trips to the ATM or the branch.
“Two-thirds of the nation’s checks are written to businesses. These checks are a major contributor to bank branch traffic and represent a tremendous growth opportunity for Mobile Deposit,” said Michael Diamond, General Manager, Payments Solutions at Mitek. “This deployment reflects the increasing focus by banks to migrate this important customer segment to more efficient and effective digital channels for bank transactions.”
In a report published last year by Celent's banking practice, titled “Seizing the SMB RDC Opportunity,” the research and advisory firm estimated that 32% of monthly teller transactions at the average financial institution branch office are small business check deposits. This represents a sizable opportunity for banks to migrate this volume to the mobile channel to reduce branch traffic while offering greater convenience to their commercial customers.
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 user experience with advanced data prefill. These innovative mobile solutions are embedded into the apps of more than 4,800 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)
Follow Mitek on LinkedIn: https://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 [email protected] Katherine Verducci MIX Public Relations [email protected] Mitek Investor Contacts: Todd Kehrli or Jim Byers MKR Group, Inc. [email protected]
