Profile: Mitek Systems Inc (MITK.OQ)
30 Jul 2015
Mitek Systems Inc. (Mitek), incorporated on May 29, 1986, is a provider of mobile solutions. The Company is engaged in the development, sale and service of software solutions related to mobile imaging. The Company's technology allows users to deposit checks, pay bills, transfer credit card balances, open accounts and get insurance quotes by taking pictures of various documents with their camera-equipped smartphones and tablets. IDchecker, Inc., a part of the Company, offers Strong ID product, which provides identity document authentication solutions, including passports, driver licenses and identity cards across the world, and Facelink facial recognition technology, which is a multi-factor identity verification, enables organizations to confirm the authenticity of an identity document and match it to the person presenting the document during a mobile transaction.
The Company's products use algorithms to correct image distortion, extract relevant data, route images to their desired location and process transactions through users’ financial institutions. The Company's mobile imaging software solutions are embedded in other mobile banking or enterprise applications developed by banks insurance companies and marketed under its own brands. Its mobile imaging software solutions can be accessed by smartphones and tablets using iOS and Android operating systems. The Company's mobile imaging solutions include Mobile Photo Bill Pay, Mobile Balance Transfer and Mobile Photo Account Opening are sold directly to enterprise customers.
The Company's mobile deposit product is a software that allows users to deposit a check, using their camera-equipped smartphone or tablet. As of September 30, 2014, approximately 3,026 financial institutions have deployed Mobile Deposit and 2,521 of these financial institutions have deployed Mobile Deposit to their customers.
Mobile Photo Payments
The Company's Mobile Photo Payments is a mobile direct bill pay solution. Mobile Photo Payments enables users to pay bills by taking a photo of their bill followed by a photo of the check or credit/debit card being used to pay the bill.
Mobile Photo Bill Pay
The Company's Mobile Photo Bill Pay is a mobile bill payment product that allows users to pay their bills using their camera-equipped smartphone or tablet and Mobile Balance Transfer. Mobile Photo Bill Pay provides service and convenience for bank customers who want to pay bills using their smartphone or tablet. Mobile Photo Bill Pay connects to existing online bill pay systems and allows users to pay bills by taking pictures with their camera-equipped smartphone or tablet camera.
Mobile Balance Transfer
Mobile Balance Transfer is a mobile product, which allows credit card issuers to provide an offer to users and transfer an existing credit card balance by capturing an image of the user's current credit card statement. Mobile Balance Transfer extracts necessary data from an image of the user's credit card statement to create a balance transfer offer. The customer can accept the offer with a single touch of a button and the bank can then automatically transfer the balance and establish a new credit card account.
Mobile Photo Account Opening
The Company's Mobile Photo Account Opening is a product that enables users to open a checking, savings or credit card account by capturing an image of the front and back of their driver’s license with their camera-equipped smartphone or tablet. Mobile Photo Account Opening can be used to open a new checking savings or credit card account with a financial institution retailer or other organization with account opening needs.
Mitek Systems Inc
8911 Balboa Ave
SAN DIEGO CA 92123-1596