United States

Profile: Mitek Systems Inc (MITK.OQ)

MITK.OQ on NASDAQ Stock Exchange Capital Market

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Mitek Systems, Inc., incorporated on May 29, 1986, develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company's technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard. Its technology uses algorithms to correct image distortion, extract relevant data, route images to their desired location and process transactions. Its technology processes images of documents in various ways. These include quality analysis, image repair, document identification and the extraction of hand-printed and machine-printed text. The Company's products include Mobile Verify, Mobile Fill, Mobile Docs, Mobile Deposit and Commercial Mobile Deposit Capture.

The Company's mobile technology solutions are provided in two parts: a software development kit (SDK) for mobile capture, and a software platform for image correction, detection, extraction and authentication. The Company's mobile capture software solutions are embedded in other mobile banking or enterprise applications developed by banks, insurance companies or their partners, and then marketed under its own brands. The Company's mobile imaging software solutions are available for iPhone Operating System (iOS) and Android operating systems. Its solutions can be deployed on any back office, industrial or desktop scanner, or on camera-equipped smartphones or tablets, to optimize and extract data from any scanned or photographed identity document, check, bill or other financial document.

The Company's solutions include mobile document capture, image recognition, repair and optimization, dynamic data extraction, and various document-specific solutions, such as courtesy amount recognition, legal amount recognition, passport machine readable zones and reading of barcodes. The Company markets and sells its products and services across the world through internal, direct sales teams located in the United States and Europe, as well as through channel partners.

Mobile Fill

Mobile Fill is a mobile identity capture solution, which enables the camera to serve as a keyboard. Using Mobile Fill, consumers can pre-fill forms with personal data by snapping a picture of their driver license, credit card or other document. Organizations can use Mobile Fill for a range of purposes, including streamlining the process of opening a customer checking, savings or credit card account, paying a bill, activating a switch and save offer, and others. The Company's users for Mobile Fill include national and regional banks, credits unions, wireless telecom operators and insurance providers. The second generation of its Mobile Fill product, Mobile Fill for Mobile Web, enables customers to use their camera as a keyboard right from the organization's mobile Website.

Mobile Verify

Mobile Verify is an identity verification solution that can be integrated into mobile applications, mobile Websites and desktop applications. Mobile Verify combines the Company's auto capture experience with its computer vision technology to perform algorithmic-based tests that verify the authenticity of thousands of identity document types around the globe, including passports, driver's licenses and identity cards from every nation. These products help banks and other businesses in know your customer (KYC) processes. Mobile Verify users include international payments, financial services and information services providers.

Mobile Docs

Mobile Docs is a mobile document scanning solution. It enables consumers to take photos of documents resulting in scanner-quality images. Mobile Docs can be used to submit the trailing documents required for digital onboarding, lending and other use cases where additional documentation is required in a workflow.

Mobile Deposit

Mobile Deposit allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet. Mobile Deposit is utilized by the mobile banking applications of the United States and Canadian retail banks. The Mobile Deposit process allows the consumer to take photographs of the front and back off a check and remotely deposit the check with their participating bank.

Commercial Mobile Deposit Capture

The Company's Commercial Mobile Deposit Capture product integrates the same technology as Mobile Deposit with additional solutions specific to small and medium size businesses. Additional solutions include a mobile multi-check capture to help businesses eliminate the need for check scanners and trips to the automated teller machine (ATM) or bank branches. Commercial Mobile Deposit Capture solution enables the user to capture multiple checks individually in one video session and then providing solutions to virtually edit, append information to, and batch the items into a single business deposit, which can be deposited remotely from the mobile device. Commercial Mobile Deposit Capture solution is used in business banking.

Company Address

Mitek Systems Inc

600 B St Ste 100
SAN DIEGO   CA   92101-4505
P: +1619.2696800
F: +1302.6555049

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