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TheStreet Open House

Mitek's Mobile Photo Account Opening(TM) Wins Best Of Show At Finovate Fall 2013

SAN DIEGO, Sept. 12, 2013 (GLOBE NEWSWIRE) -- Mitek (Nasdaq:MITK) ( www.miteksystems.com ), the company that created the category of mobile imaging for financial transactions has been awarded "Best of Show" at Finovate Fall 2013. Mobile Photo Account Opening, the latest innovation from the Mitek labs, enables financial institutions (FIs) to increase completion rates for opening and funding new accounts.  The solution reduces friction in the account opening process for checking, savings, credit card, and other products by using the camera as a keyboard. 

Out of nearly 70 company demos on innovative technologies for the financial and banking industries, Mitek's Mobile Photo Account Opening was chosen for "best demo" and "most potential impact" by attendees.

"This honor validates Mitek's view that Mobile Photo Account Opening is a transformational technology for customer acquisition," said Mitek President & CEO, James DeBello. "With Mobile Photo Account Opening, financial institutions can now respond to consumer expectation of a seamless experience anytime they use their mobile devices.   The Mitek labs continue to work with clients to apply our science anywhere we see friction, as we did by inventing mobile deposit."

Mobile Photo Account Opening was demonstrated as an employee-assisted account opening solution at Finovate. With this award-winning technology, financial institutions have a powerful tool for getting employees out from behind a desk and streamlining account opening in the branch and in the community on a tablet – making account opening a faster, more friendly and engaging process. Mobile Photo Account Opening is also available for mobile self-service.

Like Mobile Deposit, Mobile Photo Bill Pay®, and Mobile Photo Balance Transfer™, Mobile Photo Account Opening leverages Mitek's MiSnap™ touch-free capture technology which automates the image capture process – eliminating user-error and decreasing transaction processing time.  

As with all Mitek solutions, Mobile Photo Account Opening will be available on-premise and in a hosted environment. Those interested in becoming an early adopter can send an email to sales@miteksystems.com.

About Mitek

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, open accounts, get insurance quotes, and transfer credit card balances by snapping pictures 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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