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Mitek Systems, Inc. (MITK) Partners with VSoft to Offer Mobile Smartphone Depositing Platform for Financial Institutions

|Includes: Mitek Systems Inc. (MITK)

Mitek Systems, the 20-year veteran provider of advanced mobile imaging and analytical authentication/data extraction software to financial service companies, has reportedly partnered with financial services-minded information and technology process improvement specialists, VSoft Corporation, whereby the Company’s patented Mobile Deposit® technology will be used at financial institutions in conjunction with the VSoft Agile Mobile Capture™ solution.

The marriage of these two powerful technologies will create dynamic improvements for financial institutions and end-users alike, resulting in a mobile smartphone/tablet-ready platform that provides the ultimate in convenience and security for banking customers. This new platform will represent a real competitive edge, allowing customers to make secure deposits from any location, while reducing process complication and transaction costs for the financial institution.

Senior VP of Sales and Business Development at MITK, Drew Hyatt, extolled the superior image quality/analytics capabilities of the Mobile Deposit technology that will allow devices like the Apple iPhone, RIM BlackBerry and Google Android to easily and rapidly service customer’s check depositing functions from anywhere. The Company’s mobile image-quality assessment testing technology, which is built into Mobile Deposit, allows for real-time feedback to mobile users, eliminating that vast majority of errors and ensuring high quality images, as well as a high transaction completion rate for the financial institution.

Chairman and Managing Director of VSoft, Murthy Veeraghanta, was clearly pleased with the combined solution which successfully leverages VSoft’s remote deposit capture technology to create what is arguably a superior offering in the sector that should attract financial institutions readily. The roll out of such an easy to use app by a financial institution is sure to create instant loyalty with clients who will move to embrace the greatly expanded options the platform creates for doing banking from anywhere and while on the go.

The clever integration with of Mobile Deposit with VSoft is just another example of MITK’s shrewd partnering strategy. Clear channels to expand into other mobile activity, like paying bills, faxing documents, saving receipts and other image processing/imaging-based activities, represents another huge development venue for future partnerships.

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