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Mitek Systems, Inc. (MITK.OB) Mobile Deposit Application Allows Bancorp Bank to Expand Remote Deposit Gathering Capabilities

|Includes: Mitek Systems Inc. (MITK)
Mitek Systems is a company on the rise. An innovator of advanced image analytics and mobile document capture applications for over 20 years, the California Company has evolved into a pioneer of intelligent character recognition software.

Mitek announced today that it will expand the capabilities of The Bancorp Bank, Inc. with their Mitek Mobile Deposit Application. Bancorp Bank, which is a wholly owned subsidiary of The Bancorp, Inc. (NASDAQ: TBBK), will now be able to allow customers to deposit both business and personal checks via their smartphone cameras.

The mobile design application by Mitek was created for simple and secure use. The patent-pending system will support the payments industry standards for Remote Deposit Capture (NYSE:RDC) and is available on the iPhone, selected Blackberry devices and Windows Mobile handsets.

Peter Chiccino, who serves as The Bancorp Bank’s CIO/EVP, was quoted as saying, “We are constantly looking for ways to expand the way our clients make deposits, and mobile deposit processing is the next step in this expansion. Our newly formed relationship with Mitek is ideal for supporting the mobile deposit needs of our clients.”

Jim DeBello, the CEO and President of Mitek Systems, Inc., stated, “We couldn’t be more pleased that a tech-savvy organization like The Bancorp Bank has chosen Mobile Deposit as part of its strategy to offer its customers access to their funds more quickly and with an extra level of convenience.”

Currently, Mitek is trading in the $0.74 range. By working with The Bancorp Bank to expand capabilities of customers and having a solid array of products in their pipeline, Mitek is a company to keep an eye on. To learn more about Mitek, visit their website at and you’ll see customers are talking about this up-and-coming company.

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