Mitek Systems (MITK) develops, sells, and services software solutions related to mobile imaging applications and intelligent recognition software in the United Stats and Internationally.
The company’s offers mobile imaging applications and intelligent recognition software provided as development toolkits.
Mitek offers Mobile Deposit, an application that allows banks to accept check deposits via photos of checks taken with camera-equipped smartphones; Mobile Receipt, which converts the photo of a receipt taken with a smartphone into an image, as well as converts the data into an expense report; Mobile Phax that allows a user to take a photo of any letter sized document or page, and send it as a portable document format file to any email address or fax machine; and Mobile Photo Bill Pay, which allows users to take pictures of their bills with their smartphone cameras, as well as corrects image distortion, reads relevant data, and processes the transactions through the users’ banks. The company also offers character recognition toolkits under the brand ImageNet that provide a high level of accuracy in remittance processing, proof of deposit, and lock box processing applications.
These products are used to reduce manual labor by automatically extracting amounts and routing information from checks and distinguishing between common document types, such as personal and business checks, substitute checks, pre-authorized drafts, and other document types specified by customers.
In addition, Mitek provides FraudProtect Systems, an automated software application that allows banks to detect the most common forms of check fraud from forged signatures and counterfeit checks, as well as the detection of pre-authorized drafts and payee name alterations. Further, it offers ImageScore, a solution for financial institutions that truncates or uses check images in an accounts receivables conversion environment.
The company was founded in 1983 and is based in San Diego, California.
Information provided by Capital IQ
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