Mitek’s Mobile Deposit® Processes More Than Two Billion Checks, $1.5 Trillion in Cumulative Check Value
March 08 2018 - 8:00PM
Mitek (NASDAQ:MITK) (www.miteksystems.com), a global leader in
mobile capture and identity verification software solutions, today
announced that its Mobile Deposit® solution has processed more than
two billion check deposits, totaling approximately $1.5 trillion in
cumulative check value.
“Just 18 short months after Mobile Deposit surpassed the one
billion mobile check deposits milestone, we have already processed
another billion checks,” said Michael Diamond, SVP and General
Manager, Payments, Mitek. “More than 80 million consumers use
Mobile Deposit because they love the convenience of the digital
channel for check deposit, and more than 6,100 U.S. financial
institutions use Mobile Deposit for billions saved in operating
costs.”
Since its creation, Mobile Deposit has saved banks an estimated
$5 billion in operating costs. It has also saved consumers more
than 830 million hours and kept an estimated 11 million tons of CO2
out of the atmosphere by allowing consumers to skip the drive to a
bank that was once required to deposit a check.
Mitek’s Mobile Deposit solution is widely recognized as the de
facto standard in the industry. Ninety-eight percent of financial
institutions that offer mobile deposit services, choose to offer
Mitek’s solution over competitive technologies, including 99 of the
top 100 U.S. banks. Current usage of Mobile Deposit is
predominately in retail banking, but the solution is increasingly
being used by small businesses and charitable organizations as
well.
About Mitek Mitek (NASDAQ:MITK) is a global
leader in mobile capture and identity verification software
solutions built on the latest advancements in AI and machine
learning. Mitek’s identity verification solutions allow an
enterprise to verify a user’s identity during a digital
transaction. This enables financial institutions, payments
companies and other businesses operating in highly regulated
markets to mitigate financial risk and meet regulatory requirements
while increasing revenue from digital channels. Mitek also reduces
the friction in the users’ experience with advanced data prefill
and automation of the onboarding processes. Mitek’s innovative
solutions are embedded into the apps of more than 6,100
organizations and used by more than 80 million consumers. For more
information, visit www.miteksystems.com or www.miteksystems.co.uk.
(MITK-F)
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Mitek Contact: Ann Reichert Senior Director of
Marketing pr@miteksystems.com
Katherine Verducci MIX Public Relations pr@mix-pr.com
Mitek Investor Contacts: Todd Kehrli or Jim Byers MKR Group,
Inc. mitk@mkr-group.com
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