Mitek Systems Inc was incorporated in the state of Delaware on May 29, 1986. The Company is engaged in the development and sale of software solutions related to mobile imaging solutions and intelligent character recognition software. The Company applies patented technology in image capture, correction and intelligent data extraction in the mobile financial and business applications market. Its technology for extracting data from any image taken using camera-equipped smartphones and tablets enables the development of consumer-friendly software products that use the camera as a simple mechanism to enter data and complete transactions. Its Mobile Deposit product is software that allows users to remotely deposit a check using their camera-equipped smartphone or tablet. Other mobile imaging software solutions offered by company include Mobile Photo Bill Pay, a mobile bill payment product that allows users to pay their bills using their camera-equipped smartphone or tablet, Mobile Balance Transfer, a product that allows credit card issuers to provide an offer to users and transfer an existing credit card balance by capturing an image of the users current credit card statement, Mobile Enrollment, a product that enables users to enroll their checking account as a funding source for mobile payments by taking a photo of a blank check with their camera-equipped smartphone or tablet, and Mobile Photo Quoting, a product that enables users to receive insurance quotes by using their camera-equipped smartphone or tablet to take a picture of their drivers' license and insurance card. Its mobile imaging software solutions can be deployed on all smartphone and tablet operating systems. The Company markets and sells its mobile imaging software solutions through channel partners or directly to enterprise customers and end-users that typically purchase licenses based on the number of transactions or subscribers that use the mobile software. Its mobile imaging software solutions are often embedded in other mobile banking or enterprise applications developed by banks, insurance companies or their partners, and marketed under their own proprietary brands.
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