Mitek Receives $1.4M Reorder From Global Banking and Payment Technology Provider

Mitek MITK (www.miteksystems.com), the leading innovator of mobile capture and identity solutions, today announced that it has received a $1.4 million reorder for Mobile Deposit® transactions from a global banking and payment technology provider representing the third consecutive annual reorder from this partner. This agreement closed in Mitek's fiscal 2015 fourth quarter and consisted of $1.2 million in software license revenue and $200,000 in first year maintenance revenue. "This latest reorder reflects this partner's ongoing commitment to Mitek and our ability to deliver the highest standard in usability, scalability and security to insure a quality mobile deposit experience," said James B. DeBello, president & CEO, Mitek. "This partner supplies Mobile Deposit to some of the country's largest banks and prepaid card providers. Such loyalty from this and other partners has earned Mitek a 100% Mobile Deposit partner retention rate and enabled us to retain a nearly 100% market share in the Mobile Deposit market." Mobile Deposit is licensed by more than 4,100 banks and loved by over 50 million users.