Enables Developers in Banking, Insurance and Healthcare to Create Camera-Based Smartphone and Tablet Apps that Extract Data from Documents, Enhance the Input Experience on Mobile Devices
SAN DIEGO, July 27, 2011 /PRNewswire/ -- By the end of this year, smartphones and tablets will become the majority of all mobile devices in use in the United States, according to industry analysts. To enable industries such as banking, insurance and healthcare to leverage those devices to eliminate manual information entry, Mitek Systems, Inc. (NASDAQ: MITK; www.miteksystems.com) today announced the availability of the first Mobile Imaging Cloud, which captures, extracts and routes information contained in documents and can be used to create camera-based mobile solutions that simplify the user experience for tasks such as receipt management and expense reporting, obtaining insurance quotations and flex-spending account reimbursements, and submitting prescriptions.
Created by Mitek and hosted at Amazon's multi-tenant, enterprise-class EC2 platform, the Mitek Mobile Imaging Cloud (MIC) provides mobile application developers, systems integrators and businesses with a fast, cost-effective way to create smartphone and tablet apps that use the camera as an input method for a wide variety of tasks.
Mobile Imaging Cloud features Mitek's patented image-extraction technologies, which are used by most of the nation's top 10 retail banks for processes such as mobile check deposit. MIC is ideal for enrollment applications, quotations, reimbursements and identity verifications because Mitek's extractive-imaging technology works with both paper and non-paper documents, including drivers' licenses, gift cards, receipts, invoices, tax documents and many others.
"We've achieved 'gold-standard' recognition in the financial services industry as the leader in mobile-imaging applications for check deposits, bill payments and ACH enrollments," said Mitek President and CEO James B. DeBello. "Our Mobile Imaging Cloud is a solution accelerator for developers. Our partners and customers get to market faster, while capitalizing on Mitek's years of experience and intellectual property in mobile-image pre-processing, analysis, and data extraction. It's the latest example of Mitek's commitment to providing our customers with solutions that enable them to acquire and retain consumers and make their employees more productive while providing a great user experience."
"Companies in a wide variety of industries are looking for innovative ways to leverage smartphones and tablets to attract new customers and better serve their existing ones," he added. "Mobile Imaging Cloud meets that need by providing an enterprise-grade solution that enables employees and customers to simply take photos of key documents instead of manually typing that information, thereby reducing errors and the time involved."
Built on advanced algorithms and neural networks, Mitek's Mobile Imaging Cloud provides an optimal customer experience by eliminating the need for users to type data on small keyboards. The solution replaces keystrokes with a single photo of any document from which important data is extracted and securely routed to transaction-processing systems.
MIC compensates for distortions and shadows, and optimizes the document photo to become recognition friendly, assuring the industry's highest accuracy and throughput for extracted data. The user is prompted with instant feedback through real-time analytics that measure photo quality, providing a high level of customer satisfaction.
"The ability to utilize a cloud-based imaging platform to analyze and extract data from photos taken by a mobile phone or tablet is invaluable for individuals and businesses interested in developing applications for industries that want to shorten the time it takes to quickly and accurately input data by reducing the keystrokes required for data entry," said Roger Entner, analyst and founder of Recon Analytics, which provides fact-based research and insights around the telecom industry.
Mobile Imaging Cloud is designed for rapid prototyping and deployment of innovative applications using mobile cameras, and is available today on both a hosted basis and under software licensing arrangements. Mitek hosts the service with open APIs and proven compatibility with a wide array of mobile operating systems and devices.
About Mitek Systems
Over the past 25 years, Mitek Systems has established its technology as the 'gold standard' for check imaging and fraud detection. Today, the company's patented extractive imaging technology transforms camera-equipped smartphones and tablets into mini document scanners with the ability to intelligently extract relevant data from a multitude of document types and formats. That information can then be imported into a company's business processes and systems – powering a new generation of mobilized applications and consumer services to simplify peoples' lives and create unique competitive advantages for the companies that market to them.
Mitek's mobile technology is now being used by most leading financial institutions for mobile check deposit.
Building on its success with financial services organizations, Mitek is now working with other industries to utilize its patented extractive imaging technology to create unique solutions where consumers can take pictures of their banking, insurance or healthcare documents or statements and with a single snap automatically complete transactions, enroll in new services or receive competitive offers by using their online smartphone or tablet cameras.
For more information about Mitek Systems, contact the company at 858-503-7810 or visit www.miteksystems.com.
SOURCE Mitek Systems, Inc
