Mitek Systems Technology Innovation Enables Bill Payments via Smartphone Cameras
SAN DIEGO – May 16, 2011 – Mitek Systems, Inc. (OTC: MITK.OB, www.miteksystems.com), the leader in mobile-imaging applications using smartphone cameras for check deposits, bill payments and ACH enrollments, said today its Mobile Photo Bill Pay™ application was chosen as a “Best of Show” application from among demonstrations of technology innovations for the financial services industry at the Finovate Spring 2011 conference last week in San Francisco.
“Jim Bruene has made Finovate the premier gathering for showcasing technology advances in financial services, as the number of presenting companies indicates. We’re thrilled that our Mobile Photo Bill Pay application has been chosen as one of this show’s top breakthroughs,” said Mitek President and CEO James B. DeBello.
Mitek’s Mobile Photo Bill Pay enables users to pay their bills from anywhere at any time, simply by snapping photos of paper bills with their camera-equipped iPhone or Google Android smartphones. The technology allows customers to “Point, Shoot and Pay” any bills, regardless of format, via their mobile-banking accounts.
To pay bills, users initiate mobile-banking sessions with their financial institutions on their smartphones, then align their bills within the cameras’ viewfinders, snap photos of their bills and, responding to the application’s prompt, confirm details of their transactions. Mitek’s patented image-analysis and data-extraction processes capture and relay all the data required for the financial institutions to pay bills electronically.
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