SAN DIEGO, Sept. 6, 2012 (GLOBE NEWSWIRE) -- Mitek Systems, Inc.,
(Nasdaq:MITK) (www.miteksystems.com), a leading mobile imaging software
solutions provider, today announced the availability of a new white
paper from analyst firm CEB TowerGroup, "Mobile Photo Bill Pay: The
Next Generation in Bill Payment" by Research Director -- Commercial
Banking and Payments, Andy Schmidt. The report examines how adding
mobile photo bill pay, which uses mobile imaging technology to enable
consumers to add payees and pay bills using their mobile devices, can
expedite customer acquisition and improve revenue opportunities for
financial services institutions. Schmidt will detail his findings in an
upcoming live webinar on September 18, 2012.

"We believe that mobile photo bill pay is the next killer app for
mobile financial services and the new CEB TowerGroup report validates
that premise," said Mitek Systems' President and CEO James DeBello.
"Now that Mobile Deposit(R) has become 'table stakes' for banks, they
are looking for the next big mobile offering to help acquire new
customers, keep their current customer base engaged and happy, and
build new revenue streams. Mitek's Mobile Photo Bill Pay(TM) product
delivers a unique way for consumers to enroll payees and pay bills with
their camera, and for banks to lower switching costs and increase
revenues."

"Extending the image capture capabilities that have been so successful
with Mobile Deposit into the bill pay market is the next generation of
bill payment," said CEB TowerGroup Research Director Andy Schmidt. "Our
research shows that the ability to 'self-serve' is a leading drive of
retention and profitability among retail banks, and offering the
ability to enroll new payees and pay a bill on a mobile device extends
the utility and stickiness of mobile banking while streamlining the
bill payment process. This combination is a win-win for both banks and
consumers."

Mitek's mobile imaging technology enables consumers with a
camera-equipped smartphone or tablet to simply take a picture of a bill
or remittance coupon, the technology automatically extracts relevant
information from the paper bill and auto-populates the fields required
to make a mobile payment. The consumer then schedules the payment and
clicks "pay." This unique imaging capability gives consumers a new bill
payment option via a mobile device. They can quickly add a new payee to
their online bill pay, pay one-time or non-recurring bills, and set up
recurring bills and payments from anywhere, at any time. The ability to
add a new payee with a mobile device is a key competitive advantage
over existing mobile bill pay applications.

Mobile Photo Bill Pay Live WebinarTuesday, September 18, 2012, 11:00
PT/2:00 ET

During this live web event Schmidt will explain how mobile photo bill
pay can extend mobile banking offerings and streamline the bill pay and
bill enrollment process, increase customer retention and offset bill
pay costs by reducing paper handling and creating new opportunities for
expedited bill pay revenue. Following his presentation, Diane Morgan,
Director of Mobile Photo Bill Pay will demonstrate Mitek's solution.
Morgan and Schmidt will also be available for a live Q&A following the
presentations.

To register for the webinar visit:
https://www1.gotomeeting.com/register/785603344

About Mitek Systems

Headquartered in San Diego, Calif., Mitek Systems (MITK) is a mobile
imaging software solutions provider that allows users to remotely
deposit checks, pay bills, get insurance quotes, and transfer credit
card balances by snapping a picture with their smartphone or tablet
cameras instead of using the device keyboard. Mitek's technology
increases convenience for the consumer by eliminating the need to have
to go to the bank branch or automated teller machine, and dramatically
reduces processing and customer acquisition costs while increasing
customer retention. With a strong patent portfolio, Mitek is positioned
as the leading innovator in mobile imaging software and currently
provides its solutions to Fortune 500 financial services companies. For
more information about Mitek Systems, please visit
www.miteksystems.com.

Connect with us on Facebook: http://www.facebook.com/MitekSystemsFollow
us on Twitter: @miteksystemsSee us on YouTube:
http://www.youtube.com/miteksystemsRead our latest blog post:
http://www.miteksystems.com/blog