Mitek Powers Harland's Identity Theft & Check Fraud Prevention Solution
November 09 2005 - 5:38PM
PR Newswire (US)
Harland's Validify(TM) Solution Detects Up to 85% of Simulated
Forged Checks in Financial Institution Pilot Test Sites POWAY,
Calif., Nov. 9 /PRNewswire-FirstCall/ -- Mitek Systems, Inc.
(OTC:MITK) (BULLETIN BOARD: MITK) (http://www.miteksystems.com/), a
leading provider of image analytics and intelligent character
recognition software, today announced that its software enables
John H. Harland Company's newly released Validify(TM) solution to
combat identity theft and check fraud. Harland is unveiling the
solution at the upcoming BAI Retail Delivery Conference & Expo,
November 15-18, 2005 in Orlando, Fla., at booth #1545. (Logo:
http://www.newscom.com/cgi-bin/prnh/20041117/LAW022LOGO) Mitek's
innovative image processing software provides the capability to
encode, encrypt, decode and validate signatures with the objective
of detecting forgeries at any point a check is presented for
payment. The solution is unique in its ability to catch forgeries
without relying on information stored in a database and was created
based on specifications jointly developed with Harland. Several
financial institutions, including a national bank and community
banks, participated in a pilot of the technology led by Harland.
Results indicate Validify successfully detected up to 85% of
simulated forgeries. "Mitek has been a strategic partner of
Harland's for two years, working very closely with us on this
project. Their innovation in the field of image analytics and
consistent execution has been pivotal to bringing Validify to
market," said Kevin Lee, president of Harland Services and Payment
Solutions. Harland will deliver the solution to financial
institutions, for which Mitek will receive recurring royalties
based on Harland's sale of Validify printed checks. In addition,
Mitek retains the exclusive rights to license the validation
software to vendors of ATM machines, Point of Sale systems, kiosks,
scanners, and other Check 21 compliant devices used to process
check payments. "We are very pleased to have Harland as our key
Financial Industry partner for this exciting opportunity. We
believe that detecting signature forgeries at any point of
presentment is valuable to a number of industries such as Retail,
Healthcare, and homeland security. We will continue to innovate and
plan to pursue these markets with our technology," said Mr. James
DeBello, president & chief executive officer of Mitek. Mitek
has 11 patents filed or in process to protect its intellectual
property in the areas of signature area pre-processing including
stamp removal, signature analysis, encoding, compression, and
validation. Mitek will be demonstrating the capabilities of
signature encoding and validation along with its intelligent
character recognition and check fraud detection software and
solutions at the upcoming BAI Retail Delivery Conference &
Expo, November 15-18, 2005 in Orlando, Fla., in booth #578. About
Mitek Systems Mitek Systems (OTC:MITK) (BULLETIN BOARD: MITK)
(http://www.miteksystems.com/) is a global leader in Image
Analytics used by financial institutions to detect fraud and
improve customer service. The Company also develops and markets the
most comprehensive suite of intelligent character recognition
software used to test, clean, read and authenticate imaged
documents. Sold to partners and directly to end users, the
Company's software is used in the processing of over 8 billion
transactions per year. For more information about Mitek Systems,
contact the company at 14145 Danielson Street, Suite B, Poway, CA
92064; 858-513-4600 or visit http://www.miteksystems.com/. About
Harland Atlanta-based John H. Harland Company (NYSE:JH)
(http://www.harland.net/) is a leading provider of software and
printed products to the financial and educational markets. Harland
Financial Solutions, Inc.
(http://www.harlandfinancialsolutions.com/), a wholly owned
subsidiary, supplies software and services, including customer
relationship management, deposit and loan origination, core systems
and mortgage services to thousands of financial institutions of all
sizes. Harland Printed Products' offerings include checks, direct
marketing and financial forms. Scantron Corporation
(http://www.scantron.com/), a wholly owned subsidiary, is a leading
provider of both paper and electronic-based services and systems
for the collection, management and interpretation of data to the
financial, commercial and educational markets. Forward-Looking
Statement Disclosure With the exception of historical matters, the
matters discussed in this news release are forward-looking
statements that involve risks and uncertainty. Forward-looking
statements include, but are not limited to, statements relating to
the Company's products, future development, and software use by
RDM. The Company's actual results could differ from such
forward-looking statements. There can be no assurance that the
Company will achieve the results set forth herein. Mitek and Mitek
Systems are registered trademarks of Mitek Systems, Inc. Media
Contact: Murali Narayanan Vice President Mitek Systems, Inc. 14145
Danielson St, Suite B Poway, CA 92064 (630) 362-0641
http://www.newscom.com/cgi-bin/prnh/20041117/LAW022LOGO
http://photoarchive.ap.org/ DATASOURCE: Mitek Systems, Inc.
CONTACT: Murali Narayanan, Vice President of Mitek Systems, Inc.,
+1-630-362-0641, Web site:
http://www.harlandfinancialsolutions.com/ Web site:
http://www.scantron.com/ Web site: http://www.harland.net/ Web
site: http://www.miteksystems.com/
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