RDM to Target Small Businesses with ImageNet Mobile Deposit(tm)
Application for Blackberry(tm) and iPhone(tm)
SAN DIEGO and WATERLOO, ON, Feb. 24 /CNW/ - Mitek Systems, Inc. (OTCBB:
MITK, www.miteksystems.com), an innovator of image analytics and mobile
document capture applications, and RDM Corporation (TSX: RC), a leading
developer of specialized software and hardware products for electronic payment
processing, announced today that RDM will integrate Mitek's ImageNet Mobile
Deposit into its Image & Transaction Management System (ITMS) suite of Remote
Deposit Capture (RDC) products. The combined Mobile Deposit application will
provide RDM customers with one of the first commercially available mobile
merchant capture applications, and allows small and medium sized businesses
the ability to use merchant capture virtually anywhere. The downloadable
application is initially available for the iPhone and latest Blackberry
ImageNet Mobile Deposit allows checks to be deposited from an end user's
camera-equipped mobile phone, giving financial institutions the ability to
provide their account holders an extra level of convenience and quicker
availability of funds. The combined offerings will extend merchant capture to
many small to medium sized businesses that process less than 25 checks a day
and have been slow to adopt desktop RDC because of high entry costs which
include specialized scanning equipment, software and maintenance costs.
"RDM will bring mobile merchant capture to small and medium sized
businesses that have a need for timely cash deposits, and who can immediately
benefit from having check deposits scanned in the field," said James DeBello,
President and CEO, Mitek Systems.
"RDM is very excited to extend its Remote Deposit Capture capabilities to
the convenience of a mobile phone, which will expedite check deposits even
further," said Douglas Newman, President and CEO of RDM Corporation. "Adding
mobile RDC functionality to our solution provides a critical business tool for
small business owners working from remote locations. Not only will Mobile
Deposit add convenience, but in many business applications Mobile Deposit will
enable funds availability sooner than they are available today."
Using Mobile Deposit is a simple three-step process. The user initiates
the Mobile Deposit application on their cell phone, keys in the deposit
amount, and snaps a photo of the front and back of the check. The check images
are conformed to Check 21 standards and transmitted securely over a wireless
network to the bank as a remote deposit. The application ensures that the
image captured meets industry standards for image quality for electronic check
processing through Check 21 or image exchange methods and then provides the
user with notification that the check image has been successfully accepted.
About Mitek Systems, Inc.
Mitek Systems (OTCBB: MITK; www.miteksystems.com) is an innovator of
image analytics and mobile imaging technologies used to capture and process
data on checks, forms and documents. Used by financial institutions, life
science companies, and government agencies the Company's products represent
the most comprehensive suite of intelligent character recognition software
used to test, clean, read and authenticate imaged documents and objects, and
its software is used to process more than nine billion transactions per year.
Mitek was selected by Bank Technology News as one of the "Top Ten Technology
Companies to Watch." For more information about Mitek Systems, contact the
company at 858-503-7810 or visit http://www.miteksystems.com.
About RDM Corporation
RDM Corporation is headquartered in Waterloo, Ontario and trades on the
Toronto Stock Exchange under the symbol RC. RDM is a leading provider of
specialized software and hardware products for electronic payment processing.
RDM has pioneered electronic check conversion systems and web based image and
transaction management services for banks, retailers, payment processors and
government agencies as well as print quality control and image quality systems
for a variety of global customers. For further information, visit RDM's
website at www.rdmcorp.com.
Forward-Looking Statement Disclosure
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, and other expressions of management's belief or opinion
that reflect its current understanding or belief with respect to such matters.
Such statements include, without limitation, projections of revenue and
operating expenses. These estimates and projections and the company's business
prospects in general are subject to numerous risks and uncertainties,
including the fact that the company has a history of losses, may not be able
to achieve or maintain profitability. These and other risks are detailed from
time-to-time in the Company's SEC reports, including our most recent Form
10-QSB and our Form 10-KSB for the fiscal year ended September, 2007. Actual
results may differ materially from those projected. These forward-looking
statements represent management's opinions and beliefs as of the date of this
news release. The Company disclaims any intent or obligation to update these
forward-looking statements to reflect events or circumstances that may arise
after the date of this release.
For further information:
For further information: James DeBello, For Mitek Systems, Inc., (858)
254-3065, firstname.lastname@example.org; Jim Merwin, For RDM Corporation, (519)
746-8483, extension 284, email@example.com