SAN DIEGO, Jan. 31, 2013 (GLOBE NEWSWIRE) -- Mitek Systems (Nasdaq:MITK) (www.miteksystems.com), a leading mobile imaging software solutions provider and the pioneer of Mobile Deposit®technology, and Allied Payment Network (www.AlliedPayment.com) today announced a partnership that delivers the next generation of mobile bill payment with Mitek's Mobile Photo Bill Pay™.
Using Mitek's innovative Mobile Photo Bill Pay technology, bank and credit union customers can make payments directly from their camera-enabled smartphone or tablet by snapping a picture of any bill. This "snap to pay" functionality is the first of its kind in the industry. Allied Payment Network was the first bill pay processor to leverage Mitek's Mobile Photo Bill Pay technology when they unveiled their Picture Pay™solution in November 2012.
"With Mitek's Mobile Photo Bill Pay, Allied Payment Network enables regional and community banks and credit unions to offer their customers the ability to pay their bills with the snap of a picture," said Michael E. Diamond, senior vice president, business development for Mitek. "Our partnership with Allied extends our reach to deliver Mobile Photo Bill Pay to financial institutions of all sizes."
"The future of banking is here through Picture Pay, powered by Mitek's innovative Mobile Photo Bill Pay technology," commented Allied President Ralph Marcuccilli. "Picture Pay is available through Malauzai Software (Austin, TX, www.malauzai.com) and a growing number of mobile banking vendors and provides banks with a simple, easy to use bill pay tool. Giving customers the ability to pay a bill in seconds from a mobile device is critical to attracting and retaining the rapidly growing market of mobile customers."
Jeff Casey, Senior Vice President at First Financial Bank, N.A., Abilene, Texas, embraces the simplicity of the technology for its customers: "Anywhere. Anytime. Picture Pay takes away the inconvenient, time-consuming reality of paying bills online or with a checkbook, and replaces it with a quick, easy snap of a picture. Industry trends predict over one billion mobile banking users in the next few years, and we see the camera as a key to mobile banking success."
Link to YouTube video – First Financial Bank Picture Pay Commercial https://www.youtube.com/watch?v=oFboSpvmkpQ
Mobile Photo Bill Pay builds on the success of Mitek's Mobile Deposit product currently used by millions of customers at the nation's leading banks. Mobile Photo Bill Pay has the potential to spur greater bill pay market adoption and increase customer retention. CEB TowerGroup found that mobile services are among those that keep customers loyal to a financial institution and make customers reluctant to switch banks.
Mitek's Mobile Photo Bill Pay solution allows a bank customer or credit union member to easily and securely pay a bill with the snap of a smartphone or tablet camera. After a customer takes a picture of a bill, 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." Mitek's unique and template-free imaging technology gives consumers a convenient new bill payment option via their mobile device.
About Allied Payment Network
Headquartered in Fort Wayne, IN., Allied Payment Network is a visionary and innovative company that applies emerging bill pay technologies for the financial industry and its customers. The company was created to make the bill paying process easier and more convenient for the consumer, and more efficient and cost effective for financial institutions. Allied has pioneered, in collaboration with Malauzai Software (www.malauzai.com), a mobile banking application company, the first mobile point, shoot, and pay bill-pay application for smart phones. To learn more about Allied Payment, please visithttp://www.AlliedPayment.com.
Connect with us on Facebook: http://www.facebook.com/AlliedPayment
Follow us on Twitter: @AlliedPayment
See us on YouTube: http://www.youtube.com/AlliedPayment
Read more about Picture Pay: http://www.picturepay.com
About Mitek
Headquartered in San Diego, CA., Mitek Systems (Nasdaq:MITK) is a mobile imaging software solutions provider that allows users to remotely deposit checks, pay their bills, get insurance quotes, and transfer credit card balances by snapping a picture with their camera-equipped smartphones and tablets instead of using the device keyboard. Mitek's technology increases convenience for the consumer by eliminating the need 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 http://www.miteksystems.com. MITK-G
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CONTACT: Allied Payment Network
Ralph E. Marcuccilli, President/CEO
260.399.7400 Ralph@AlliedPayment.com
Mitek
Julie Cunningham
Vice President, Investor Relations & Corp Comm
ir@miteksystems.com
Sarah Schulz
Mix Public Relations