Mitek Systems Sells Electronic Item Processing and Document Management Business to Harland Financial Solutions
08 Luglio 2004 - 3:26AM
PR Newswire (US)
Mitek Systems Sells Electronic Item Processing and Document
Management Business to Harland Financial Solutions POWAY, Calif.,
July 7 /PRNewswire-FirstCall/ -- Mitek Systems, Inc. ("Mitek")
(OTC:MITK) (BULLETIN BOARD: MITK) announced today that it has sold
certain assets and granted exclusive distribution and licensing
rights related to its CheckQuest(R) item processing and
CaptureQuest(R) electronic document management solutions to Lake
Mary, Florida-based Harland Financial Solutions, Inc. ("Harland"),
a wholly owned subsidiary of John H. Harland Company (NYSE:JH). In
addition to the acquisition of certain assets, Harland has licensed
from Mitek the QuickStrokes(R) family of recognition toolkits and
the QuickFX(R) Pro form identification toolkit for use with
CheckQuest and CaptureQuest. In addition, Harland will resell
Mitek's full line of image- based fraud protection solutions. "We
believe that our CheckQuest and CaptureQuest customers will benefit
greatly from this sale and licensing of assets," said James
DeBello, president and chief executive officer of Mitek Systems.
"We are very pleased that our CheckQuest and CaptureQuest clients,
along with the talented employees that support them, will now be
part of Harland Financial Solutions, an acknowledged market leader
in the financial technology space. "With Check 21 on the horizon,
image-based check fraud protection technologies will become a
critical component of operations for large and small banks alike.
This sale and licensing of assets will allow Mitek to focus on its
core competency of developing industry leading diagnostic tools for
combating check fraud, recognition engines, and document processing
solutions. We believe check fraud detection is likely to be a key
area of growth and presents a sizeable opportunity for the
Company," added DeBello. "Our clients are looking for item
processing and electronic document management solutions that enable
them to realize the front and back-office efficiencies made
possible by Check 21," said John O'Malley, president of Harland
Financial Solutions. "Existing users of CheckQuest and CaptureQuest
are well positioned to realize these efficiencies. Now, our
thousands of bank and credit union clients will have the
opportunity to use these products, delivered as either an in-house
or service bureau offering," added O'Malley. CheckQuest provides
financial institutions with a high-performance, check imaging and
item processing solution that positions them to take advantage of
the efficiencies offered by Check 21. CaptureQuest is an electronic
document management system that allows financial institutions to
file, distribute, archive, retrieve and automatically process
documents and forms of all types and quantities. About Mitek
Systems Mitek Systems is a premier provider of check fraud
protection solutions and check imaging software for the banking
industry, and an established global supplier of embedded software
recognition engines. Mitek develops recognition technology using
advanced neural networking techniques and deploys this expertise in
fraud prevention, check, financial document and forms processing
applications. These applications automatically process over 8
billion documents per year for a variety of OEMs, reseller partners
and end users. 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
Financial Solutions Harland Financial Solutions
(http://www.harlandfinancialsolutions.com/) supplies software and
services to thousands of financial institutions of all sizes.
Harland Financial Solutions is a leader in deposit & loan
origination, platform, teller, call-center, mortgage, business
intelligence, core systems, customer relationship management
systems, and compliance training software. About Harland
Atlanta-based John H. Harland Company (NYSE:JH)
(http://www.harland.net/) is listed on the New York Stock Exchange
under the symbol "JH." Harland is a leading provider of software
and printed products to the financial institution market. Harland's
software solutions include, deposit & loan origination,
platform, teller, call-center, mortgage, business intelligence,
core systems, and customer relationship management systems.
Harland's 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 software 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
press release are forward-looking statements that involve risks and
uncertainty. Forward-looking statements include, but are not
limited to, statements relating to the transaction with Harland,
development and pace of sales of Mitek's products, and expected
trends and growth in Mitek's results of operations, and planned
expansion of sales and marketing activities. Mitek's actual results
could differ from such forward-looking statements. There can be no
assurance that Mitek will achieve the results set forth herein.
Mitek, Mitek Systems, CheckQuest, CaptureQuest, QuickStrokes and
QuickFX Pro are registered trademarks of Mitek Systems, Inc. All
other product or company names may be trademarks or registered
trademarks of their respective holders. For further information
please contact: James B. DeBello, President and CEO of Mitek
Systems, Inc., +1-858-513-4600; or general information, Laurie
Berman of Financial Relations Board, +1-310-407-6546, for Mitek
Systems, Inc. DATASOURCE: Mitek Systems, Inc. CONTACT: James B.
DeBello, President and CEO of Mitek Systems, Inc., +1-858-513-4600;
or general information, Laurie Berman of Financial Relations Board,
+1-310-407-6546, for Mitek Systems, Inc. Web site:
http://www.harland.net/ Web site:
http://www.harlandfinancialsolutions.com/ Web site:
http://www.miteksystems.com/
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