Mitek Names Industry Luminaries to Its Board of Directors and Advisory Board
Financial Services Veterans From ID Analytics, Walmart and FTV Capital Bring
SAN DIEGO, Oct. 9, 2012 (GLOBE NEWSWIRE) -- Mitek Systems, Inc., (Nasdaq:MITK)
(www.miteksystems.com), a leading mobile imaging software solutions provider,
today announced that its board of directors has elected Bruce Hansen as
independent director, effective immediately. Mr. Hansen replaces William P.
Tudor, who is rotating off the Board after eight years due to health reasons.
Mr. Tudor will continue to serve on the Company's advisory board.
Bruce Hansen, who has served on Mitek's advisory board, brings decades of "big
data" analytics industry experience as the co-founder and former chairman and
CEO of ID Analytics, a consumer risk management company that was acquired by
identity theft protection leader, LifeLock earlier this year. During his
tenure, Mr. Hansen built ID Analytics from concept-stage into a high-growth,
profitable firm serving over 280 enterprise clients, including the nation's
leading banks and mobile network telcos, and five million consumers.
Previously, Mr. Hansen was president of HNC Software and CEO of the Center
for Adaptive Systems Applications. Bruce Hansen holds a BA in economics from
Harvard University and an MBA from the University of Chicago.
In addition, Mitek welcomed Jane J. Thompson and Jim Hale to its advisory
board. Jane Thompson is a recognized thought leader in financial services,
serving banks and non-banks through her firm, Jane J. Thompson Financial
Services, LLC. As founder and former president of Walmart Financial Services
for nearly a decade, Ms. Thompson is recognized as an innovator in financial
services, achieving significant profit growth based on her consumer insights
and operating leadership skills. She brings over two decades of
consumer-level strategy and marketing expertise to Mitek, including executive
roles at Sears, Roebuck & Co., partnership at McKinsey & Company, and brand
management at Procter & Gamble.Jane serves on the board of The Fresh Market
(Nasdaq:TFM) and was formerly on the board of ConAgra. Jane Thompson received
her BBA from the University of Cincinnati and an MBA from Harvard Business
Jim Hale is a successful innovator with 35 years of experience in management,
private equity and commercial and investment banking. In 1998, he co-founded
FTV Capital, a growth equity fund with over $1 billion under management.
Prior to FTV, Mr. Hale was senior managing partner and head of the Financial
Institutions Group at Montgomery Securities.Under Mr. Hale's direction, this
nationally prominent team advised high-growth technology companies on
literally hundreds of mergers and equity capital markets transactions,
including numerous IPOs, many of which were in the payments industry.Mr. Hale
currently serves on the board of directors of Official Payments Holdings
(Nasdaq:OPAY) and the State Bank of India (California), as well as two
non-profit organizations, Public Radio International and St. Ignatius College
Preparatory Foundation, an endowment fund. Jim Hale received a BS from the
University of California at Berkeley, an MBA from Harvard Business School, and
is a Certified Public Accountant.
Mitek's Advisory Board has four members, including Jane Thompson, Jim Hale,
Bill Tudor, and John Major, who currently serves as lead independent director
of Broadcom Corporation (Nasdaq:BRCM).
"We are delighted to have these high caliber executives join us as senior
advisors to Mitek. The breadth of our board members' collective experience is
invaluable as we position the Company to take advantage of the mobile
financial services market opportunity," said James DeBello, president and CEO
of Mitek Systems. "Mitek has greatly benefitted from Bill Tudor's stewardship
over the years and, on behalf of Mitek's board of directors, I would like to
sincerely thank Bill for his many contributions.We look forward to his
continued counsel as a member of our advisory board."
Headquartered in San Diego, Calif., Mitek (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, please visitwww.miteksystems.com.MITK-F
CONTACT: Investor Relations
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