Mitek and Experian(R) Collaborate to Help Organizations Monetize the Mobile Channel

Mitek and Experian(R) Collaborate to Help Organizations Monetize the Mobile
Channel

  *Mitek's Mobile Photo Account Opening™ eliminates the notoriously
    cumbersome and error prone manual data entry on a mobile device by using
    the camera as the keyboard
  *Experian's Precise ID gives clients the most complete and accurate view of
    a consumer's identity so they can make the right decisions
  *Combined solution streamlines account opening by making it easy and safe
    for consumers to engage with organizations in the extremely popular mobile
    channel

SAN DIEGO and LAS VEGAS, Oct. 7, 2013 (GLOBE NEWSWIRE) -- Mitek (Nasdaq:MITK)
(www.miteksystems.com), the leading innovator of mobile imaging for financial
transactions, announced today at Money 2020 that it is working in partnership
with Experian, the leading global information services company, to offer
frictionless and safe mobile account opening. The marriage of Mitek's Mobile
Photo Account Opening™ solution and Experian's fraud prevention and
authentication services will help organizations streamline the account opening
process giving them the ability to take a giant leap toward monetizing the
mobile channel.

Mitek's award winning Mobile Photo Account Opening reduces the friction in the
account opening process by eliminating the notoriously cumbersome and error
prone manual data entry on a mobile device. Consumers simply capture pictures
of the front and the back of their driver's license and the validated data is
automatically populated into the account opening application. Mobile Photo
Account Opening seamlessly integrates with Experian's fraud detection and
prevention platform which offers cutting-edge resources that enable Experian
clients to outpace criminals by detecting, avoiding, and managing fraud
activity — all while helping clients meet mandated government and industry
regulations such as the USA PATRIOT Act, the FACTA Red Flags Rule, and
E-Signature requirements.

"This combined solution addresses two major business needs. First, our Mobile
Photo Account Opening solution will reduce friction for consumers during the
account opening process by enabling them to use the camera on their mobile
device as a keyboard. Secondly, Experian's Precise ID gives clients the most
complete and accurate view of a consumer's identity so they can make the right
decisions," said Scott Carter, Chief Marketing Officer at Mitek. "Together
these solutions will be a valuable asset to any organization that wants to
monetize the popular mobile channel."

"We are pleased to partner with Mitek. This partnership addresses emerging
patterns common in mobile adoption and helps organizations acquire, protect,
and grow their customer bases," said Jon Jones, Senior Vice President, Fraud
and Identity Solutions, Experian Decision Analytics.

Financial institutions are eager to use mobile as a customer acquisition tool
for checking, savings, credit card, and other transactions in the branch, in
the community, and via mobile self services. Other industries like ecommerce,
healthcare, insurance, and social media that are faced with improving the
mobile user experience and at the same time identifying risk in their
exploding mobile user populations will also benefit from this solution.

Like Mobile Deposit®, Mobile Photo Bill Pay®, and Mobile Photo Balance
Transfer™, Mobile Photo Account Opening leverages Mitek' MiSnap™ touch-free
capture technology which automates the image capture process – eliminating
user-error and decreasing transaction processing time.

Those interested in becoming an early adopter of this combined solution can
send an email to sales@miteksystems.com.

Analyst Quotes:

  *According to a December 2012 Forrester Research report, Mobile
    Authentication: Is This My App? Is This My User?, "Users want a seamless
    experience on mobile devices. Users don't want to deal with cumbersome and
    complicated processes for device registration and authentication. They
    just want to interact with the app without security getting in the way; on
    tiny touch screens, complicated authentication measures will prove
    counterproductive. If you don't deliver a seamless experience, users will
    find a way to bypass your restrictions or, in the case of consumers, go to
    your competitors."
    
  *According to a July 2013, Javelin Research & Strategy report, How To
    Upgrade Online and Mobile Account Opening for an Omnichannel Era, "The
    fact that 88.5 million Americans attempted to open an account online or
    with a mobile device in the past 12 months underscores how far digital
    account opening has come in a few short years. Nonetheless, its potential
    remains largely untapped, especially as consumers place growing importance
    on mobile capabilities."

About Experian

Experian is the leading global information services company, providing data
and analytical tools to clients around the world. The Group helps businesses
to manage credit risk, prevent fraud, target marketing offers and automate
decision making. Experian also helps individuals to check their credit report
and credit score, and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a
constituent of the FTSE 100 index. Total revenue for the year ended 31 March
2013 was US$4.7 billion. Experian employs approximately 17,000 people in 40
countries and has its corporate headquarters in Dublin, Ireland, with
operational headquarters in Nottingham, UK; California, US; and São Paulo,
Brazil.

For more information, visit http://www.experianplc.com.

About Mitek

Headquartered in San Diego, CA., Mitek (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, please visit http://www.miteksystems.com. MITK-G

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CONTACT: Mitek Contacts:
        
         Ann Reichert
         Director of Marketing
         pr@miteksystems.com
        
         Katherine Verducci
         MIX Public Relations
         pr@mix-pr.com
        
         Michael Troncale
         Experian
         Michael.Troncale@Experian.com

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