Mitek (NASDAQ:MITK), a leading innovator of mobile capture and identity solutions, today announced that it has received reorders from two Mobile Deposit® partners, one in the US and one in Canada, totaling $1.7 million. These agreements closed in Mitek’s fiscal 2015 fourth quarter and consisted of $1.4 million in software license revenue and $0.3 million in annual maintenance revenue.
“These reorders reflect the high quality, easy-to-use Mobile Deposit experience that Mitek is delivering to both U.S and Canadian banking institutions,” said James B. DeBello, president & CEO, Mitek. “We have seen rapid growth in adoption of our Mobile Deposit solution in Canada since it was released by Canadian banks in 2013. In fact, from June 2014 to June 2015 Canadian adoption grew over 300%. As a global leader in mobile capture and identity solutions and the leading mobile deposit solution in the U.S. banking industry, we are focused on the significant opportunity for growth in both the U.S. and internationally as consumers increasingly adopt the mobile self-service model.”
Mobile Deposit is licensed by more than 4,100 banks and loved by over 50 million users.