Mitek Systems, Inc. (OTC Bulletin Board: MITK) today announced an Original Equipment Manufacturer (OEM) agreement with RDM Corporation (TSX: RC) for Mitek's Check 21 distributed data capture and recognition suite of software.
RDM plans to incorporate Mitek's QuickStrokes Premier Banking Edition, QuickFX, and ImageScore into RDM's Image & Transaction Management System (ITMS) solution for corporate distributed check electronification.
RDM is the one of the first providers to release a full Check 21 imaging solution for corporate billers, allowing it to power distributed corporate check electronification for a growing number of the largest financial institutions in the U.S. RDM's ITMS solution offers a corporate biller the ability to image a check at the point-of-presentment and send the check electronically to the bank for processing, providing speed and efficiency for the corporate biller and bank. Mitek's QuickStrokes Premier Banking Edition, QuickFX, and ImageScore allow the processing data on a check imaged at the point-of-presentment to be read accurately and reliably. Used together, Mitek's suite of software assesses the readability of the image, corrects for poor image quality, and recognizes the processing information on the image. Although not currently used by RDM, Mitek can readily add its FraudProtect software to its Check 21 suite to verify the authenticity of the processed checks and prevent identity theft.
"RDM is always on the leading edge of change in the payments industry," said Tom Kettell, Vice President, Marketing of RDM Corporation. "Leading financial institutions and large corporate billers are increasingly turning to our ITMS solution for check electronification. Mitek's distributed recognition software provides us with the accuracy and reliability we need to meet the most demanding needs in the emerging Check 21 corporate biller market."
"Mitek has the most sophisticated and complete set of software for capturing, authenticating, and using data from check images at the point-of-presentment," said James B. DeBello, Mitek's President and CEO. "From identity verification to data recognition and image usability, our technologies are allowing market leaders like RDM to put the power of check images and electronification to work for leading banks, merchants, and corporations."