(MITK) Mitek Systems, BancTec Sign Multiyear Agreement.Business Editors SAN DIEGO--(BUSINESS WIRE)--Jan. 25, 2000 Relationship yields industry's premiere unstructured forms recognition system Mitek Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : MITK), a developer of automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. document recognition technology, and BancTec, Inc., a worldwide provider of transaction and document management solutions, have signed a multiyear, multimillion dollar licensing agreement that will integrate Mitek's CogniForms(TM) and Doctus(TM) technology products into BancTec's document processing Processing text documents, which includes indexing methods for text retrieval based on content. See document imaging. solutions family. This integration will allow BancTec to deliver an unstructured forms processing capability that has not previously been available to the industry. Now, a document processing solution will be able to recognize unstructured forms - documents that do not have a predetermined pre·de·ter·mine v. pre·de·ter·mined, pre·de·ter·min·ing, pre·de·ter·mines v.tr. 1. To determine, decide, or establish in advance: format or layout but do share common data elements. &uot;These products represent the most exciting advance in forms processing we've seen in recent years,&uot; said Dave Davenport Dave Davenport (born February 20, 1890 in Alexandria, Louisiana - October 16, 1954), is a former professional baseball player who played pitcher in the Major Leagues from 1914-1919. Davenport would play for the Cincinnati Reds, St. Louis Terriers, and the St. Louis Browns. , BancTec's, vice president of system solutions. &uot; The integration of these technologies complements our comprehensive portfolio of automated document capture and processing solutions and gives us new opportunities to address customers' business problems.&uot; Doctus is Mitek's universal document capture and forms processing system, which automatically recognizes different document types and formats to allow high-speed capture, classification, indexing, recognition, data entry and validation of most documents. CogniForms is the component of the system that enables the classification and recognition of unstructured forms. Corporations and financial institutions receive thousands of forms a day - many of them with multiple formats of the same type of form, such as remittance Money sent from one individual to another in the form of cash, check, or some other manner. Financial statements sent by a creditor to a debtor frequently refer to the process of submitting a monthly remittance. REMITTANCE, comm. law. documents. These documents contain similar data, but often it appears in different places from document to document. CogniForms allows the workflow engine Workflow engine is a software application meant to manage and execute modeled business processes. It is a key component in workflow technology. It will typically make use of a database server. to find and recognize data on machine-printed pages even if the data are in different locations. &uot;The integration of this kind of technology allows BancTec customers the flexibility of having one capture point for multiple documents that have multiple formats with minimal set-up,&uot; said William Boersing, Mitek's vice president of North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. sales. About BancTec BancTec is a worldwide systems integration and services company, specializing in transaction management solutions for a variety of industries. The company is also a leading provider of warranty and maintenance service for leading personal computer companies, corporations and government agencies. Based in Dallas, BancTec employs more than 4,000 people worldwide. For more information on BancTec, visit the company's Web site at www.banctec.com. About Mitek Mitek Systems, Inc. is a worldwide provider of intelligent character recognition In computer science, intelligent character recognition (ICR) is an advanced optical character recognition (OCR) system that allows fonts and different styles of hand writing to be learned by a computer during processing to improve accuracy and recognition levels. technology, products and services for the document imaging markets. The company's document imaging software engine and intelligent character recognition products and services are used in mission-critical and high volume data entry, data capture, and forms processing applications installed in many of the world's leading financial institutions, manufacturing and service companies, and government organizations. For more information about Mitek Systems, please contact the company at 10070 Carroll Canyon Road, San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , CA 92131; 858-635-5900 or visit the company's Web site at www.miteksys.com. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Disclosure With the exception of historical matters, the matters discussed in this news release are forward-looking statements that involve risks and uncertainty. Forward-looking statements include, but are not limited to, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the development and pace of sales of the Company's products, expected trends and growth in the Company's results of operations, projections concerning the Company's available cash flow and liquidity, anticipated penetration in new and existing markets for the Company's products and the size of such markets, anticipated acceptance of the Company's products by existing and new customers, the ability of the Company to sustain any growth in sales and revenue and the increase in sales representatives and other personnel. The Company's actual results could differ in such forward-looking statements. There can be no assurance that the Company will achieve the results set forth herein. Mitek, Doctus and CogniForms are trademarks of Mitek Systems, Inc. All other product or company names may be trademarks or registered trademarks of their respective holders. |
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