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Banca de Quinielas de Montevideo Processes Over 1.5 Million Game Tickets Per Month With Mitek's Forms Processing System.

Business Editors/High-Tech Writers

POWAY, Calif.--(BUSINESS WIRE)--Sept. 16, 2002

Banca de Quinielas Purchases Doctus(R) System License

Mitek Systems, Inc. (Nasdaq:MITK), a developer of automated document processing technology, today announced that Banca de Quinielas de Montevideo (Banca), a processor for the Uruguay National Lottery, has purchased software licenses and professional services for Mitek's Doctus(R) forms processing system. The Banca is using Doctus to process over 1.5 million tickets per month for three different types of lottery games at its headquarters in Montevideo, Uruguay.

Prior to the purchase of Doctus, the Banca was using another recognition-based software product to process its game tickets. After learning that support for this product was going to be dropped, the company started looking for another solution. After an extensive evaluation of various forms processing products, the Banca chose the Doctus solution. The initial production runs show that Doctus is more accurate and efficient than the prior system, reducing the number of keystrokes and speeding up the operation. In addition, the Doctus solution is providing the organization with important labor savings.

"With the previous system, we needed sixteen validation terminals, but with Doctus we were able to reduce that number to seven, with proportionate cost savings," said Federico Kereki, Systems Manager at the Banca.

Game tickets are sold by dealers until 4 p.m. Soon afterward, the game tickets start arriving at the Banca via courier. At 6 p.m., tickets can no longer be received and the processing begins in a secure room at the processing center. The lottery numbers are drawn at 6 p.m., however, the results of the draw are kept confidential from the Banca processing staff. The ticket processing is completed that evening, usually between 10 p.m. and midnight.

The quantity of game tickets processed by Doctus ranges from approximately 50,000 to a peak of 90,000 per night, with up to four bets per ticket. The information on these forms consists of mark sense boxes, machine printed and hand printed data. Three high-speed NCR 7780 transports are used at the Banca processing operation to capture the information from the game tickets.

"Even though we just recently went into production using Doctus, we are already experiencing reductions in manual data entry and improvements in the efficiency of our operation. We anticipate even better results with significant labor savings as we continue to make adjustments to the system," added Kereki.

About Banca de Quinielas

The Banca has been in business for nearly sixty years and processes all of the national lottery game tickets within the department of Montevideo, Uruguay. The government of Uruguay grants a license to specified organizations, such as the Banca, to provide this service. The Banca consolidates the bets received from its 87 member agents, controls them, centralizes financial documentation, maintains a common game fund for paying customer winnings and acts as a tax retention agent for the government. For more information, visit the Banca de Quinielas de Montevideo Web site at www.quinielauruguaya.com.uy.

About Mitek Systems

Mitek Systems, Inc. is a worldwide provider of intelligent character recognition technology, products and services for the document and check imaging markets. Mitek'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, contact us at 14145 Danielson Street, Suite B, Poway, CA 92064; 858-513-4600 or visit our Web site at www.miteksys.com.

Forward-Looking Statement 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 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, Mitek Systems and Doctus are registered 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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Publication:Business Wire
Geographic Code:3URUG
Date:Sep 16, 2002
Words:766
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