The 1000 pound gorilla is laying face down in the middle of the room. Top Image has the patent for the next big vertical.
I'm not sure you will see any bank giving Mitek mobile photo bill payment a try now that Top Image was given a U.S. patent for full page documents. Just announced this morning.
Jor you are reaching now. Allied would not partner with TIS if they were happy with the current offering. Obviously, TIS is enhancing the solution.
I have been saying for a long time that Mitek has monolithic apps and that the industry wants a total solution. This is a perfect example of the Mitek app not doing enough and not doing it well enough.
right off the release.............................. and TIS' proven recognition and image capture technology via MobiPAY will significantly improve the automated entry of payments in Allied's system.
This is obviously an upgrade to what Mitek has been supplying.
He posted 2 articles or commentaries in Bank Systems and Technology as recent as 8/8/2014. The article mentioned Amazon new Fire phone with 4 or 5 camera lenses pointed at the user for selfies. The article focused on smartphone cameras and facial recognition by taking a selfie.
The former Green Dot CTO who joined Mitek in 2012 has just announced he is leaving Mitek. He was billed as a game changer when Mitek hired him and it seems odd that he left the company one day after a court ruling in the Mitek / USAA case went in USAA favor. I wonder where he is going to land?
Looks like Mitek might have lost the case against USAA. Every TIS shareholder should look at the Mitek message board to get a sense of whats going on. There was apparently an article in some San Antonio business magazine on Aug. 14th. Also, Mitek Chief Technology Officer left the company Aug 15th after two years. I hope this bodes well for Mitek vs. TIS lawsuit. TIS recent SEC filing says they still believe the suit is without merit.
There was a slide that eluded to another possible acquisition in the future. I noticed a slide that showed Q3 revs to be over 12 million with addition of E-gistics quarterly rev. That would be a home run quarter if they can pull it off. I bought shares the day after earnings and again this morning.I I think the days at this 4$ level will soon end.