ATLANTA, July 7, 2004 (PRIMEZONE) -- Harland Financial Solutions, Inc., a wholly owned subsidiary of John H. Harland Company (NYSE:JH), announced today that it has acquired certain assets and exclusive distribution and licensing rights related to the CheckQuest(r) item processing and CaptureQuest(r) electronic document management solutions from Poway, California-based Mitek Systems, Inc. The employees of Mitek Systems' electronic item processing and document management business will join Harland Financial Solutions.
Mitek Systems is a leading provider of recognition software-based fraud protection and document processing solutions to banks and other businesses, and licenses its recognition engine toolkits to major software and hardware providers in the imaging and document processing industry.
CheckQuest provides financial institutions with an affordable, high-performance, check imaging and item processing solution that enables them to take full advantage of the efficiencies offered by Check 21. CaptureQuest is an electronic document management system that allows financial institutions to file, distribute, archive, retrieve and automatically process documents and forms of all types and quantities.
As part of the agreement, Harland Financial Solutions has also licensed from Mitek Systems the QuickStrokes(r) family of recognition toolkits and the QuickFX(r) Pro form identification toolkit for use with CheckQuest, CaptureQuest and a variety of other applications.
"Our clients are looking for item processing and electronic document management solutions that enable them to realize the front and back-office efficiencies made possible by Check 21," said John O'Malley, president of Harland Financial Solutions. "Existing users of CheckQuest and CaptureQuest are well positioned to realize these efficiencies. Now, our thousands of bank and credit union clients will have the opportunity to use these products, delivered as either an in-house or service bureau offering," added O'Malley.
"This sale of assets permits us to focus all of our efforts on continuing to develop, deliver and support our core recognition software toolkits and fraud prevention technologies," said James DeBello, president and chief executive officer of Mitek Systems. "We are very pleased that our CheckQuest and CaptureQuest clients, along with the talented employees that support them, are now part of Harland Financial Solutions, an acknowledged market leader in the financial technology space."
About Mitek Systems
Mitek Systems is a premier provider of check fraud protection solutions and check imaging software for the banking industry, and an established global supplier of embedded software recognition engines. Mitek develops recognition technology using advanced neural networking techniques and deploys this expertise in fraud prevention, check, financial document and forms processing applications. These applications automatically process over 8 billion documents per year for a variety of OEMs, reseller partners and end users. For more information about Mitek Systems, contact the company at 14145 Danielson Street, Suite B, Poway, CA 92064; 858-513-4600 or visit http://www.miteksystems.com.
About Harland Financial Solutions
Harland Financial Solutions (http://www.harlandfinancialsolutions.com) supplies software and services to thousands of financial institutions of all sizes. Harland Financial Solutions is a leader in deposit & loan origination, platform, teller, call-center, mortgage, business intelligence, core systems, customer relationship management systems, and compliance training software.
About Harland
Atlanta-based John H. Harland Company (NYSE: JH) (www.harland.net) is listed on the New York Stock Exchange under the symbol "JH." Harland is a leading provider of software and printed products to the financial institution market. Harland's software solutions include, deposit & loan origination, platform, teller, call-center, mortgage, business intelligence, core systems, and customer relationship management systems. Harland's printed products offerings include checks, direct marketing and financial forms. Scantron Corporation (www.scantron.com), a wholly owned subsidiary, is a leading provider of software services and systems for the collection, management and interpretation of data to the financial, commercial and educational markets.
This press release contains statements, which may constitute "forward-looking statements." These statements include statements regarding the intent, belief or current expectations of John H. Harland Company and members of its respective management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Reference is made to the Risk Factors and Cautionary Statements in Harland's Form 10-K and Form 10-Q filed under the Securities Exchange Act.