Author Topic: MITK - Mitek Systems  (Read 15835 times)

Castanza

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Re: MITK - Mitek Systems
« Reply #60 on: March 20, 2020, 07:43:41 AM »
Thoughts on this with potential government checks on the horizon?

They have a monopoly in mobile check deposit. They could be seeing a lot more customers in the near future.
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patientcapital

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Re: MITK - Mitek Systems
« Reply #61 on: March 21, 2020, 10:37:59 AM »
The lawsuit with Wells is troublesome for MITK because they could be liable to Wells to cover the damages.

This obviously would bankrupt the company / make he equity worth $0.

They gave a very evasive answer when asked about the possibility of this happening.

While there's a lot to like about the growth story for MITK, you have to assume there's is a real chance it's a zero.


GregS

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Re: MITK - Mitek Systems
« Reply #62 on: March 23, 2020, 11:07:04 AM »
Thoughts on this with potential government checks on the horizon?

They have a monopoly in mobile check deposit. They could be seeing a lot more customers in the near future.

Regardless of government checks, I think the coronavirus will be good for their business. Mobile check deposit is a cash cow that will continue during the crisis. A lot of people will try it for the first time as they won't want to use the ATM.  They will become recurring customers.

That said, I can't imagine the sales pipeline for their ID technology looks very good right now. But at least they will be able to fund operations with the check business.