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Mitek Systems acquires French artificial intelligence firm for $50 million

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San Diego's Mitek Systems, best known for powering mobile check deposit apps for major U.S. banks, has acquired French artificial intelligence firm A2iA for $50 million in cash and stock. The deal boosts Mitek's check processing and document verification capabilities, as well as expands its footprint into overseas markets. A2iA's check scanning technology, which can recognize cursive handwriting, is used by numerous U.S. financial institutions. It is also deployed in all United Kingdom banks and 90 percent of French and Brazilian banks. In all, A2iA operates in 42 countries and processes documents in 11 languages.

  artificial intelligence, french artificial intelligence firm, mitek, (14 more...)
  Genre: Financial News (0.73)
  Industry: Banking & Finance (1.00)