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Mitek Systems (NASDAQ: MITK), a global leader in digital identity verification, mobile capture, and fraud management, has appointed Ed West as its new Chief Executive Officer and Board member, effective immediately. Scott Carter, who served as Interim CEO since June 2024, will transition to non-executive Chairman of the Board.
West brings extensive experience in driving top-line growth through innovative product development and business model transformation. His background includes leadership roles as CEO, COO, and CFO in public and private companies, ranging from startups to Fortune 100 firms. Most recently, he served as CEO of Cardtronics plc (NASDAQ: CATM), where he led the company's transformation from a hardware-centric business to a broader financial services solutions provider, achieving double-digit organic growth in the US and expanded EBITDA margins.
The appointment aligns with Mitek's strategy to modernize its platform and expand into new verticals, leveraging West's expertise in building fintech partnerships, integrating digital solutions, and optimizing efficiency through data and analytics.
On June 17, 2021, Cardtronics announced an expanded partnership with CVS Health, enabling the Allpoint network of surcharge-free ATMs at 50 Longs Drugs locations in Hawaii. This collaboration enhances ATM access for Allpoint participants, with the aim of providing convenient cash transactions. Cardtronics operates the world's largest retail-based surcharge-free ATM network, featuring over 40,000 ATMs in the U.S. and 55,000 globally. The expansion strengthens Cardtronics' presence in Hawaii and supports their commitment to cash accessibility.
Cardtronics announced a partnership with Unit, a banking-as-a-service platform, to integrate its Allpoint Network of surcharge-free ATMs. This collaboration will allow Unit's clients to provide fee-free cash withdrawals and deposits through over 55,000 ATMs nationwide, enhancing customer access to financial services. The partnership aligns with both companies' goals to increase financial access and convenience for users. This marks a significant step in integrating physical banking options into digital services, leveraging Cardtronics' extensive ATM network.
Cardtronics (CATM) reported its Q1 2021 financial results, revealing total revenues of $267.8 million, a 12.6% decline year-over-year, primarily due to pandemic-related restrictions impacting international operations. The U.S. segment demonstrated growth with a 6% increase in same-store withdrawals. Net income slightly rose to $5.9 million, while adjusted EBITDA increased by 9.2% to $69.6 million. The company also reported a net debt reduction of $24.3 million. Shareholders approved the acquisition by NCR for $39.00 per share, anticipated to close in mid-2021.
The upcoming shareholder meetings for Cardtronics (Nasdaq: CATM) are set for May 7, 2021, regarding the potential acquisition by NCR Corporation (NYSE: NCR). Shareholders must vote on the scheme of arrangement, with a minimum of 75% approval required. Proxy cards for both the Court Meeting and General Meeting have been sent to shareholders. The Cardtronics Board recommends voting 'FOR' all proposals. Votes must be submitted by May 6, 2021, at 11:59 p.m. EDT. For further details, shareholders can contact Georgeson LLC.
Cardtronics announces a partnership with Fortú to provide fee-free cash access for Latino and Hispanic-Americans through the Allpoint ATM Network. This collaboration allows Fortú members to utilize over 55,000 ATMs located at prominent retail establishments without incurring surcharges. The initiative aims to address the unique financial needs of the Latino community in the U.S., emphasizing the significance of cash transactions. Cardtronics, with its extensive ATM network, continues to promote inclusive financial solutions.
Cardtronics has partnered with Marqeta to integrate the Allpoint Network of 55,000 surcharge-free ATMs into Marqeta's card issuing platform. This collaboration aims to enhance accessibility for consumers by providing fee-free cash access at retail locations across the U.S. The partnership positions Marqeta's offerings in a competitive digital banking landscape, emphasizing convenience for fintech customers. Cardtronics operates the world's largest retail-based ATM network, with over 285,000 ATMs globally.
Ahead Financials and Cardtronics have partnered to enhance cash access for Ahead Visa® Debit Card customers, offering fee-free withdrawals at over 40,000 Allpoint ATMs in the U.S. This collaboration supports Ahead's mission to provide better financial health pathways for underbanked individuals. The partnership allows users to access their funds conveniently and without surcharge, aligning with Ahead’s goal of financial inclusivity. Cardtronics operates the world’s largest retail-based surcharge-free ATM network, enhancing ease of access for customers.
Cardtronics (CATM) reported its Q4 and full-year 2020 financial results amid ongoing pandemic challenges. Q4 revenue fell 18.9% to $274.8M, and annual revenue decreased 18.9% to $1.09B. GAAP net income for Q4 was $9.6M, down from $12.6M a year earlier, with adjusted EBITDA showing a 4.2% increase to $81.4M. The company announced an acquisition agreement with NCR Corporation at $39.00 per share, expected to close by mid-2021. Despite revenue declines, Cardtronics secured new partnerships and increased its cash flow, positioning itself for long-term growth.
Cardtronics has partnered with Clair to provide fee-free cash access to Clair members at over 55,000 Allpoint ATMs. This collaboration allows hourly workers instant access to their wages without membership fees or interest charges, promoting financial inclusivity. Clair's mission is to empower workers by eliminating hidden fees and providing convenient cash access. The Allpoint network, the largest surcharge-free ATM network globally, supports this initiative, ensuring workers can withdraw their earnings seamlessly.
