- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Mitek Partners with Industry Leader to Improve New Account Opening, Help Businesses Achieve Compliance and Mitigate Fraud Exposure
Mitek (NASDAQ:MITK), a global leader in digital identity verification software solutions announced that it has joined forces Experian to add identity document verification and biometric facial comparison to its data services. The company said that the combination of these technologies will help businesses more easily verify people’s identities in digital channels to deliver a seamless …
Mitek (NASDAQ:MITK), a global leader in digital identity verification software solutions announced that it has joined forces Experian to add identity document verification and biometric facial comparison to its data services.
The company said that the combination of these technologies will help businesses more easily verify people’s identities in digital channels to deliver a seamless new account opening process and achieve compliance and mitigate fraud exposure.
As quoted in the press release:
As part of the collaboration, Mitek’s Mobile Verify® and Mobile Fill® solutions will be integrated within Experian’s CrossCore™ platform. Mitek’s solutions can verify the authenticity of an identification document by analyzing security and other features on the document. To prove the person submitting the document is its owner, the user is asked to take a selfie and that photo is compared to photo on the document. Moreover, the solution can auto populate application forms with the information printed on the identification document.
“With our advanced identity document verification and biometric facial comparison technology now available through Experian’s CrossCore platform, we’re able to provide businesses with strong identity assurance in the digital channel,” said James B. DeBello, chairman and CEO, Mitek. “As a result, customers are able to maximize profitability by booking more new accounts and eliminating the time-consuming and costly, manual review processes.”
Javelin Strategy & Research began tracking identity fraud in 2003. The study found that despite industry efforts to prevent identity fraud, fraudsters successfully adapted to net 1.3 million more victims in 2017, with the amount stolen rising to $16.8 billion. With the growing rate of identity theft and fraud schemes, businesses struggle to properly identify and authenticate legitimate consumers during application processing or existing account management activity.
“When it comes to combatting fraud, businesses need to be vigilant in protecting people’s identities. The use of data and analytics can help them make more informed decisions to better recognize legitimate customers and detect fraudulent activity. At the same time, they still need to ensure a positive experience for the customer,” said Steve Platt, Experian’s group president of Decision Analytics and Data Quality. “The addition of Mitek’s advanced technology with our robust set of fraud capabilities, means businesses have more options to address both of those objectives.”
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.