Identity Verification Blog | Mitek

false positive

The formula and science behind document authenticity and measures of accuracy, defined

If you're feeling lost in the complicated technology behind a continuous learning identity engine, and unsure of which digital identity verification solution will work best for your business. Here are some further defined metrics to help you understand the identity proofing industry more clearly.

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Positive onboarding friction

A little friction can be a good thing for businesses and consumers

With both account-opening and account-takeover fraud rapidly growing, both businesses and their consumers can benefit from a risk-based approach to friction. The higher risk the transaction, the more friction businesses can consider accepting.

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The correlation between data breaches and account takeover fraud

In the wake of another huge data breach, account takeover fraud can be expected to increase. The best way to prevent account takeover fraud in the wake of massive data breaches is to identity proof any time account takeover is suspected. Read how, here.

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age verification

Trust and safety becomes statewide legislation

In an incident that occurred in early 2018, a California teen found a way to purchase a BB gun, throwing knives and a hunting knife online from a major marketplace. California governor Jerry Brown then signed into law a statewide bill requiring internet retailers to run accurate age verification.

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Money2020

What we learned from Money20/20 2018

Money20/20 2018 is officially in the bag with more than 450 speakers descending on Las Vegas over four days. This year’s agenda covered the critical ways that innovators in payments, commerce and financial services are disrupting tradition and revolutionizing the future of money. Topics ranged from artificial intelligence (AI) and deep learning to blockchain and cryptocurrency, alternative lending and credit, digital identity and biometrics, and more.

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moneygram case study

MoneyGram uses Mobile Verify to reduce fraud loss and account takeover

Learn how MoneyGram integrated Mobile Verify® into 11 websites worldwide in order to achieve their digital onboarding and compliance goals, and to reduce account takeover and payments fraud.

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consumer trust safety

Infographic: Digital trust in the consumer age

Strangers walk our dogs. They drive us around. They deliver our food. They sell us crafts, furniture and clothes. They rent us rooms. They even care for our children and grandparents. When we let people we’ve most likely never met before into our homes and into our lives, we’ve got to trust them unconditionally. But do we? Exactly how much do we actually trust these sites, services and profiles with whom we do business?

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Social Identity Verification

Consumer trust in the digital age Part 2: social media

Social media platforms are among the areas of the web where consumers are most concerned about identity and whether the people and accounts they’re interacting with are legitimate. Increasingly, it is becoming clear that the foundation of trust in the digital channel lies in identity verification.

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Bob Meara's key recommendations for digital customer acquisitions

Bob Meara, senior analyst with Celent’s banking practice, recently developed a vendor spectrum report of identity verification solutions for digital customer acquisition. In it, Meara lists his key industry recommendations for better digital customer acquisition. Read an excerpt here.

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Social ID Verification: Consumer trust in digital channel

Consumer trust in the digital age: Part 1

Read our first installment of a two-part blog series on how today’s era of “Fake News,” bot accounts, wide-scale data breaches and identity theft are affecting consumers’ willingness to conduct business and personal transactions in the digital channel.

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Mitek achieves SOC 2 compliance and ISO 27001 certification

Frank Delker

Mitek is now both SOC 2 compliant and ISO 27001 certified. Both programs provide an international gold standard for best practices in establishing and maintaining internal controls over information security, as well as systems availability.

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Identity verification key to success for cryptocurrency sector

Many believe that growth in the cryptocurrency ecosystem could change the way our global economic system operates. However, success will be unattainable unless crypto can shed its negative reputation. Read how the right balance of security and seamlessness will help.

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International Mobile Verification

Making Online Banking Initiation Legal and Easy (MOBILE) Act: It’s Official

The Making Online Banking Initiation Legal and Easy (MOBILE) Act officially became law on May 24, 2018, authorizing a national standard for banks to scan and retain information from driver’s licenses and identity cards as part of a customer online onboarding process, via smartphone or website.

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Digital Identity Verification

The Need for Identity Verification in the News

Protecting Users, Reducing Fraud, and Complying with KYC Through Identity Verification. Do you want your organization to thrive or simply survive? Protect your customers and ensure AML compliance with Mitek.

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Do ICOs have to Register as Money Service Businesses?

Neal Reiter

Screening contributors for anti-money laundering (AML) and Know Your Customer (KYC) purposes has become industry best practice among issuers of Initial Coin Offerings (ICOs).

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Trust Top of Mind at the KNOW Identity Conference

Kalle Marsal

The issue of trust has broken through as one of the top concerns for leaders across every major industry. Nowhere was this more clear than at One World Identity’s KNOW Identity Conference in Washington last month.

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AML and KYC Compliance Check

The Benefits of Moving to Digital for AML and KYC Compliance

Sarah Clark

Consumers want the convenience of signing up through digital channels, but financial institutions must comply with stringent anti-money laundering (AML) and Know Your Customer (KYC) regulations that typically send new customers out of their preferred (digital) channel for identity verification.

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Mobile_Deposit_Mobile

What does success look like? Working towards the magic mobile deposit adoption rate

Financial institutions should pay close attention to their rate of check deposits in the mobile channel as it is a clear indicator of progress towards broader digital adoption. Currently, 12% of checks deposited by retail banking customers are coming in via the mobile channel; the numbers should be well north of 30%.

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The Time for Mobile Banking to be at The Core of Business Banking is Now

Michael Diamond

Financial institutions should pay close attention to their rate of check deposits in the mobile channel as it is a clear indicator of progress towards broader digital adoption. This is especially important as C2B and B2B checks account for roughly two-thirds of all check deposits and that checks are here to stay for the foreseeable future.

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ID Verification on Phones and Computers

Making Online Banking a Reality in The US: All You Need to Know About the MOBILE Act

Learn all you need to know about the H.R. 1457 Bill, ‘Making Online Banking Initiation Legal and Easy’, better known as the MOBILE Act. This bill creates a national standard to authorize banks and other FIs to scan and retain information from driver’s licenses and identity cards when a consumer opens a bank account online, either using a mobile app or the FI's website.

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