Identity Verification Blog | Mitek

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.

Read Blog Post

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.

Read Blog Post

Mobile Pre Filling Data

A sneak peek into 2018: Blockchain-banks partnerships bloom and digital KYC checks go mainstream

Aimed at providing a sneak peek into 2018, we have leveraged our unique insights and market knowledge, predicting five key changes that will redefine the future of financial services, shake up the sharing economy as we know it today and help organizations around the world enable the truly digital lifestyle consumers demand.

Read Blog Post

How to get ready for the future of ID & KYC with digitized identity verification

Expert Advice – How to get ready for the future of ID & KYC with digitized identity verification

To gain a competitive edge, remain compliant, and offer a frictionless and user experience, it is imperative for FIs to invest in technologies that bridge the compliance-convenience gap.

Read Blog Post

AML and KYC compliance burden for banks and payments firms

The AML and KYC compliance burden for banks and payments firms, by the numbers

Much has changed since legislators supporting the Bank Secrecy Act (BSA) emphasized back in 1970 that the new law would not be a burden to financial institutions because they already kept most of the records required. Almost fifty years after the BSA was published, the burden for financial institutions having to comply with numerous, stringent regulations has nothing but grown exponentially.

Read Blog Post

2017 Mobile Deposit Benchmark Report

2017 Mobile Deposit Benchmark Report – A Must-Have Playbook for FIs to Succeed With Their Digital Endeavors

Jim Van Dyke, founder of Futurion and mobile banking expert, presents his new research, the 2017 Mobile Deposit Benchmark Report, and shares his insights about how financial services in the U.S. should optimize their mobile deposit customer experiences to take their onboarding to the next level.

Read Blog Post

KYC AML Identity Verification

Equifax hack: a catalyst for more secure and convenient identity verification processes

The cyber attack suffered by the U.S. based credit rating agency has left hundreds of millions of Americans more vulnerable than ever to identity theft, dramatically increasing the risk of fraud for both businesses and consumers, and forcing regulators to re-think their approach to secure and user-friendly methods of identity verification.

Read Blog Post

Mobile Check Deposit

The Mitek Mobile Deposit® Advantage Part II Clean Images In, Great Data Out with MiSnap

Michael Diamond

This is the second installment of a series of posts where we outline the journey we have been on since inventing Mobile Deposit® for the financial industry. This post emphasizes how a successful mobile check deposit experience always starts with a great image capture.

Read Blog Post

mobile capture and identity verification for loan origination

How to leverage identity verification to take on the $100 billion digital lending opportunity

Learn how lenders delivering on consumers’ expectation for a seamless loan application experience are staying on top of impending competition to win the $100 billion digital lending opportunity.

Read Blog Post

Compliance Gap in Payments with Digital Identity Verification

Bridging the Convenience – Compliance Gap in Payments with Digital Identity Verification

Top players in the payments industry have realized the potential of digital identity verification to bridge the convenience-compliance gap. Those that are already leveraging it are gaining a competitive edge and saving millions in potential losses to fraud and hefty fines for non-compliance.

Read Blog Post

Mobile Deposit

The Mitek Mobile Deposit® Advantage Part I - Proven Scale

Michael Diamond

This is the first installment of a series of posts where we outline the journey we have been on since inventing Mobile Deposit® for the financial industry. We will share some of the insights we’ve gained and why they matter to the broader industry. This first post highlights the importance of scale as financial services rapidly move toward digital channels.

Read Blog Post

ID Verification Sharing Economy

Building trust in the sharing economy – using ID document verification to create trusted online identities

The sharing economy is expected to grow from $14 billion in 2014 to $335 billion by 2025, based on the pace at which companies such as Uber and Airbnb are growing. A crucial bone to this sky-rocketing growth is creating trust in an increasingly device-connected world where the majority of transactions are conducted online.

Read Blog Post

The Banker_Interview_Sarah_Mitek_GM-Identity_Money2020Europe2017

Regtech helps banks meet increasing compliance while delivering seamless UX at scale

The Banker’s Joy Macknight interviews Mitek’s General Manager for Identity, Sarah Clark, about how the latest regulatory developments and compliance requirements have forced banks to a tipping point where regtech rises as the best way forward.

Read Blog Post

ID Card Verification

Customers gain both trust and privacy with a verified online ID

Irwin M.N. Oedayrajsingh Varma, initiator and CEO, JanusID

JanusID's CEO discusses how, in order to perform digital transactions in a high-privacy, low-risk way, end-user needs to have a trusted online identity account through which data from verified sources can be accessed and how the key to set it up successfully requires having a verified ID document of the user.

Read Blog Post

Selfie Authentication

Securing the 2 billion mobile payments opportunity with selfie capture for identity verification

With mobile commerce in the U.S. expected to grow 29% or more annually and as digital wallets gain acceptance, the number of mobile payments authenticated by biometrics has explosively grown, being estimated to reach 2 billion transactions this year. Digital identity verification technology can help you tap on this opportunity. Discover how.

Read Blog Post

Mother and Daughter Capturing Check with Mobile Deposit

An open letter to the banking industry

In just a few months, we will be celebrating the tenth anniversary of Mitek's launch of Mobile Deposit® – a product now offered by 5,600 banks, credit unions and brokerages under their own brand.

Read Blog Post

Why compliance matters with blockchain

Roel Boer, Nocks

Roel Boers, co-founder and CEO at Nocks, explains why verifying the identity of end users is key to a compliant and secure blockchain ecosystem. He also highlights the benefits of ensuring that all required identity verification is done upfront, so customers can quickly and securely access all payment options.

Read Blog Post

KYC AML Identity Verification

Leveraging mobile ID verification to get up to speed with U.S. AML regulations

During the past 50 years, there’s been a flurry of AML activity, only expected to grow given the gaps present in the existing regulations. Standards are higher, and penalties for failure to comply are harsher. Learn how mobile capture and ID document verification can help FIs meet AML compliance.

Read Blog Post

ID Verification on Phones and Computers

Five unsung advantages of mobile identity verification for omnichannel customer acquisition

Read this post to get access to Celent's newest report on Omnichannel Customer Acquisition. Get a better understanding of how the preference for onboarding in the mobile channel is on the rise, making it imperative for banks to fulfil customers' demands to close the deal whenever and wherever they decide to onboard.

Read Blog Post

ID_Fraud_data from CIFAS_UK_March_2017

ID fraud reaches an all-time high in the UK as consumers - and fraudsters - live and breathe online

Recent research shows how identity fraud keeps rising in the UK, fuelled by data breaches and weak security methods such as knowledge-based authentication. Digital identity verification helps mitigate the risk of identity fraud in the digital channels.

Read Blog Post