Blog | Mitek

Innovation and technology acceleration continues at rapid pace, influencing consumers’ demands for a more digital lifestyle and raising the bar for organisations to meet and exceed those expectations while complying with draconian regulations.

November 23, 2017

Blog Entry

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.

November 20, 2017

Blog Entry

Numbers speak for themselves: the true cost of AML and KYC compliance for banks and payments firms

KYC checks place an enormous cost burden onto financial institutions, which are forced to comply with numerous, stringent regulations that keep growing exponentially. In the case of the KYC & AML compliance burden, the numbers speak for themselves.

November 17, 2017

Blog Entry

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.

October 26, 2017

Blog Entry

Balancing AML and KYC compliance with convenience, a Q&A for the financial industry

Recently, Joe Bloemendaal, Vice President, Sales EU, Mitek; and Chris Phillips, Compliance Department, Gain Capital, discussed online smart ways to reduce friction and cut compliance costs with digital ID verification. Read the Q&A.

October 19, 2017

Blog Entry

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.

September 19, 2017

Blog Entry

Equifax hack, the ultimate wake-up call for KBA advocates: time to embrace stronger means of identity verification

The cyber attack suffered by the U.S. credit rating agency has left hundreds of millions of Americans and hundreds of thousands of Britons more vulnerable than ever to identity theft, considerably increasing the risk of fraud for both businesses and consumers. Equifax data breach is the ultimate wake-up call for regulators to encourage more robust means of identity verification, especially in the digital channel.

September 19, 2017

Blog Entry

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.

September 14, 2017

Blog Entry

The Mitek Mobile Deposit® advantage part II clean images in, great data out with MiSnap

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.

September 8, 2017

Blog Entry

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.

August 28, 2017

Blog Entry

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.

August 8, 2017

Blog Entry

The Mitek Mobile Deposit® advantage part I: a proven scale

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.

August 1, 2017

Blog Entry

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.

July 3, 2017

Blog Entry

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.

June 30, 2017

Blog Entry

Regtech, banks’ key to successfully comply with increasing regulations and delivering seamless UX at scale

Sarah Clark talks to The Banker about how regtech providers such as Mitek leverage the latest artificial intelligence and machine learning advancements to help banks fight rampant fraud, keep at pace with rising and ever-stringent regulation, and still provide a seamless, fast and secure user experience.

June 22, 2017

Blog Entry

Six reasons why you don’t want to miss this year’s Money20/20 Europe

This year’s edition of Money20/20 Europe is all about technology and regulatory-based disruption in the payments, financial services, and retail sectors. We have talked to financial services and fintech thought leaders and they concur: you don't want to miss this opportunity to be part of the financial services revolution.

June 12, 2017

Blog Entry

Customers gain both trust and privacy with a verified online ID

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.

May 31, 2017

Blog Entry

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.

May 25, 2017

Blog Entry

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.

May 3, 2017

Blog Entry

Why compliance matters with blockchain

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.