Identity Verification Blog

Five Reasons UK Financial Institutions Got Millennials Wrong

Osterman Research's Millennials Survey unveils all the reasons financial institutions in the UK have not been able to connect with today's most coveted demographic yet: they target the wrong people, in the wrong place, and at a wrong time.

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

Is KBA the kiss of death for onboarding Millennials and other growth segments?

Javelin's latest white paper explore how financial consumers turn to online and mobile channels to manage their existing accounts and open new ones, boosting digital account opening and adding pressure on institutions to expand their origination platforms with mobile ID scanning capabilities.

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The More Money Millennials Have…The More Mobile Capture They Want

Mitek’s Millennial Survey: Love of Selfies Is Transforming Mobile Commerce reveals how Millennials, particularly the oldest ones – those aged 29 to 34 years old - are shaping today’s economy with their demands for a faster, safer, and more convenient mobile experience. Download our new infographic and learn how to leverage the U.S. largest population's desires for more mobile capture.

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ID Verification for new-to-country in the UK

Welcome ‘new-to-country’ customers: mobile ID verification opens the door for growth in the digital channel

The recent escalation of data breaches affecting millions of consumers globally and the growing sophistication of money laundering and terror funding activities have created lengthening KYC procedures that make it more difficult for financial institutions to onboard international prospects. Mobile ID verification helps banks safely onboard 'new-to-country- customers.

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Leading payments company lifts restrictions on 92% of users after taking ID verification mobile

Mitek’s new case study shows how going mobile with their ID documents verification helped a leading payments company to lift temporary restrictions on 92% of users from around the world.

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What will the future look like for the Payments Industry? More mobile, more secure, faster

This year's edition of Money20/20 will focus on blockchain, regulatory challenges and the opportunities these might bring for uprising regtech companies. Mitek’s Experts will be available at booth number 3227 in the Money20/20 Expo Hall from Monday through Wednesday (24-26, October, 2016) to answer all your questions about how you can leverage mobile capture and omni-channel identity verification to optimize the digital channels for acquisition in a fast, engaging and secure way.

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New REAL ID compliant driver's license USA

REAL ID Act Compliance Deadline Is Now! Are You Ready?

The REAL ID Act, passed in 2005 by the Congress, requires all states to issue driver’s licenses that meet minimum standards for security and identification. Twenty two states and the District of Columbia are fully compliant with the REAL ID Act leaving most of the remaining states and territories operating under an extension through Oct. 10, 2016.

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Expert Advice to Optimize Digital Channels for Acquisition

Ready to embrace the digital transformation? Our Digital Account Opening: How to Increase Your Top Line On-Demand Webinar, hosted by American Banker and co-sponsored by Avoka, offers expert advice on proven ways of optimizing the digital channels for acquisition.

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New Report Ranks 15 top Banks on Mobile Deposit User Experience and Adoption: Capital One, BBVA Compass, and Bank of America lead the pack

Michael Diamond

Mitek commissioned Futurion and Comrade Agency to research any potential correlation between the quality of a bank’s CX and their customer adoption. Download the report in full to discover the existing degree of differentiation between the largest banks’ mobile deposit solutions and find out more about how Capital One, BBVA Compass, and Bank of America are leading the pack.

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AML Practical Guidance for Financial Services in Europe: Making The Most of The 4AMLD

Joe Bloemendaal

Mitek has put together a quick reference guide covering the most recent AML and KYC regulatory developments in Europe. Download this free guide to be better prepared to turn the new regulation’s to your advantage.

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Mobile Capture performed by Mother and Daughter while capturing a check.

Mortgages go mobile with smartphones

Tom Groenfeldt

Mitek's guest writer Tom Groendfelt highlights how Rocket Mortgage by Quicken Loans will help Americans get a mortgage anywhere, anytime, from their smartphone. Mobile document verification enables mortgage providers to speed underwriting and expedite document collection, empowering them to win over tech savvy home buyers such as millennials.

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Capitalizing on customers’ loyalty for higher revenue: “Make it Easy, make it Mobile”

Bringing traditionally time-consuming and cumbersome processes such as identity verification for account opening purposes to the mobile channel means that these formerly burdensome procedures turn into convenient, fast and delightful experiences. In other words: "make it easy, make it mobile; make it secure, make it mobile."

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Optimizing in-branch assisted service with mobile capture and ID verification

How to transform your branch for success with digital ID Verification

Mitek and The Financial Brand have partnered to offer you a new on-demand webinar: Transforming your Branch with Mobile Capture and ID Verification. Learn the best strategies to master the branch revolution and use our downloadable Q&A to drive your digital transformation roadmap.

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Mobile ID verification helps mitigate unintended negative impact of mandatory SIM card registration in the EU

Mobile identity verification, key to mitigate the effects of EU’s mandatory SIM card registration

Joe Bloemendaal

New regulation tends to add pressure to players competing in a highly mature market, and the implementation of severe controls and sanctions for those companies selling anonymous pre-paid SIM cards has been wearily received by different stakeholders in the telecommunications industry.

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Winning strategies to champion the branch transformation race

Interested in learning winning strategies to champion the branch transformation race? Get registered today and join our upcoming webinar, Transforming your Branch with Mobile Capture and ID Verification, to discover effective and profitable ways of improving your in-branch assisted service.

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How does our desktop-to-mobile ID verification work for digital onboarding?

Eliminate customer frustrations when opening a new account. Use Mobile Verify with desktop-to-mobile capabilities to optimize your onboarding with a truly omnichannel identity verification solution that allows you to seamlessly cross systems as the customer moves through each step of the account opening process.

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Infographic_MobileVerify_RegTech_and_Optimized_Onboardin

Mobile identity verification can help banks save 3 billion pounds in costs related to ID fraud

Each year, banks in the UK allocate more than 3.3 billion pounds to identity assurance processes. This post outlines the competitive edge for those banks and financial institutions digitizing their new client onboarding and using mobile identity verification to optimize that process.

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6 Things Banks Can Do To Avoid Losing Big Due To Identity Fraud

With $35,600 lost every minute due to identity fraud in the past six years, welcoming customers to a secure digital environment where they can enjoy a seamless banking experience is not just a key differentiation element for financial institutions but an imperative to keep their edge over competition. Follow these simple steps to improve the security of your mobile onboarding without compromising the quality of the customer experience.

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CNP Focuses On Making Fraud Prevention Profitable

The Card Not Present conference drew more than 1,000 people to Orlando to talk about fraud detection and deterrence. Curiously enough, the focus was less on just stopping fraud and more on how to avoid fraud prevention practices that eat into revenues. Merchants know they will always have some fraud as long as they are in business. While they want to reduce fraud, they think it’s at least as important to avoid stopping good transactions or worse, shutting down a sale in a way that loses a consumer forever.

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Advanced Cash Prevents Fraud Using Instant Mobile ID Document Verification from Mitek

Advanced Cash provides individuals and businesses worldwide with an easy to use and versatile online payment system. Headquartered in Belize, the company’s specialties include payment processing, MasterCard prepaid virtual and plastic cards, P2P transfers, e-wallet platform, B2C affiliate and card payouts.

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