Mitek Systems, Inc., global leader in mobile capture and digital identity verification, is featured in the latest Gartner report “Market Guide for Identity Proofing and Affirmation,” published on September 11, 2020.
Citing the report’s criteria on "Representative Vendor" selection:
“The listed vendors represent what’s core in the market, what extends it and what will transform it. They were selected on the basis of one or more of the following:
- Vendors offering capabilities that support identity proofing in ways that are unique innovative and/or demonstrate forward-looking product strategies.
- Frequent inquiries by Gartner clients about a particular vendor for identity-proofing use cases.
- Vendors that represent particular market segments or geographic regions, thus helping to illustrate the breadth of the market.
- Fair representation from year-to-year, with rotation of vendors that may have previously met the above requirements, but were omitted simply due to space restrictions.”
Looking at the industry in a broader view: Gartner says most companies’ digital transformation has been accelerated by the COVID-19 pandemic, leading to a renewed focus on the digital onboarding process as critical for doing business. Per our understanding, Gartner recommends security and risk management leaders in 2020 build a business case to invest in and improve identity-proofing aspects of the remote onboarding process.
"Identity best practice is to rely on multi-factor authentication falling into 3 main categories: something you have, something you know, and something you are” says Mitek Chief Technology Officer Stephen Ritter. “Government issued identity documents are the gold-standard in physical identity verification and strong authentication. When you transition this trusted 'something you have' method into a digital channel and combine it with a strong 'something you are' method using facial biometrics, we can empower companies to onboard more good customers with higher assurance. And when organized fraud sometimes appears more organized than some companies, Document Based ID Proofing can be a powerful addition to any new user onboarding solution."
In light of companies and consumers accelerated shift to using digital channels, it’s increasingly valuable vendors like Mitek can provide the industry with better identity assurance levels of customers through key technology and features like facial recognition, ID verification, document verification, and liveness detection. These identity proofing processes can ultimately allow safer and more secure interactions online, as well as limiting potential fraud.
Mitek’s digital identity verification solutions can enable organizations to verify an individual’s identity during transactions online to reduce risk and meet regulatory requirements, while increasing revenue from digital channels. More than 7,500 organizations -from financial institutions to digital marketplaces- use Mitek in customer management and identity authentication services to increase trust and convenience for mobile check deposit, new account opening and more.
Source: Gartner “Market Guide for Identity Proofing and Corroboration,” Jonathan Care, Akif Khan, 11 September 2020.
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