Considering that the data based identity verification methods most institutions rely on today are greatly weakened due to data breaching, time is now to take identity verification to the next step and move away from already disputed “What you Know” methods.
Chris Lemmon writes that older Millennials display different financial priorities and technology preferences than their younger counterparts. Mitek’s Sarah Clark advises FIs to cater to their needs by providing secure ID verification in transactions.
San Diego-based Mitek, makers of smartphone camera technology banks use widely for mobile deposit, bets that selfies will soon play a bigger role in payment security, and it's encouraged by a new study detailing how much Millennials love taking photos of themselves.
San Diego - The world can be a pretty bad place, but a crackdown on shadowy exchanges of money could be a good thing for Mitek Systems Inc.
The company sees business ahead thanks to tighter laws to stop money laundering, according to Kalle Marsal, who recently took the job as Mitek’s chief marketing officer.
Mike Dautner quotes Mitek CMO Kalle Marsal in saying that selfie comparison software is an easy way to carry out identity verification, authorize purchases, enroll new customers and achieve compliance in an increasingly regulated mobile world.
While a small proportion of Millennials currently use their smartphone camera to authorize purchases, nearly half of them said they would do so if the option were available. Heather McIlvaine elaborates on selfie comparison solutions, including Mitek’s.
Robert Stowe England writes 2 in 3 banking consumers aged 18 to 29 years old did some type of mobile banking in the prior year, and how banks have responded by launching apps with Mitek software that can mobile deposit checks in seconds.
Telis Demos tells how business loan company Kabagge was rejecting up to 3% of its daily prospect borrowers due to fraud risk. Now, thanks to Mitek's ID verification software, the lending company anticipates getting that rate down to about 0.5%.
Simon Brooke tells how as mobile payments gain in popularity, fraud is also on the rise, requiring speedy tech solutions to thwart the fraudsters. He quotes Mitek’s ID verification software as a solution to this dangerous problem.
According to PYMNTS.com, a partnership with Mitek and Backbase partnership takes Mitek’s OCR and ID document verification abilities via the Backbase Open Banking Marketplace, creating a frictionless onboarding process.
Tanya Andreasyan writes how Mitek’s document validation capabilities are now available through the Backbase Open Banking Marketplace; users of the flagship omnichannel platform can now add Mitek’s tools to their digital banking experience.
Jim Marous, Co-Publisher of The Financial Brand and Publisher of the Digital Banking Report tells how a Mitek study proves a correlation between mobile banking app design, user experience and adoption rates.
Banks that provide an excellent mobile deposit (MD) app have a markedly higher customer adoption, according to a new study from Futurion, a banking consultancy.
Great blogging debut by our very own Sarah Clark.