SAN DIEGO, CA, September 30, 2020 – Mitek (NASDAQ: MITK, www.miteksystems.com), a global leader in mobile capture and identity verification software solutions, has been recognized in the 2020 Gartner Market Guide for ID Proofing and Affirmation report, released Sept. 11, 2020. The report provides key findings and recommendations for security and risk management leaders responsible for identity and access management and fraud detection.
Mitek was recognized among Document-Centric Identity-Proofing Representative Vendors, for its Mitek Mobile Verify® solution. According to Gartner, “These vendors assess the authenticity of an identification document via a submitted image, and also compare a selfie from the customer with the picture in the document. Detection of genuine presence is a key feature to meet the definition of identity proofing.”
“Today’s need for both digital and contactless customer engagements has placed identity assurance at the heart of almost every transaction,” said Mitek Chief Technology Officer Stephen Ritter. “Providing customers with an unobtrusive experience, while also protecting against increasingly sophisticated fraudsters, is becoming a genuine business differentiator. As more businesses continue their digital transformations, placing identity and security at the center of these efforts will become ever more critical.”
Mitek’s technology is trusted by financial institutions and companies around the world to safeguard against identity fraud. Its digital identity verification plus biometric solutions enable businesses to verify the identity of people who want to open new accounts or use their services.
For example, when Instacart announced plans to onboard thousands of new grocery shoppers to meet the surge in demand for home delivery of groceries at the beginning of the pandemic, Mitek helped the company verify new shoppers’ identities, onboarding them into the system as safely and rapidly as possible. And when banks were forced to close their branches earlier this year, Mitek helped many expand their ability to accept mobile deposits, making it possible for their customers to handle essential financial transactions from home.
This trend is only set to continue. The report estimates that “by 2022, 80% of organizations will be using document-centric identity proofing as part of their onboarding workflows, an increase from approximately 30% today. By 2023, 75% of organizations will be using a single vendor with strong identity orchestration capabilities and connections to many other third parties for identity proofing and affirmation, an increase from fewer than 15% today,” according to the report’s findings.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Mitek (NASDAQ: MITK) is a global leader in mobile capture and digital identity verification built on the latest advancements in computer vision and artificial intelligence. Mitek’s identity verification solutions enable organizations to verify an individual’s identity during digital transactions to reduce risk and meet regulatory requirements, while increasing revenue from digital channels. More than 7,500 organizations use Mitek to enable trust and convenience for mobile check deposit, new account opening and more. Mitek is based in San Diego, Calif., with offices across the U.S. and Europe. Learn more at www.miteksystems.com.
Angela M. Romei
Mitek Corporate Communications