San Diego, California, September 25, 2023 — Mitek Systems, Inc. (MITK), a global leader in making digital access faster and more secure, announced that it is partnering with Equifax Inc. (EFX), a global data, analytics, and technology company, to further advance biometric identity verification and liveness detection offerings that better protect consumers and businesses from emerging fraud threats.
In February 2023, the Federal Trade Commission (FTC) released data showing that in 2022, there were more than 1.1 million reports of identity theft received through the FTC’s IdentityTheft.gov website. The same year, losses due to fraud cost Americans $8.8 billion, an increase of more than 30 percent over the previous year. Additionally, credit card fraud is proven to be the top form of identity fraud with more than 400,000 reports in the past year. The National Council on Identity Theft Protection shows these statistics are continuing to rise as criminals adopt ever-more sophisticated methods.
Equifax will leverage Mitek’s artificial intelligence-powered biometric identity verification and liveness detection capabilities to continue enhancements within its robust solution offering. This approach is designed to detect complex identity risks throughout the entire customer lifecycle, from onboarding to portfolio servicing, all without impacting customers’ experiences.
“Our objective is to help businesses protect their customers and themselves from risks associated with digital interactions,” said Adam Gunther, Senior Vice President and General Manager of the Digital Solutions team at Equifax. “Providing a safe and secure online environment is critical. We are working closely with partners like Mitek to provide a suite of identity verification and authentication solutions to help address the significant fraud challenges companies face today.”
“We exist to keep people safe in the digital world,” said Gavin Sollinger, Vice President of Strategic Global Alliances at Mitek. “Bad actors will always find new ways to take advantage of people. It is our job to stay ahead of them through the latest advances in artificial intelligence, machine learning, and biometrics. It is an honor to join forces with Equifax, to deploy our pioneering technology to help strengthen consumer identity protection across the world.”
Mitek (NASDAQ: MITK) is a global leader in digital access, founded to bridge the physical and digital worlds. Mitek’s advanced identity verification technologies and global platform make digital access faster and more secure than ever, providing companies new levels of control, deployment ease and operation, while protecting the entire customer journey. Trusted by 99% of U.S. banks for mobile check deposits and 7,500 of the world’s largest organizations, Mitek helps companies reduce risk and meet regulatory requirements. Learn more at www.miteksystems.com.
Angela Romei, Mitek Senior Director