SAN DIEGO, CA and LONDON, UK, May 3, 2017 – Mitek (NASDAQ: MITK, www.miteksystems.com), a global leader in mobile capture and identity verification software solutions, today announced that a leading Canadian provider of affordable borrowing solutions for consumers will be integrating Mitek’s Mobile Fill® into its mobile web application to help employees in retail stores streamline new applications for consumer financing.
“Mobile Fill dramatically improves the lending application experience for both consumers and in-store employees,” said James DeBello, Chairman and CEO, Mitek. “The faster, easier experience will ultimately lead to more new accounts, which has economic value to both the lender and the retailer.”
With Mobile Fill, the camera on a mobile device is used to snap a picture of an applicant’s identity document. The data from the document is uploaded directly into the application form, eliminating the time-consuming and error prone paper application process. Mobile Fill uses sophisticated machine learning algorithms to capture, classify, extract and pre-fill data from the identity document.
Consumer borrowing has maintained healthy growth in Canada, which can lead to increased competition among firms offering consumer financing programs as they attempt to attract and enroll new customers. Mobile Fill provides a competitive advantage by creating a quick and engaging application process that can help retailers increase sales through consumer financing programs and also help the lender approve more good applicants, faster.
Mitek (NASDAQ: MITK) is a global leader in mobile capture and identity verification software solutions. Mitek’s ID document verification allows an enterprise to verify a user’s identity during a mobile transaction, enabling financial institutions, payments companies and other businesses operating in highly regulated markets to transact business safely while increasing revenue from the mobile channel. Mitek also reduces the friction in the mobile users’ experience with advanced data prefill. These innovative mobile solutions are embedded into the apps of more than 5,600 organizations and used by tens of millions of consumers for mobile check deposit, new account opening, insurance quoting, and more. For more information, visit www.miteksystems.com or www.miteksystems.co.uk. (MITK-F)
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MIX Public Relations
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