SAN DIEGO, Oct. 19, 2015 (GLOBE NEWSWIRE) -- Mitek (NASDAQ:MITK) (www.miteksystems.com), a leading innovator of mobile capture and identity solutions, today announced that one of the world’s largest online payments companies has begun using its mobile identity verification solution, Photo Verify, to verify the identity of mobile customers worldwide. With Photo Verify, the payments company is making significant improvements in customer experience as well as business processes for verifying a customer’s identity.
“Customer acquisition and payments are increasingly moving to the mobile channel, making verification more important than ever, especially for companies operating in regulated markets,” said James DeBello, president & CEO, Mitek. “Our Photo Verify™ solutions are helping this company transact safely, securely and efficiently in the mobile channel. The mobile ID capture and verification market is gaining momentum with the rapid expansion of mobile commerce by Millennials, and Mitek is uniquely positioned to capitalize on this opportunity with our mobile capture and verification solutions.”
Global market research firm, MarketsandMarkets, estimates that the total market for multi-factor authentication will be $10.7 billion by 2020.
Headquartered in San Diego, CA, Mitek (NASDAQ:MITK) is the leading innovator of mobile capture and identity solutions for customer acquisition. Mitek’s mobile photo technology enables consumers to use the Camera as a Keyboard™ to reduce friction for mobile check deposit, account opening, insurance quoting, payments, and ID document authentication. This innovative mobile technology is licensed by more than 4,100 organizations and used by tens of millions of consumers. In June of 2015, Mitek acquired IDchecker, a global provider of cloud based identity document verification and facial recognition solutions. The acquisition broadens Mitek’s global presence, expands document coverage to more than 3,500 document types and adds international customers in payments, financial services and information services. www.miteksystems.com (MITK-F)
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Source:Mitek Systems, Inc.