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Mitek First to Offer Omnichannel ID Verification Experience

SAN DIEGO and SAN JOSE, Calif., May 10, 2016 (GLOBE NEWSWIRE) -- Mitek (NASDAQ:MITK) (www.miteksystems.com), a global leader in mobile capture and identity verification software solutions, will debut the first desktop-to-mobile ID document verification experience and new device ID capabilities for its Mobile Verify™ solution today at the FinovateSpring 2016 event. The new features strengthen Mitek’s industry leading identity verification platform, which mitigates the risk of application fraud and improves customer acquisition in the mobile channel.

At the event, Mitek will demonstrate the first omnichannel enrollment process that can begin with a desktop application and be completed on a mobile device. After starting the process on a desktop computer, the applicant is texted a link to activate the camera to capture a photo of their license to be verified in the online session. The company will also demonstrate a new capability that seamlessly combines a driver license verification with a cross check of device ownership.

“Now in addition to mobile account opening, Mitek enables safe and secure customer acquisition using a desktop computer, providing financial institutions with a truly omnichannel ID document verification experience,” said Sarah Clark, general manager, Identity Business Unit, Mitek. “This omnichannel process, coupled with our new device ownership capability, makes Mitek’s Mobile Verify the most powerful identity verification platform on the market today.”

Mobile Verify has the potential to replace the Knowledge Based Authentication (KBA) methods that are currently used to verify a user’s identity. According to Gartner, difficult to answer KBA questions do not stop fraudsters and only create hurdles for customers. An average of 15 to 30 percent of customers fail identity proofing challenges based on personally identifiable information (PII data) and life history questions, while up to 60 percent of criminals pass. Mobile Verify allows organizations to meet regulatory requirements while also optimizing the mobile channel for customer acquisition and secure transactions.

Mitek will present its latest mobile offering during Demo Session 4 on Tuesday, May 10 between 2:50 and 4:10 p.m. PT.

About Mitek
Mitek (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 user experience with advanced data prefill. These innovative mobile solutions are embedded into the apps of more than 5,000 organizations and used by tens of millions of consumers daily for new account opening, insurance quoting, mobile check deposit and more. Learn more at www.miteksystems.com. (MITK-G)

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Mitek Contact: Ann Reichert Senior Director of Marketing pr@miteksystems.com Katherine Verducci MIX Public Relations pr@mix-pr.com Mitek Investor Contacts: Todd Kehrli or Jim Byers MKR Group, Inc. mitk@mkr-group.com

Source:Mitek Systems, Inc.