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Mitek Makes Digital Access Faster and More Secure Than Ever
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Mitek has launched the Mitek Verified Identity Platform (MiVIP), enhancing identity verification for companies to protect customers throughout their digital journey. Recent statistics highlight that almost 50% of U.S. citizens faced identity theft from 2020 to 2022, costing billions. MiVIP streamlines the onboarding process, allowing for faster identity verification, optimized workflows, and quick integration in hours thanks to its low code/no code architecture. With its advanced technologies, Mitek remains a trusted partner for 99% of U.S. banks and 7,500 global organizations.
Positive
Launch of MiVIP platform enhances digital identity verification.
Platform enables faster onboarding and risk management.
99% of U.S. banks utilize Mitek's technology, ensuring a strong market position.
Negative
None.
New easy-to-deploy identity platform puts companies in controlthroughout entire customer journey
SAN DIEGO--(BUSINESS WIRE)--
As consumers transact more business online than ever, identity verification has become essential to safe digital access. Now Mitek is making it possible for companies to protect customers’ digital experiences from the moment they open an account through their entire journey.
Almost 50% of U.S. citizens were victims of some form of identity theft between 2020 and 2022, according to the National Council on Identity Theft Protection. Most common forms of identity fraud included account takeover, when an actual user’s information is misappropriated, starting a new financial account with a fraud victim’s information, and information theft, such as Social Security identity theft. In 2020, the traditional identity theft cost to companies and consumers was estimated to be about $13 billion.
Similarly, data gathered by Finanso, a global financial marketplace, found that 56% of Europeans have experienced at least one type of fraud in the last two years. Of those, one-third became victims of identity theft. Thus, identity theft has become the second-most-common type of fraud in Europe.
Many of the world’s largest global banks and 99 percent of U.S. banks use Mitek’s technological innovation. Backed by decades of experience and held to the highest standards as a publicly-traded company, Mitek is uniquely positioned to help organizations establish trust with authentic customers by providing the identity systems that grant them safe digital access.
“Identity is personal. At Mitek, we are on a mission to protect it,” said Mitek CEO Max Carnecchia. “Mitek’s new platform, MiVIP, is a culmination of our best technologies, our most recent acquisition and our ongoing commitment to putting Mitek’s customers in control of their consumer experiences.”
MiVIP, the Mitek Verified Identity Platform, gives companies comprehensive, secure control, saving them time and money, in three important ways:
Verify fast: Verifying the identity of customers is now faster and easier than ever, allowing companies to securely onboard more good customers while providing the experience they expect.
Take control: Optimizing workflows has never been easier. Organizations have the tools to both control the customer experience and manage risk.
Quickly integrate: Deploying now takes hours instead of days or weeks. The platform is built on a low code/no code architecture that saves companies time and resources.
“Never has there been a more relevant time to effectively onboard customers faster,” said Mitek Head of Product Chris Briggs. “Organizations want control over their customers’ Know Your Customer (KYC) experiences. MiVIP provides an easy-to-deploy, highly adaptable and robust identity verification platform that can integrate with a company’s fraud and risk workflows in hours. Journeys can be configured to fit varying needs, ensuring customers are verified quickly and with minimum friction.”
Mitek (NASDAQ: MITK) is a global leader in digital access, founded to bridge the physical and digital worlds. Trusted by 99% of U.S. banks and 7,500 of the world’s largest organizations, Mitek helps companies reduce risk and meet regulatory requirements. 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. Learn more at www.miteksystems.com. Follow Mitek on LinkedIn, Twitter and YouTube, and read Mitek’s latest blog posts.
What is the Mitek Verified Identity Platform (MiVIP)?
MiVIP is Mitek's new identity verification platform designed to enhance the security and efficiency of digital customer onboarding.
How does MiVIP improve identity verification?
MiVIP allows companies to verify identities faster, optimize workflows, and integrate quickly with existing systems.
How many banks use Mitek's technology?
Mitek's technology is utilized by 99% of U.S. banks, showcasing its strong presence in the market.
What recent statistics highlight the need for identity verification?
Between 2020 and 2022, nearly 50% of U.S. citizens experienced identity theft, underscoring the importance of secure identity verification solutions.
What are the key benefits of using Mitek's MiVIP?
Key benefits include faster customer onboarding, better control of customer experiences, and reduced integration time due to its low code/no code architecture.
