Mitek Named to 2024 AIFinTech100 List

Rhea-AI Summary

Mitek Systems (NASDAQ: MITK) has been recognized on the 2024 AIFinTech100 list by FinTech Global as one of the most innovative AI solution providers in financial services. Selected from over 2,000 companies, this accolade highlights Mitek's advanced AI capabilities in digital identity verification and fraud prevention. According to Mitek's 2024 Identity Intelligence Index, 76% of banks believe fraud and scams have grown more sophisticated, with AI-generated fraud being a top concern for 37% of respondents. Mitek's solutions include identity verification, multi-modal biometric authentication, and deepfake detection to combat these threats. Chris Briggs, Mitek's SVP of Identity, emphasized their commitment to pioneering AI innovations to protect customers globally. The AIFinTech100 list aims to inform senior decision-makers about leading vendors in the market. The full list is available at www.AIFinTech100.com.

Positive

• Mitek recognized on the 2024 AIFinTech100 list for innovative AI solutions.
• Selected from over 2,000 companies by industry experts.
• Highlights Mitek's portfolio in identity verification and fraud prevention.
• 76% of banks acknowledge increased sophistication in fraud tactics.
• 37% of banks cite AI-generated fraud as a top concern.
• Commitment to pioneering AI innovations to stay ahead of fraudsters.
• Informs senior decision-makers about leading vendors in the financial sector.

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• None.

Recognized by FinTech Global as One of the World’s Most Innovative AI Solution Providers

SAN DIEGO--(BUSINESS WIRE)-- Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity and digital fraud prevention announced today its inclusion in the 2024 AIFinTech100. The list, published by FinTech Global, recognizes the world’s most innovative AI solution providers for financial services.

Finalists were chosen by a panel of industry experts and analysts based on FinTech Global’s research of over 2,000 FinTech companies. The solution providers making the list are recognized for using AI to solve a significant industry problem or generate cost savings or efficiency improvements across the financial services value chain.

FinTech Global director Richard Sachar said, “The new AIFinTech100 list gives senior decision-makers the knowledge of the best vendors in the market and those leading the charge on innovation.”

According to Mitek’s 2024 Identity Intelligence Index, more than three-quarters of banks believe that fraud and scams have become more sophisticated (76%). AI-generated fraud was cited as the top concern for 37% of respondents. Mitek is tackling these threats with a portfolio of identity verification, multi-modal biometric authentication, liveness and deepfake detection solutions.

"Financial institutions worldwide rely on Mitek's AI-powered identity verification and fraud detection solutions to safeguard themselves and their customers against both current and emerging threats," said Chris Briggs, Mitek's SVP of Identity. "We are dedicated to pioneering AI innovations that keep our customers ahead of fraudsters, and we are honored to be recognized on this prestigious list," Briggs added.

A full list of the AIFinTech100 is available to download for free at www.AIFinTech100.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240618644086/en/

Investor:

Todd Kehrli or Jim Byers

MKR Investor Relations, Inc.

mitk@mkr-group.com

Source: Mitek Systems, Inc.

FAQ

What is the significance of Mitek being named to the 2024 AIFinTech100 list?

Mitek's inclusion in the 2024 AIFinTech100 list signifies recognition as one of the most innovative AI solution providers in financial services, highlighting its advanced technologies in identity verification and fraud prevention.

How were companies selected for the 2024 AIFinTech100 list?

Companies were selected by a panel of industry experts and analysts from FinTech Global, based on their research of over 2,000 FinTech companies, focusing on the use of AI to solve industry problems or generate cost efficiencies.

What concerns do banks have regarding fraud, according to Mitek's 2024 Identity Intelligence Index?

According to Mitek's 2024 Identity Intelligence Index, 76% of banks believe fraud and scams have become more sophisticated, with 37% citing AI-generated fraud as a top concern.

What solutions does Mitek offer to combat fraud?

Mitek offers a range of solutions including identity verification, multi-modal biometric authentication, liveness detection, and deepfake detection to combat fraud and safeguard financial institutions.

Where can I find the full list of the 2024 AIFinTech100?

The full list of the 2024 AIFinTech100 is available for free download at www.AIFinTech100.com.