Mitek’s Check Fraud DefenderTM Clinches Top Honor with Datos Insights’ Impact Awards for Pioneering Innovation in Transaction Fraud Monitoring and Decisioning
Mitek Systems Inc. (NASDAQ: MITK) has won the Best Transaction Fraud Monitoring and Decisioning Innovation category in the 2024 Datos Insights' Fraud & AML Impact Awards for its Check Fraud Defender™ (CFD) product. CFD uses advanced computer vision and AI technology to analyze over 24 unique check attributes, offering superior accuracy compared to traditional methods.
The product's success is driven by its cloud-hosted consortium, allowing fraud analysts to compare check attributes against a vast repository of check profiles from participating banks. Integration with MiVIP's fraud management console has reduced bank agent review times from up to 10 minutes to just 90 seconds, enhancing defenses and streamlining decision-making for faster, more accurate fraud detection.
Mitek Systems Inc. (NASDAQ: MITK) ha vinto la categoria Migliore Innovazione nel Monitoraggio e nella Decisione delle Frodi nelle Transazioni agli Award di Impatto sulle Frodi e AML di Datos Insights 2024 per il suo prodotto Check Fraud Defender™ (CFD). Il CFD utilizza avanzate tecnologie di visione artificiale e AI per analizzare oltre 24 attributi unici dei controlli, offrendo un'accuratezza superiore rispetto ai metodi tradizionali.
Il successo del prodotto è alimentato dal suo consorzio ospitato nel cloud, che consente agli analisti antifrode di confrontare gli attributi dei controlli con un vasto repertorio di profili di controlli provenienti da banche partecipanti. L'integrazione con la console di gestione frodi di MiVIP ha ridotto i tempi di revisione degli agenti bancari da fino a 10 minuti a solo 90 secondi, migliorando le difese e semplificando la decisione per una rilevazione delle frodi più rapida e accurata.
Mitek Systems Inc. (NASDAQ: MITK) ha ganado la categoría de Mejor Innovación en Monitoreo y Toma de Decisiones sobre Fraudes en Transacciones en los Premios de Impacto en Fraudes y AML de Datos Insights 2024 por su producto Check Fraud Defender™ (CFD). El CFD utiliza tecnologías avanzadas de visión por computadora y AI para analizar más de 24 atributos únicos de cheques, ofreciendo una precisión superior en comparación con los métodos tradicionales.
El éxito del producto se debe a su consorcio alojado en la nube, que permite a los analistas de fraudes comparar los atributos de los cheques con un vasto repositorio de perfiles de cheques de bancos participantes. La integración con la consola de gestión de fraudes de MiVIP ha reducido los tiempos de revisión de agentes bancarios de hasta 10 minutos a solo 90 segundos, mejorando las defensas y agilizando la toma de decisiones para una detección de fraudes más rápida y precisa.
Mitek Systems Inc. (NASDAQ: MITK)가 2024 Datos Insights의 사기 및 AML 영향 상에서 최고의 거래 사기 모니터링 및 결정 혁신 부문에서 Check Fraud Defender™ (CFD) 제품으로 수상했습니다. CFD는 첨단 컴퓨터 비전 및 AI 기술을 사용하여 24개 이상의 독특한 수표 속성을 분석하여 기존 방법보다 우수한 정확성을 제공합니다.
이 제품의 성공은 클라우드 호스팅 컨소시엄 덕분에 이루어집니다. 이 컨소시엄은 사기 분석가들이 참여하는 은행의 방대한 수표 프로필 데이터베이스와 수표 속성을 비교할 수 있게 합니다. MiVIP의 사기 관리 콘솔과의 통합으로 은행 직원의 리뷰 시간을 최대 10분에서 단 90초로 단축시켜, 방어를 강화하고 보다 빠르고 정확한 사기 감지를 위한 의사결정을 간소화했습니다.
Mitek Systems Inc. (NASDAQ: MITK) a remporté la catégorie Meilleure Innovation en Surveillance et Décision sur la Fraude des Transactions lors des Prix Impact Fraude & AML 2024 de Datos Insights pour son produit Check Fraud Defender™ (CFD). Le CFD utilise une technologie avancée de vision par ordinateur et d'IA pour analyser plus de 24 attributs uniques des chèques, offrant une précision supérieure par rapport aux méthodes traditionnelles.
Le succès du produit repose sur son consortium hébergé dans le cloud, permettant aux analystes de la fraude de comparer les attributs des chèques avec un vaste répertoire de profils de chèques des banques participantes. L'intégration avec la console de gestion de la fraude MiVIP a réduit le temps de révision des agents bancaires de jusqu'à 10 minutes à seulement 90 secondes, renforçant ainsi les défenses et rationalisant la prise de décision pour une détection des fraudes plus rapide et précise.
Mitek Systems Inc. (NASDAQ: MITK) hat in der Kategorie Beste Innovation im Monitoring und in der Entscheidungsfindung bei Transaktionsbetrug beim 2024 Datos Insights Fraud & AML Impact Awards für sein Produkt Check Fraud Defender™ (CFD) gewonnen. CFD verwendet fortschrittliche Computer Vision und KI-Technologie, um über 24 einzigartige Scheckattribute zu analysieren und bietet eine überlegene Genauigkeit im Vergleich zu traditionellen Methoden.
Der Erfolg des Produkts basiert auf seinem cloud-basierten Konsortium, das es Betrugsanalysten ermöglicht, Scheckattribute mit einem umfangreichen Repositorium von Scheckprofilen von teilnehmenden Banken zu vergleichen. Die Integration mit MiVIPs Betrugsmanagement-Konsole hat die Überprüfungszeiten der Bankangestellten von bis zu 10 Minuten auf nur 90 Sekunden verkürzt und dabei die Verteidigungen gestärkt und die Entscheidungsfindung für eine schnellere und genauere Betrugserkennung optimiert.
- Won prestigious award in Transaction Fraud Monitoring and Decisioning Innovation category
- Check Fraud Defender™ analyzes over 24 unique check attributes using advanced AI and computer vision
- Cloud-hosted consortium enables comparison of check attributes across participating banks
- Reduced bank agent review times from 10 minutes to 90 seconds
- Recognized as industry leader in fraud detection for financial services
- None.
(Graphic: Business Wire)
This award highlights the strides Mitek continues to make in advancing transaction fraud detection and prevention. CFD sets new industry standards by employing advanced computer vision and AI technology to meticulously analyze over 24 unique check attributes. This results in unparalleled accuracy that far outstrips traditional methods.
The power behind CFD’s success lies in its cloud-hosted consortium, which enables fraud analysts to compare check attributes against a vast repository of check profiles from participating banks. In addition to these superior detection capabilities, CFD’s integration with MiVIP’s fraud management console has dramatically reduced bank agent review times from up to 10 minutes to an astounding 90 seconds. This fortifies defenses and streamlines the decision-making process, leading to faster, more accurate fraud detection.
“Check fraud continues to be a significant challenge for FIs, with many traditional detection methods struggling to keep pace with evolving fraud tactics,” notes David Barnhardt, a Fraud & AML Strategic Advisor at Datos Insights. “Mitek Systems’ Check Fraud Defender addresses this industry problem by combining advanced AI and computer-vision technologies with a comprehensive cross-institutional data consortium.”
“We are thrilled to receive this honor from Datos Insights,” said Michael Diamond, General Manager and SVP, Digital Banking Solutions. “This award is a testament to our relentless drive to innovate and protect our customers from the ever-evolving landscape of financial fraud. CFD represents the future of check fraud prevention, delivering the speed, accuracy, and adaptability that today’s financial institutions demand.”
This award underscores Miteks’ unwavering dedication to advancing fraud prevention technology and reaffirms the company’s role as a trusted partner for financial institutions worldwide.
About Mitek
Mitek (NASDAQ: MITK) is a global leader in digital access, founded to bridge the physical and digital worlds. 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. Trusted by
Follow Mitek on LinkedIn and YouTube, and read Mitek’s latest blog posts here.
About Datos Insights:
Datos Insights delivers the most comprehensive and industry-specific data and advice to the companies trusted to protect and grow the world’s assets, and to the technology and service providers who support them. Staffed by experienced industry executives, researchers, and consultants, we support the world’s most progressive banks, insurers, investment firms, and technology companies through a mix of insights and advisory subscriptions, data services, custom projects and consulting, conferences, and executive councils. Visit datos-insights.com to learn more.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240820453648/en/
Media inquiries: pr@miteksystems.com
Source: Mitek Systems Inc.
FAQ
What award did Mitek Systems (MITK) win in 2024?
How does Mitek's Check Fraud Defender™ (CFD) work?
What improvement in review time does Mitek's CFD offer?
Who recognized Mitek Systems (MITK) for its fraud detection innovation?
