Market Overview

Mitek Sets New Identity Verification Standard With One Step Liveness Detection

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SAN DIEGO, Feb. 10, 2020 (GLOBE NEWSWIRE) -- Mitek (NASDAQ:MITK, www.miteksystems.com)), a global leader in digital identity verification solutions, today announced new innovation in its Liveness Detection feature. As the industry-first provider of Liveness Detection, Mitek is extending its technology to offer virtually spoof-proof facial comparison across all digital channels (native and web) – through one simple selfie. There are no additional steps for the consumer.

Mitek's extended Liveness Detection provides customers with additional security against identity fraud, while ensuring a simple and seamless consumer experience – regardless of their preferred channel. A person submits an identity document along with a single selfie image to verify their identity, which are analyzed for facial comparison and composition such as texture, lighting and other factors to detect any form of impersonation. A multi-layered approach simultaneously evaluates for printed photos, video replays, low-quality and realistic silicone masks, doll and mannequin faces. In beta tests, customers saw significant improvements in detecting impersonation attempts.

"Increasingly, your digital identity is your gateway to everything you do in both the digital and physical worlds. It's how you buy goods, send and receive money, and even exchange notes with your doctor," said Stephen Ritter, Chief Technology Officer at Mitek. "Mitek is setting the standard for digital identity verification, enabling enterprises to provide the highest level of security and convenience for consumers everywhere they need it."

While alternative solutions with in-app Liveness Detection offer protection from fraud threats, these often lack safeguards for web browsers. That leaves the more than 37% of consumers who most often interact with their banking accounts through the bank's website vulnerable to attack. The growth of new, more sophisticated forgery technologies like deepfakes means standard image analysis on these websites is no longer enough to verify identity. Omnichannel Liveness Detection helps to close the security gap on web channels by preventing hackers from gaining easy access.

"Liveness Detection completes the identity verification flow, while at the same time ensuring a positive customer experience," said Brian Swanson, Executive Vice President, Head of Consumer Bank at Axos Bank. "At the end of the day, it's about creating that mutual, deep-trusted customer relationship."

Omnichannel Liveness Detection is offered within Mitek's facial comparison technology. Mitek's solutions include Liveness Detection technology with Level 1 Presentation Attack Detection (PAD) Conformance Testing by iBeta and is ISO/IEC 30107-3 compliant.

Learn more about facial comparison with Liveness Detection here.

About Mitek:
Mitek (NASDAQ:MITK) is a global leader in mobile capture and digital identity verification solutions built on the latest advancements in AI and machine learning. Mitek's identity verification solutions enable an enterprise to verify a user's identity during a digital transaction, which assists financial institutions, payments companies and other businesses operating in highly regulated markets in mitigating financial risk and meeting regulatory requirements while increasing revenue from digital channels. Mitek also reduces the friction in the users' experience with advanced data prefill and automation of the onboarding process. Mitek's innovative solutions are embedded into the apps of more than 6,500 organizations and used by more than 80 million consumers for mobile check deposit, new account opening and more. The company is based in San Diego, CA with offices in New York, NY; London, England; Amsterdam, Netherlands; Barcelona, Spain; Paris, France and St Petersburg, Russia. Learn more at www.miteksystems.com. [(MITK-F)]

Follow Mitek on LinkedIn, Twitter and YouTube, and read Mitek's latest blog posts here.

Mitek Contact
Angela M. Romei
Corporate Communications Director
pr@miteksystems.com

Ed Cruz
LEWIS for Mitek
MitekUS@teamlewis.com

 

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