A mobile capture and identity verification software company has launched in the UK with an office in London. US-based Mitek offers financial institutions and other regulated businesses mobile verification underpinned by artificial intelligence (AI) that establishes an individual’s identity remotely. That offers the firm says digitisation of Know Your Customer (KYC) and Customer Due Diligence (CDD) processes for payments.
James DeBello, Chairman and CEO, Mitek, said: “Despite market uncertainty over Brexit, we believe that London will remain the heart of global financial markets for decades to come and our presence there is critical to developing our European footprint. Now is exactly the right time to for Mitek to launch in the UK – financial services providers are facing unprecedented challenges in Europe due to new PSD2 regulation, new AML rules, and the increasing sophistication of fraud. Meeting these challenges while competing with new market entrants and remaining digital-first will mean innovative solutions are a must.”
Mitek’s offering to the European market its Mobile Verify prodict, for verifying a user’s identity by using the device’s camera to check the authenticity of ID documents. The information gathered when verifying an ID can also be used to pre-fill forms. Mobile Verify uses machine-learning. Its AI means that this intelligence is able to respond to ever-changing fraud techniques, the firm adds.
This technology is the firm adds embedded in over 5,000 apps by banks, insurance providers, payments providers, and other financial services. Mitek also offers “selfie authentication”, where the user can use their mobile device’s camera to perform a facial recognition scan to for example authorise a transaction.
The new headquarters coincides with Mitek showcasing its machine-learning passport verification at the Finovate London conference. Visit www.miteksystems.com.
