Mitek’s Mobile Verify® Helps Consumer Finance Organization Approve More Than 1,000 Additional Applicants Daily
June 15 2017 - 7:00AM
Mitek (NASDAQ:MITK) (www.miteksystems.com), a global leader
in mobile capture and identity verification software
solutions, today announced that its Mobile Verify® is helping a
large online consumer finance organization increase approvals on
more than 1,000 additional applications daily. Traditional online
verification was not effective for the thousands of qualified
applications this Mitek customer received from young, immigrant or
other good applicants with thin credit files. Mobile Verify now
enables this customer to approve these many applications that
otherwise might have been lost during the enrollment process.
Previously, a significant percentage of all applicants in this
customer’s digital channel couldn’t be verified through traditional
data checks. These applicants were placed into a pended queue,
awaiting an identity verification process that required an
in-person identity check or faxing in an ID document. As a result,
the majority of them never completed the identity verification
process, which meant the organization was losing most of these
applicants because they lacked a solid digital identity
verification process.
“Mitek’s technology gives organizations the ability to quickly
say ‘yes’ to more good customers in the digital channel,” said
James DeBello, Chairman and CEO, Mitek. “Thanks in part to Mitek’s
technology, this customer is experiencing a tremendous boost in
customer acquisition rates that will positively impact their
revenue and profitability this year.”
About MitekMitek (NASDAQ:MITK) is a global
leader in mobile capture and identity verification software
solutions. Mitek’s ID document verification allows an enterprise to
verify a user’s identity during a mobile transaction, enabling
financial institutions, payments companies and other businesses
operating in highly regulated markets to transact business safely
while increasing revenue from the mobile channel. Mitek also
reduces the friction in the mobile users’ experience with advanced
data prefill. These innovative mobile solutions are embedded into
the apps of more than 5,600 organizations and used by tens of
millions of consumers for mobile check deposit, new account
opening, insurance quoting, and more. For more information,
visit www.miteksystems.com or www.miteksystems.co.uk.
(MITK-F)
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Mitek Contact:
Ann Reichert
Senior Director of Marketing
pr@miteksystems.com
Katherine Verducci
MIX Public Relations
pr@mix-pr.com
Mitek Investor Contacts:
Todd Kehrli or Jim Byers
MKR Group, Inc.
mitk@mkr-group.com
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