Mitek’s Mobile Verify Selected by New Cryptocurrency Trader, DXE
July 03 2018 - 7:00AM
Mitek (NASDAQ:MITK), a global leader in digital identity
verification solutions, today announced it will provide automated
ID verification for new cryptocurrency trading platform, DXE.
Mitek’s Mobile Verify solution will help DXE provide KYC-compliant
identity verification for all customers from the platform’s go live
date, as part of DXE’s ambition to stay ahead of future regulatory
requirements. Mitek’s technology is part of DXE’s efforts to
provide compliant customer onboarding ahead of the enforcement of
the revised Anti-Money Laundering Directive (AMLD5), which has been
extended to cryptocurrency wallets and exchanges.
DXE’s vision is to provide a service that makes cryptocurrency
trading more accessible for its customers. Aimed at those less
proficient in digital currencies, Netherlands-based DXE will
simplify the process of buying and selling cryptocurrency for its
customers. Also part of DXE’s goal is to ensure proper
due-diligence and KYC processes are adhered to. The anonymity of
cryptocurrency has put it in danger of being seen as the newest
form of “shadow banking” – attracting the attention of regulators.
With increasing regulatory pressure in the industry, DXE has
enlisted the help of Mitek in its efforts to ensure the company can
be as transparent and compliant as possible right from the launch
date.
Using Mobile Verify, which employs advanced AI and machine
learning algorithms, DXE can verify all new customers that register
for the platform in real-time. New applicants can capture an image
of their ID documents using the camera on their smartphone. Mitek’s
software provides data to allow our customers to authenticate the
documents submitted to them. This enables fast, frictionless
on-boarding that helps DXE satisfy future KYC onboarding
regulations.
“We wanted to partner with Mitek to demonstrate that we are a
platform that could be trusted, by both regulators and the public,
said Ernstjan Overduin, CEO, DXE. We pride ourselves on making
cryptocurrency trading simple and accessible for the everyday user.
Mitek’s Mobile Verify offers a solution that helps us be both
compliant with future regulations and is compatible with our vision
for a simple customer experience.”
“As cryptocurrency continues to become mainstream there is a
greater responsibility for legitimate businesses to adopt the KYC
processes used in other regulated markets,” said René Hendrikse,
Managing Director for EMEA, Mitek. “Pressure from regulators is
growing fast so companies like DXE are right to get everything
“above board” with measures in place to verify the identity of
their customers. At Mitek we want to ensure that the introduction
of secure identity verification is seamless for the customer to
speed up the registration process.”
About MitekMitek (NASDAQ:MITK) is a global
leader in digital identity verification solutions built on the
latest advancements in AI and machine learning. Mitek’s identity
verification solutions allow an enterprise to verify a user’s
identity during a digital transaction. This enables financial
institutions, payments companies and other businesses operating in
highly regulated markets to mitigate financial risk and meet
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
processes. Mitek’s innovative solutions are embedded into the apps
of more than 6,100 organizations and used by more than 80 million
consumers. For more information,
visit www.miteksystems.com or www.miteksystems.co.uk.
(MITK-F)
Mitek Contact:Nicole LouisCCgroup for
Mitekmitek@ccgrouppr.com +44 203 824 9200
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