About Us

Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

A Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Social Media

Bluesky • Facebook • Instagram • LinkedIn • YouTube

Meet the Laser Focus World Team

Editorial

Sales

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology
My Watchlist
Indicators
Industrial Laser Index
Markets
Stocks
ETFs
Tools
Markets:
Overview
News
Currencies
International
Treasuries

Mitek Introduces Check Fraud Defender

By: via Business Wire

New AI-powered service fights check fraud

Mitek (NASDAQ: MITK), a global leader in mobile capture and identity verification software solutions, today introduced Check Fraud Defender. This is the first artificial intelligence-powered, cloud-hosted consortium for financial institutions to counteract check fraud. An important addition to a financial institution’s fraud-fighting protocols, Check Fraud Defender helps protect against the growing sophistication of check fraud attacks.

A report by the American Bankers Association shared in January 2020 reveals how much fraud banks defend against each year. According to the report, total attempted check fraud increased to $15.1 billion and accounted for 60% of attempted fraud against deposit accounts. The leading check fraud categories were counterfeit checks, forged signatures, and return deposited items.

Trusted technology uses modern image science

Backed by more than 35 years of expertise in digital image capture, mobile deposit and identity solutions, Mitek’s Check Fraud Defender detects forgeries otherwise missed by traditional tools. The service analyzes checks deposited from all channels – mobile, in-branch and ATMs. With Check Fraud Defender’s patented computer vision technology, financial institutions have a higher degree of confidence in fraud detection.

Check fraud is on the rise, and financial institutions see their existing fraud detection processes generate mountains of false positives. This causes them to hire more and more people to sift through false positives in search of fraud, costing significant time and money.

“With Check Fraud Defender, participating financial institutions will have a powerful new signal that will enable them to reduce fraud losses and false positives,” said Michael Diamond, Mitek SVP and General Manager. “In a world where AI and machine learning yield huge benefits, we have a better way forward.”

Mitek’s latest innovation helps financial institutions continue to stay ahead of the fraudsters. One of the top 25 US financial institutions has already licensed Check Fraud Defender and three more are currently using the underlying technology. One of the largest U.S. banks has already experienced up to a 90% savings in manual review time following its initial deployment.

“Although check issue volumes continue to decline, check fraud continues to be a major challenge for financial institutions in the U.S.,” says Shirley W. Inscoe, Aite Group Senior Analyst. “Automating more check fraud detection and lowering false positives (that require manual reviews) can decrease operational costs as well as fraud losses.”

As seen in Mitek’s recent acquisition of ID R&D, Mitek is constantly innovating to provide a range of mobile capture and identity verification solutions to build trust in the digital world. Check Fraud Defender combines the power of Mitek’s mobile deposit and check imaging products with its SaaS-based delivery and fraud-detection identity verification solutions.

Learn more here about Mitek and Check Fraud Defender.

About Mitek

Mitek (NASDAQ: MITK) is a global leader in mobile capture and digital identity verification built on the latest advancements in computer vision and artificial intelligence. Mitek’s identity verification solutions enable organizations to verify an individual’s identity during digital transactions to reduce risk and meet regulatory requirements, while increasing revenue from digital channels. More than 7,500 organizations use Mitek to enable trust and convenience for mobile check deposit, new account opening and more. Mitek is based in San Diego, Calif., with offices across the U.S. and Europe. Learn more at www.miteksystems.com.

Contacts

More News

View More
Datavault AI: The New AI Contender Backed by Big Funding
Via MarketBeat
Topics Artificial Intelligence
Tickers DVLT IBM SCLX
CoreWeave: Why the New King of AI Infrastructure Has Room to Run
Via MarketBeat
Topics Artificial Intelligence
Tickers CORZ CRWV META NVDA
Top 3 Dividend Achievers for October: High Yields, Growth Ahead
Via MarketBeat
Topics Artificial Intelligence World Trade
Tickers FDX PFE UPS VZ
Etsy Partners With OpenAI—What It Means for Investors Now
Via MarketBeat
Topics Artificial Intelligence
Tickers ETSY
3 Solid Consumer Brands Offering Stability in Volatile Markets
Via MarketBeat
Topics Economy
Tickers AOUT JAKK KO PG SN
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.