Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity and fraud prevention, has been named a leader in Javelin Strategy & Research’s 2023 Know Your Customer Solution Scorecard. “Know Your Customer (KYC) protocols are the foundation of robust identity verification and play a crucial role in safeguarding against identity fraud and financial crimes,” Javelin said in announcing the scorecard results.
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Mitek named Leader in Javelin Strategy & Research’s 2023 Know Your Customer Solution Scorecard (Graphic: Business Wire)
Javelin’s comprehensive report evaluated and ranked top KYC solution providers catering to the U.S. market, with a focus on financial institutions.
In addition to its overall leader status, Mitek scored first in Use Cases, one of the three main categories used in Javelin’s analysis. Use Cases includes a solution’s applicability to regulatory compliance initiatives and specific KYC-related missions.
In its report, Javelin strongly underscored the importance of dark web scanning capabilities, such as those available to Mitek Check Fraud Defender customers. Currently only 25% of the companies Javelin evaluated offer dark web scanning, a percent Javelin called “shockingly low,” given the importance of dark web scanning in the fight against online fraud.
“Today’s online criminal networks are adept at buying and selling even a snippet of a person’s stolen identity information – perhaps a name, a birth date or a Social Security number – on the dark web that can be used to create a fake identity that then can be used for additional online fraud,” said Chris Briggs, Senior Vice President and Head of Identity for Mitek. “Given the boom in dark web marketplaces, we believe dark web scanning is an essential part of providing the enterprise-grade identity protection banks and financial services require.”
Mitek’s advanced identity verification technologies and global platform make digital access faster and more secure than ever, providing companies new levels of control, deployment ease and operation, while protecting the entire customer journey. Trusted by 99% of U.S. banks for mobile check deposits and 7,800 of the world’s largest organizations, Mitek helps companies reduce risk and meet regulatory requirements.
“To be recognized by Javelin, a leading analyst firm, is an honor,” Briggs said. “Helping companies defend themselves against online fraud is an ongoing responsibility we take personally.”
Mitek (NASDAQ: MITK) is a global leader in digital access, founded to bridge the physical and digital worlds. Learn more at www.miteksystems.com. Follow Mitek on LinkedIn, Twitter and YouTube, and read Mitek’s latest blog posts here.
Angela M. Romei, Mitek Senior Director