Mitek named leader in Liminal’s analysis of companies offering account opening protection
28 September 2023 - 10:00PM
Business Wire
Liminal, a leading advisory and market intelligence firm
specializing in the digital identity, cybersecurity and fintech
markets, has named Mitek Systems, Inc. (NASDAQ: MITK), a leader in
its highly anticipated Link™ Index Report for Account Opening in
Financial Services.
The report evaluated more than 120 providers offering account
opening compliance and fraud prevention for banks and financial
services companies. It highlighted Mitek as one of only 22% of
those surveyed that currently possess the necessary product
capabilities to meet buyer demands, spotlighting Mitek’s document
verification and biometric-based systems, as well as its patent
portfolio.
Account opening fraud is increasingly common. Online criminals
attempt to use stolen or fake identification information to open
fraudulent accounts, particularly at financial institutions. Once
successfully opened, these fake accounts can serve as a springboard
to other online financial crimes and high losses for financial
institutions.
According to Bank Info Security, some banks report that as many
as 50% or more of new account opening requests are fraudulent.
Demonstrating effective protocols to thwart this type of fraud is
an important part of regulatory compliance.
“Navigating intricate account opening protocols required to
thwart online criminals while ensuring a seamless customer
experience has become a top priority for financial service
providers,” said Will Charnley, Director at Liminal. “This report
will help companies make wise decisions when seeking an identity
protection partner."
"Liminal is such a respected source of guidance and information.
We at Mitek are honored to be recognized in this inaugural report,”
said Chris Briggs, Senior Vice President and Head of Identity at
Mitek. “Companies rely on us to help them protect against account
opening fraud, and we take that responsibility seriously. We
continue to innovate to ensure that we are always at the forefront
of the battle against online fraud.”
To further explore how Mitek helps financial institutions safely
and securely manage new account opening requests, visit
www.miteksystems.com.
About Mitek
Mitek (NASDAQ: MITK) is a global leader in digital access,
founded to bridge the physical and digital worlds. 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. Learn more at www.miteksystems.com. Follow
Mitek on LinkedIn, Twitter and YouTube, and read Mitek’s latest
blog posts here.
About Liminal
Liminal is a market intelligence and strategic advisory firm
serving digital identity, fintech, cybersecurity solution
providers, and the private equity and venture capital community.
Since 2016, Liminal has provided strategy and analytical services
that support executive decision-making at all product or business
lifecycle stages. We advise some of the world’s most prominent and
innovative business leaders, investors, and government officials on
building, buying, and investing in the next generation of digital
identity solutions and technologies. Learn more at www.liminal.co
and follow news and updates from Liminal on LinkedIn or subscribe
to their weekly newsletter.
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version on businesswire.com: https://www.businesswire.com/news/home/20230928265786/en/
Angela Romei, Mitek Senior Director pr@miteksystems.com
Mitek Systems (NASDAQ:MITK)
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