Mitek Supercharges Financial Institutions’ Ability to Detect Check Fraud With MiControl
15 Febrero 2024 - 7:00AM
Business Wire
Fraud analysts achieve a sixfold increase in productivity
detecting check fraud
Mitek Systems, Inc. (NASDAQ: MITK) today introduced MiControl, a
comprehensive fraud management console that works with Mitek’s
Check Fraud Defender. MiControl quickly detects check fraud,
reduces losses and further increases consumers’ online security.
With its advanced visualizations and overlays, paired with business
rules configured by the bank or financial institution, MiControl
can decrease the time it takes for a fraud analyst to review and
make a decision about a suspect check from up to 10 minutes to
about 90 seconds.
Despite the increasing use of digital payment options among
banking customers, financial institutions worldwide still process
billions of checks each year, and the rate of check fraud continues
to climb. Suspicious activity reports for check fraud at depository
institutions more than tripled between 2018 and 2022, up 201.2%
between those years, according to Financial Crimes Enforcement
Network (FinCEN) data. Between January and October of 2023, 447,525
suspicious activity reports (SAR) indicated another record setting
year for check fraud.
“MiControl combines check and fraud data intelligence to achieve
operational efficiency,” said Kerry Cantley, Mitek VP of Digital
Banking Strategy. “It provides bank fraud analysts with more
information to make their decisions and presents it all in an
easy-to-use visual format. Processing checks through these
additional levels of protection via MiControl’s visual dashboard
allows banks to make fast and accurate decisions to better protect
their customers.”
MiControl also helps banks analyze and visualize their fraud
trends and hot spots, including geographies or types of businesses
that are experiencing higher levels of fraud. This analysis allows
financial institutions to adjust their fraud detection protocols
and business rules accordingly.
For more information:
- Learn how MiControl and Check Fraud Defender work here.
- Watch a short one-minute video about MiControl here.
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 7,900 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 and YouTube, and read Mitek’s latest
blog posts here.
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version on businesswire.com: https://www.businesswire.com/news/home/20240215196947/en/
Media inquiries: Angela Romei, Mitek Senior Director
pr@miteksystems.com
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