Mitek’s Check Fraud DefenderTM Clinches Top Honor with Datos Insights’ Impact Awards for Pioneering Innovation in Transaction Fraud Monitoring and Decisioning
20 Agosto 2024 - 10:00AM
Business Wire
Mitek Systems Inc. (NASDAQ: MITK) has been named the winner of
the prestigious Best Transaction Fraud Monitoring and Decisioning
Innovation category in the 2024 Datos Insights’ Fraud & AML
Impact Awards. This recognition solidifies Mitek’s position as an
industry leader in fraud detection in financial services,
particularly for its groundbreaking product, Check Fraud DefenderTM
(CFD).
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This award highlights the strides Mitek continues to make in
advancing transaction fraud detection and prevention. CFD sets new
industry standards by employing advanced computer vision and AI
technology to meticulously analyze over 24 unique check attributes.
This results in unparalleled accuracy that far outstrips
traditional methods.
The power behind CFD’s success lies in its cloud-hosted
consortium, which enables fraud analysts to compare check
attributes against a vast repository of check profiles from
participating banks. In addition to these superior detection
capabilities, CFD’s integration with MiVIP’s fraud management
console has dramatically reduced bank agent review times from up to
10 minutes to an astounding 90 seconds. This fortifies defenses and
streamlines the decision-making process, leading to faster, more
accurate fraud detection.
“Check fraud continues to be a significant challenge for FIs,
with many traditional detection methods struggling to keep pace
with evolving fraud tactics,” notes David Barnhardt, a Fraud &
AML Strategic Advisor at Datos Insights. “Mitek Systems’ Check
Fraud Defender addresses this industry problem by combining
advanced AI and computer-vision technologies with a comprehensive
cross-institutional data consortium.”
“We are thrilled to receive this honor from Datos Insights,”
said Michael Diamond, General Manager and SVP, Digital Banking
Solutions. “This award is a testament to our relentless drive to
innovate and protect our customers from the ever-evolving landscape
of financial fraud. CFD represents the future of check fraud
prevention, delivering the speed, accuracy, and adaptability that
today’s financial institutions demand.”
This award underscores Miteks’ unwavering dedication to
advancing fraud prevention technology and reaffirms the company’s
role as a trusted partner for financial institutions worldwide.
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.
About Datos Insights:
Datos Insights delivers the most comprehensive and
industry-specific data and advice to the companies trusted to
protect and grow the world’s assets, and to the technology and
service providers who support them. Staffed by experienced industry
executives, researchers, and consultants, we support the world’s
most progressive banks, insurers, investment firms, and technology
companies through a mix of insights and advisory subscriptions,
data services, custom projects and consulting, conferences, and
executive councils. Visit datos-insights.com to learn more.
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Media inquiries: pr@miteksystems.com
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