Identity Mind, Mitek Partner to Thwart Account Creation Fraud
Feb. 11, 2016
Risk management and regulatory compliance technology provider IdentityMind and identity verification solutions provider Mitek have partnered to enable companies to ensure users opening online accounts are who they say they are. IdentityMind will leverage Mitek technology in its platform to capture official identification documents like drivers’ licenses and passports on a mobile device, verify those documents are real and match the user.
“The ability to verify physical documents is an important tool for validating the identity of unbanked, underbanked or international customers,” said Garrett Gafke, president and CEO of IdentityMind Global. “We are excited to partner with Mitek on providing this fully integrated service within the platform so our customers will have certainty their users are presenting genuine, unaltered ID documents for digital financial services.”
The capability will enable IdentityMind clients like, banks, insurance companies or retailers to verify the identity of users trying to establish new accounts. According to recent research , account creation fraud, fraudsters using stolen credentials and information to establish new accounts they can monetize without the victim’s knowledge, surged in the last quarter of 2015.