Mitek Systems

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Mitek Systems, Inc.
TypePublic
Nasdaq: MITK
Russell 2000 Component
IndustryIdentity Verification Services
Founded1986
Headquarters
San Diego California
,
USA
Key people
Max Carnecchia (CEO); Jeff Davidson (CFO)
Websitewww.miteksystems.com

Mitek Systems, Inc is a software company that specializes in digital identity verification and mobile capture built on artificial intelligence algorithms. The company's technology allows people to deposit checks via their mobile phones[1] and open bank accounts from mobile devices.[2] Additionally, the technology verifies people’s identity with patented algorithms that capture, classify, and authenticate photos of identity documents such as passports, ID cards, and driver's licenses.[3] The identity of the person holding the document is confirmed through a biometric facial comparison of the photo on the document to a selfie.

History[]

The company was founded in 1986 and is headquartered in San Diego, California.[4]

In 2011, it was announced that Mitek was turning their mobile imaging technology toward the health care and insurance industries, in addition to mobile banking.[5]

In 2014, USAA and Mitek Systems, Inc. settled a 2+1⁄2-year-old dispute over the invention of the technology used for mobile check deposit, with both companies' patents remaining intact and neither side paying the other.[6]

On May 26, 2015, the company acquired IDchecker, a provider of cloud-based identity document verification and facial recognition products.[7]

On October 16, 2017, the company acquired Icar Vision Systems, a Spanish company specializing in customer identity verification.[8]

References[]

  1. ^ "This guy just saved big banks on Wall Street $620M". New York Post. 2016-07-13. Retrieved 2018-05-17.
  2. ^ CNBC.com, Elaine Pofeldt, Special to (2013-09-17). "It's simple 'apponomics': Cash is no longer king". CNBC. Retrieved 2018-05-21.
  3. ^ "Fintech Spawns Regtech to Automate Compliance With Regulations". www.bna.com. Retrieved 2018-05-21.
  4. ^ "MITK Company Profile & Executives - Mitek Systems Inc. - Wall Street Journal". quotes.wsj.com. Retrieved 2018-03-21.
  5. ^ "Mitek Extends Check Imaging Tech to Health Care, Insurance". PCWorld. Retrieved 2018-05-21.
  6. ^ "Mitek, USAA End Dispute Over Mobile Deposit Patents". American Banker. Retrieved 2018-03-21.
  7. ^ "Mitek acquires IDchecker for mobile identity services". www.mobilepaymentstoday.com. 2015-05-27. Retrieved 2018-03-21.
  8. ^ "Mitek Systems Acquires Spanish Company". San Diego Business Journal. Retrieved 2018-03-21.
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