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Mesh, a B2B Identity Startup Founded by Ex-Amazon Execs, Unveils Multi-Factor Business Identity Solution for Marketplaces, Ecommerce, Compliance; Bolsters Leadership with Industry Veterans

Retrieved on: 
Wednesday, February 7, 2024

Their findings among financial institutions echo Mesh’s insights on buyer and seller onboarding in ecommerce, marketplace trust, and vendor compliance.

Key Points: 
  • Their findings among financial institutions echo Mesh’s insights on buyer and seller onboarding in ecommerce, marketplace trust, and vendor compliance.
  • "Mesh has effectively addressed the challenges of establishing business trust and navigating compliance with their innovative Business and Entity Verification solution.
  • Mesh’s journey from License Verification to a Business and Entity Verification (BEV) solution signifies an evolution into a complete, end-to-end business identity platform.
  • With 30+ years of senior Amazon experience, Diego Asenjo (CEO), Tony Bryan (CTO), and founding engineers rounded out their leadership team with industry veterans.

New Abrigo Fraud Detection Platform Helps Financial Institutions Fight Fraud Faster and Smarter With AI, Reduce Mounting Losses

Retrieved on: 
Thursday, February 1, 2024

Abrigo, a leading provider of financial crime prevention and risk management solutions for U.S. financial institutions, today announced the launch of Abrigo Fraud Detection, a new platform that combines AI-powered inspection and check image analysis with a smart, configurable fraud decision engine.

Key Points: 
  • Abrigo, a leading provider of financial crime prevention and risk management solutions for U.S. financial institutions, today announced the launch of Abrigo Fraud Detection, a new platform that combines AI-powered inspection and check image analysis with a smart, configurable fraud decision engine.
  • “Abrigo Fraud Detection offers our 2,400 existing customers, and new customers, enhanced fraud detection accuracy and efficiency.
  • “Abrigo Fraud Detection stands out by offering a highly configurable yet user-friendly interface, allowing financial institutions to tailor fraud detection to their specific needs.”
    Abrigo Fraud Detection has launched today with check fraud detection, and capabilities will expand to detect fraud across additional transaction types, including wire and FedNow , throughout 2024.
  • For more information and to try out Abrigo Fraud Detection, visit our website .

Mitek Named to Digital ID & Authentication Council of Canada

Retrieved on: 
Tuesday, January 23, 2024

Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity and fraud prevention, has been appointed to the Digital ID & Authentication Council of Canada (DIACC).

Key Points: 
  • Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity and fraud prevention, has been appointed to the Digital ID & Authentication Council of Canada (DIACC).
  • DIACC is the world’s only digital trust, credentials and identity verification association with a mission to unlock the full potential of the global digital economy by placing privacy and people-centered benefits at the center of the digital identity movement.
  • As a member of DIACC, Mitek will join the Trust Framework and Adoption committees and other impactful forthcoming initiatives related to digital trust capabilities.
  • “DIACC’s mission and principles mirror Mitek’s commitment to the development of a robust, secure, scalable, inclusive and privacy-enhancing digital ecosystem,” Mitek SVP Chris Briggs said.

Mitek Named Winner at FinTech Finance 2023 FF Awards Ceremony

Retrieved on: 
Thursday, December 21, 2023

Mitek Systems, Inc. (NASDAQ: MITK) was named winner in the Identity Verification and Know Your Customer category at FinTech Finance’s 2023 FF Awards ceremony Nov. 28 in London.

Key Points: 
  • Mitek Systems, Inc. (NASDAQ: MITK) was named winner in the Identity Verification and Know Your Customer category at FinTech Finance’s 2023 FF Awards ceremony Nov. 28 in London.
  • FinTech Finance covers the global financial services sector.
  • The FF Awards honor innovation in products, services and solutions that address challenging issues and drive meaningful change in the financial services sector.
  • The FinTech Finance award recognizes Mitek's tenure, financial strength and strong reputation in the financial services industry and ground-breaking AI-driven fraud and identity innovations,” said Mitek CEO Max Carnecchia.

Consumer Acceptance of Biometrics Opens Path to Confront Threat of AI Digital Fraud

Retrieved on: 
Tuesday, December 12, 2023

The research finds that people who use biometrics to access online accounts register higher rates of satisfaction than those who don’t.

Key Points: 
  • The research finds that people who use biometrics to access online accounts register higher rates of satisfaction than those who don’t.
  • Consumer acceptance of biometrics when used for identity protection means companies can confidently deploy multi-layered biometric authentication, the most powerful technology available to combat online fraud, while also increasing consumer satisfaction.
  • View the full release here: https://www.businesswire.com/news/home/20231212863240/en/
    Digital payment fraud losses are projected to surpass $362 billion globally between 2023 and 2028, according to Juniper Research.
  • Amidst the rising threat of AI-powered fraud, new data from IDC reveals that 83 percent of organizations surveyed said they have made investments in improving consumer authentication technology and processes.

Mitek Reports Preliminary Fiscal 2023 Full Year Financial Results and Provides Guidance for Fiscal 2024

Retrieved on: 
Thursday, December 7, 2023

Mitek Systems, Inc. (NASDAQ: MITK, www.miteksystems.com , “Mitek” or the “Company”), a global leader in digital identity and fraud prevention, today reported preliminary financial results for its full fiscal year ended September 30, 2023, and provides guidance for its 2024 fiscal year ending September 30, 2024.

Key Points: 
  • Mitek Systems, Inc. (NASDAQ: MITK, www.miteksystems.com , “Mitek” or the “Company”), a global leader in digital identity and fraud prevention, today reported preliminary financial results for its full fiscal year ended September 30, 2023, and provides guidance for its 2024 fiscal year ending September 30, 2024.
  • These preliminary unaudited financial results for the fiscal year ended September 30, 2023 are estimates based on currently available information and the Company has not yet completed its year end audit of such financial results.
  • "We are happy to announce that we exceeded our fiscal 2023 revenue guidance and delivered full-year revenue growth of 19% and a non-GAAP operating margin of 31% for our fiscal year ended September 30, 2023.
  • If we back out the future year revenue from our preliminary fiscal 2023 revenue, and attribute the portion of the $7.0 million that would have been recognized in fiscal 2024 to the midpoint of our guidance, our fiscal 2024 revenue guidance would represent growth of 12% at the midpoint.

Abrigo and Mitek partner to enhance fraud detection for financial institutions

Retrieved on: 
Tuesday, November 28, 2023

This partnership is a first step toward providing community financial institutions with the tools they need to combat financial crimes like check fraud.

Key Points: 
  • This partnership is a first step toward providing community financial institutions with the tools they need to combat financial crimes like check fraud.
  • Check fraud is one of the most prevalent and costly forms of fraud affecting financial institutions.
  • The Abrigo and Mitek partnership will pave the way for product integration, enabling a wider range of financial institutions to leverage Mitek's advanced fraud prevention solutions.
  • "With this partnership, Abrigo's customers will have access to Mitek's Check Fraud Defender to prevent fraudulent activities and drastically reduce fraud losses."

New Report Reveals Growing Small Business Check Fraud Problem

Retrieved on: 
Tuesday, November 7, 2023

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20231107781210/en/
    The Mitek report revealed that nearly a third (31%) of small businesses have been victimized by check fraud in the past year.
  • In addition, among the small businesses affected by check fraud, a total of 65% reported losses exceeding $50,000 – a significant sum of money for a small business to absorb, especially in uncertain times.
  • Small businesses underpin the American economy, with 33.2 million small businesses across the U.S., according to the Small Business Administration.
  • “The findings in Mitek's 2023 Mobile Deposit Benchmark Report show the heightened need for comprehensive fraud protection solutions designed to cater to the needs of small businesses."

Mitek Recognized in 2023 Gartner® Market Guide for User Authentication

Retrieved on: 
Thursday, November 2, 2023

Mitek Systems , Inc. (NASDAQ: MITK), a global leader in digital identity and fraud prevention, has been named a Representative Vendor in the Gartner, Inc. 2023 Market Guide for User Authentication .

Key Points: 
  • Mitek Systems , Inc. (NASDAQ: MITK), a global leader in digital identity and fraud prevention, has been named a Representative Vendor in the Gartner, Inc. 2023 Market Guide for User Authentication .
  • View the full release here: https://www.businesswire.com/news/home/20231102881282/en/
    “User authentication is a cornerstone of digital identity and identity-first security,” Gartner said, summarizing the report’s findings.
  • “We are glad to see Mitek recognized among other vendors in this Market Guide.
  • We believe this is a testament to our ongoing commitment to innovation,” said Mitek Identity SVP Chris Briggs.

Mitek Reports Fiscal 2023 Third Quarter Financial Results; Reiterates Fiscal Full Year Guidance

Retrieved on: 
Thursday, October 26, 2023

Mitek Systems, Inc. (NASDAQ: MITK, www.miteksystems.com , “Mitek” or the “Company”), a global leader in digital identity and digital fraud prevention, today reported financial results for its third quarter of fiscal 2023 ended June 30, 2023.

Key Points: 
  • Mitek Systems, Inc. (NASDAQ: MITK, www.miteksystems.com , “Mitek” or the “Company”), a global leader in digital identity and digital fraud prevention, today reported financial results for its third quarter of fiscal 2023 ended June 30, 2023.
  • Total revenue increased 10% year over year to $43.1 million in a record third quarter.
  • Mitek is reiterating its fiscal 2023 guidance for the year ending September 30, 2023, expecting revenue to be in the range of $169.0 million to $171.0 million, an increase of approximately 18% year over year from the mid-point of the guidance range.
  • Mitek expects its non-GAAP operating margin for fiscal 2023 to be in the range of 30.0% to 31.0%.