Equifax and Mitek Join Forces to Protect Consumers Online
September 21 2023 - 2:30PM
Business Wire
Top consumer credit reporting agency and global identity
verification experts partner to lead fight against evolving digital
fraud threats
Mitek Systems, Inc. (MITK), a global leader in making digital
access faster and more secure, announced a strategic partnership
with Equifax Inc. (EFX), a global data, analytics and technology
company. The agreement will add Mitek’s biometric-based identity
verification and liveness detection technology to Equifax’s digital
identity software, further strengthening Equifax’s ability to help
companies prevent identity fraud.
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In February 2023, the Federal Trade Commission (FTC) released
data showing that in 2022, there were more than 1.1 million reports
of identity theft received through the FTC’s IdentityTheft.gov
website. The same year, losses due to fraud cost Americans $8.8
billion, an increase of more than 30 percent over the previous
year. Additionally, credit card fraud is proven to be the top form
of identity fraud with more than 400,000 reports in the past year.
The National Council on Identity Theft Protection shows these
statistics are continuing to rise as criminals adopt ever-more
sophisticated methods.
To combat emerging fraud threats, Equifax will leverage Mitek’s
artificial intelligence-powered identity verification technology
with its own fraud data solutions. This powerful approach is
designed to detect complex identity risks throughout the entire
customer lifecycle, from onboarding to portfolio servicing, all
without impacting customers’ experiences.
“Our mission is to help people live their best financial lives,”
said Adam Gunther, SVP & CEO, Equifax Digital Solutions.
“Providing a safe and secure online environment is integral to
achieving that mission. We work closely with partners like Mitek to
provide a suite of identity verification and authentication
solutions — like Kount 360 — to address the fraud challenges that
companies face today.”
“We exist to keep people safe in the digital world,” said Gavin
Sollinger, VP of Strategic Global Alliances at Mitek. “Bad actors
will always find new ways to take advantage of people. It is our
job to stay ahead of them through the latest advances in artificial
intelligence, machine learning, and biometrics. It is an honor to
join forces with Equifax, a world-leading advocate for consumer
safety, to deploy our pioneering technology to help strengthen
consumer identity protection across the world.”
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 7,800 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, Twitter and YouTube, and read Mitek’s latest
blog posts here.
ABOUT EQUIFAX
At Equifax (NYSE: EFX), we believe knowledge drives progress. As
a global data, analytics, and technology company, we play an
essential role in the global economy by helping financial
institutions, companies, employers, and government agencies make
critical decisions with greater confidence. Our unique blend of
differentiated data, analytics, and cloud technology drives
insights to power decisions to move people forward. Headquartered
in Atlanta and supported by more than 14,000 employees worldwide,
Equifax operates or has investments in 24 countries in North
America, Central and South America, Europe, and the Asia Pacific
region. For more information, visit Equifax.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230921731606/en/
Media Inquiries: Angela M. Romei, Mitek Senior Director
pr@miteksystems.com
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