SAN DIEGO and LONDON, Jan. 31, 2017 (GLOBE NEWSWIRE) -- Mitek (NASDAQ:MITK) (www.miteksystems.com), a global leader in mobile capture and identity verification software
solutions today announced that MoneyGram, a global provider of innovative money transfer services, is using Mobile Verify™ to meet Anti-Money Laundering (AML) requirements for identifying individuals who
send and receive funds.
To complete the identity verification step in the money transfer process, MoneyGram customers simply take a picture of their
passport or other identity document using their mobile device camera. Mobile Verify then uses advanced machine learning technology
to instantly validate the authenticity of the ID.
“Mobile Verify™ helps us provide a fast and easy experience for our customers while ensuring that we’re complying with local
laws and regulations,” said Nash Ali, Head of Online Risk at MoneyGram. “It replaces tedious and often paper based processes,
dramatically increasing accuracy while reducing the time it takes to identify both parties in the transaction.”
“MoneyGram’s challenge of protecting its business and its customers without creating a cumbersome process is one that many
companies face,” said James DeBello, Chairman and CEO, Mitek. “We are proud to be able to help this global money transfer leader
deliver a quality digital experience that is compliant with regulatory requirements.”
About Mitek
Mitek (NASDAQ:MITK) is a global leader in mobile capture and identity verification software solutions. Mitek’s ID document
verification allows an enterprise to verify a user’s identity during a mobile transaction, enabling financial institutions,
payments companies and other businesses operating in highly regulated markets to transact business safely while increasing revenue
from the mobile channel. Mitek also reduces the friction in the mobile users’ experience with advanced data prefill. These
innovative mobile solutions are embedded into the apps of more than 5,400 organizations and used by tens of millions of consumers
for mobile check deposit, new account opening, insurance quoting, and more. For more information, visit www.miteksystems.com. (MITK-F)
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Mitek Contact: Ann Reichert Senior Director of Marketing pr@miteksystems.com Katherine Verducci MIX Public Relations pr@mix-pr.com Mitek Investor Contacts: Todd Kehrli or Jim Byers MKR Group, Inc. mitk@mkr-group.com
