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.
The non-profit coalition of public and private sector leaders, established in 2012, is committed to developing a Canadian framework for digital identification and authentication that will allow participants to fully and securely participate in the global digital economy. As a member of DIACC, Mitek will join the Trust Framework and Adoption committees and other impactful forthcoming initiatives related to digital trust capabilities.
“We all will prosper when it is easy and safe for people to manage their own identities in a world where it is often unsafe to share information in an effective, easy-to-understand way,” said DIACC President Joni Brennan. “Our work has wide-ranging implications for individuals, companies and the wider economy.”
According toTransUnion’s 2023 State of Omnichannel Fraud, digital fraud attempts in Canada spiked 189% from pre-pandemic levels, confirming the importance of DIACC’s work. The Canadian Anti-Fraud Centre reported receiving fraud and cybercrime reports totaling $530 million in victim losses in 2022, nearly a 40% increase from the unprecedented $380 million in losses in 2021.
“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. “We are honored to contribute our experience and our technological expertise to further these goals within Canada, as well as provide an example for other countries and governing bodies to responsibly manage digital identity.”
Mitek works with financial institutions across North America and Europe to provide innovative, reliable solutions that bridge the divide between physical and digital identity.
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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 7,900 of the world’s largest organizations, Mitek helps companies reduce risk and meet regulatory requirements. Learn more at www.miteksystems.com.
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