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Mitek to Launch Photo Verify, a Robust Mobile ID Verification Tool

May 14, 2015         By: Michael Cheng

Mitek has unveiled a new image scanning system that uses a mobile device as a scanner called Photo Verify.

The technology enables a customer to scan a government-issued driver’s license through a mobile device to confirm their identity.

“This technology is the next step in enabling financial institutions to optimize the mobile channel for customer acquisition,” said James B. DeBello, president and CEO of Mitek.

“Institutions can be 100% sure that the license presented is an authentic, unaltered, government issued document. This will give them the confidence to approve more new customers. Consumers will enjoy the experience. They will simply scan their driver license with a phone or tablet and receive an instant result.”

Mitek’s latest offering was first seen in the Finovate Spring 2015 conference. The product is due for an official launch this summer.

Photo Verify is a combination of two products, MiSnap and Photo Fill. MiSnap is used to locate a hidden encrypted code on the US driver’s license that is able to be seen by a mobile device’s camera. Once the security marking is detected, the ID is then verified, greatly reducing the chances of false positives.

Photo Fill allows individuals to capture images through a mobile device. The information can be used to pre-fill data for various account-related forms. By streamlining the input process, institutions are able to reduce abandonment, which usually happens when a customer is required to upload documents for thorough verification.

“We’re working with banks and credit issuers to use that technology to remove friction from the mobile account opening process,” mentioned Sarah Clark, vice president of product at Mitek.

Mitek’s mobile solutions are beneficial for a wide range of high-risk transactions. According to a report from the GlobalWebIndex, over 80 percent of adults own a smartphone, making the company’s products highly relevant for today’s fast-moving sectors.