Mitek helps bring mobile deposit to credit unions
In a bid to help credit unions better fight cheque fraud, mobile enterprise digital transaction management solutions provider eDOC Innovations is using technology from Mitek. eDOC will add Mitek’s Mobile Deposit technology and its advanced risk mitigation features to its eDOC Mobile RDC, reports David Penn at Finovate.
eDOC Innovations COO Mark Fierro credited the growth of the company’s RDC processing business and innovations in cheque imaging technology for the decision to work with Mitek.
Fierro also hinted at near-term dividends of the new partnership. “In the coming months, we will be releasing new features that will help credit unions mitigate risk of cheque fraud with restrictive endorsement detection and support for Harland Clarke PhotoSafe Checks,” Fierro says.
Serving credit unions for more than 25 years, eDOC Innovations provides a range of solutions to support mobile e-signature processing, digital asset lifecycle management, intelligent and interactive form automation, as well as mobile RDC and electronic statements. The company noted that credit union demand for mobile deposit capabilities in their banking apps had “nearly tripled” over the past year alone.
Last month, cryptocurrency trading platform DXE announced that it would use Mitek’s Mobile Verify for automated ID verification.
In June, Mitek teamed up with Signicat to build a solution to help European-based financial services improve their onboarding technologies while remaining compliant with new regulations.
Also in June, Mitek added identity document verification and biometric facial recognition technology to its platform thanks to an agreement with Experian.
Mitek’s technology is embedded into the apps of more than 6,100 institutions and is used by more than 80 million consumers.
It has a market capitalisation of $294 million. The company is headquartered in San Diego, California.