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Mitek ID Solutions Selected by Leading Digital LenderSAN DIEGO and LONDON, May 24, 2017 (GLOBE NEWSWIRE) -- Mitek (NASDAQ:MITK) (www.miteksystems.com), a global leader in mobile capture and identity verification software solutions, today announced that one of the nation’s leading digital mortgage lenders has selected Mitek’s Mobile Verify®, Mobile Fill® and Mobile Docs™ solutions to help it streamline the online loan origination process and improve the customer experience. “Online consumer loans have increased more than 700 percent since 2010 and are estimated to represent a $100 billion market opportunity by 2020,” said James DeBello, Chairman and CEO, Mitek. “To capture this valuable market, lenders need to embrace digital technologies that speed the process and keep applicant in the digital channel. With Mitek’s identity verification and mobile capture solutions, lenders can finally deliver a fast and easy, digital origination process.” High operational costs are eroding margins for lenders. Mortgage origination costs alone have increased 79 percent since 2009. To compete in this new landscape and attract new applicants, lenders will need to increasingly adopt digital technologies that increase efficiencies, reduce expenses and meet consumers’ desire for digital processes. Previously, applicants had to fax or scan hard copies of their IDs and trailing documents such as W2s and bank statements. With Mitek’s mobile capture and digital identity verification solutions integrated into the loan process, consumers will be able to use their smartphone to take photos of document to pre-fill application forms, verify their identity and submit supporting documentation. About Mitek Follow Mitek on LinkedIn: https://www.linkedin.com/company/mitek-systems-inc- Mitek Contact: Ann Reichert Senior Director of Marketing [email protected] Katherine Verducci MIX Public Relations [email protected] Mitek Investor Contacts: Todd Kehrli or Jim Byers MKR Group, Inc. [email protected] |