DataVisor Partners with Mitek to Strengthen Fraud Detection
The world’s leading AI-powered fraud and risk platform, DataVisor partners with Mitek (NASDAQ: MITK) to enhance the platform’s comprehensive check fraud protection offerings. By integrating Mitek’s Check Fraud Defender, a consortium based check fraud detection solution with DataVisor’s advanced machine learning and real-time data analysis, financial institutions (FIs) can now benefit from industry-leading check fraud protection within a single platform. This powerful pairing provides a comprehensive perspective for FIs to execute real-time orchestration of check fraud decisions, minimizing fraud losses and increasing operational efficiencies. It is a significant step for FIs to eliminate silos and to bring a unified experience to customers, at the same time saving resources that would otherwise be spent on integrating separate check fraud solutions into their systems.
Mitek’s industry-leading Check Fraud Defender leverages artificial intelligence (AI) and computer vision technology to accurately detect check fraud in real-time by visually evaluating distinct check attributes. As check fraud continues to rise and fraudsters keep evolving their tactics, identifying check fraud becomes more challenging when examining check images individually in isolation. Through the power of Mitek’s unique consortium model, Check Fraud Defender, DataVisor’s customers will now be able to proactively flag future check deposits tied to stolen or fraudulent checks across participating institutions. And by combining Mitek’s check image analysis with DataVisor’s multi-layered, AI and machine-learning powered approach to analyzing both check data and customer lifecycle data, this all-encompassing solution will enable comprehensive protection that can accurately detect and prevent emerging check fraud, including check kiting and remote deposit capture fraud, and other common check fraud, such as check washing, counterfeit checks, and identity theft.
“Our vision has always been to create an end-to-end, comprehensive platform that effectively combats all types of financial fraud,” said Yinglian Xie, CEO and Co-Founder at DataVisor. “By joining forces with Mitek, we’re elevating our check fraud protection capabilities. It also streamlines the experience for our customers, eliminating the need to engage with multiple solutions in silo and therefore can address different fraud challenges more effectively with a centralized, holistic view.”
“We’re thrilled to partner with DataVisor to offer comprehensive check fraud detection,” stated Kerry Cantley, VP of Digital Banking Strategy at Mitek. “Together, we leverage our collective advanced technologies to safeguard financial transactions. By combining DataVisor’s comprehensive platform with Mitek’s robust Check Fraud Defender consortium, we’ve created a top-tier solution, setting new standards in proactive fraud prevention.”
For more information about DataVisor’s fraud solutions, visit here.
