A major provider of financial technology to banks, Mitek Systems said its digital identity verification software will now incorporate near-field communication (NFC) technology as well.
Mitek, a top developer of digital identity verification and mobile check deposit technology, announced on Thursday (Oct. 22) that it will be incorporating NFC capabilities, which increase the speed and security of transactions, into its “identify verification workflow.”
Mitek noted in a press release that its new NFC-enabled “fast lane” can enable “banks, FinTechs and financial organizations onboard their customers more simply and securely.”
Mitek also contends that its new, NFC-enhanced digital identity verification solution will also provide an easier and more intuitive experience for customers of banks and other financial institutions while also helping to thwart fraud.
“Mitek’s combination of the NFC chip data extraction, selfie capture and liveness biometric verification is superior to other solutions,” said Matthijs Ballintijn at identity services provider JanusID in a press release issued by Mitek. “The intuitive guidance helps users, and the accuracy of the NFC data enables faster, more reliable data capture, all of which will greatly increase our success rates.”
In particular, Mitek says its new ID verification authenticates users “through biographical and biometric information stored in an NFC chip within eligible IDs,” the company noted in its press release. According to the company, users scan their NFC-enabled ID document and then “take a selfie to check liveness and face comparison.” Then Mitek’s “intuitive capture technique swiftly locates the NFC chip and extracts the data for rapid authentication,” the company notes.
“In 2020, we’ve seen an unprecedented rise in demand for safe and secure digital authentication of identities. With NFC technology, we can offer a complete digital identity verification solution that prioritizes customer experience without compromising security,” said Sanjay Gupta, VP and global head of product at Mitek, in a press release. “We are committed to helping brands grow by putting their customers first and to providing a best-in-class digital onboarding experience.”