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Stock impact report

Identity verification may reduce cost of compliance by up to 70% for digital lenders

Mitek Systems, Inc. (MITK) 
Last mitek systems, inc. earnings: 4/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.miteksystems.com
Company Research Source: GlobeNewswire
Autonomous NEXT whitepaper finds lenders deploying AI-powered identity verification could reduce Know Your Customer and Anti-money Laundering costs by up to 70%, and improve speed by 80% SAN DIEGO and LONDON, Nov. 19, 2018 (GLOBE NEWSWIRE) -- A whitepaper released today by Mitek (NASDAQ: MITK), authored by Fintech research practice Autonomous NEXT found that the opportunity is ripe for digital lenders to grow – if they continue to invest in digitisation. The whitepaper, entitled ‘European Digital Lenders: How operating efficiency is helping digital lenders attack a $150 billion annual origination market across the Eurozone in 2018’, looked into the state of the digital lending market in Europe. It found that while European digital lenders are growing quickly, digital share is still low relative to the addressable market opportunity. Efficient onboarding and servicing using digitized workflows, such as digital identity verification technology, are being used by both new entrants an Show less Read more
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