Mitek has completed its acquisition of IDchecker, the company has announced. Specializing in mobile customer acquisition, Mitek seeks to enhance its authentication capabilities with its purchase of the ID verification company.
It appears that a major part of the appeal of IDchecker came from its advanced technology. The company’s ID document verification is cloud-based, and it also employs facial recognition technology in its verification solutions. That kind of sophistication should nicely complement Mitek’s mobile photo technology, which is able to automatically extract relevant data from the images it captures of persona and financial documents.
In addition to the robust authentication capabilities of IDchecker’s facial recognition technology, the company’s Strong ID system provides Mitek with additional document authentication capabilities for over 3500 document types around the world.
The acquisition also represents some savvy positioning on Mitek’s part as it seeks to take advantage of consumers’ booming interest in mobile commerce and banking. In a statement, Mitek CEO James B. DeBello asserted that consumers’ “preference for shopping and opening accounts via a mobile device is growing and organizations around the world are seeking to optimize the mobile channel to capture these potential customers,” adding that the combination of Mitek’s and IDchecker’s technologies “is capable of doubling or tripling the yield from digital customer acquisition efforts via the mobile channel.”