Mitek’s Document Reading Secures Flexi-Fi’s Retail Credit Platform

Flexi-Fi is turning to Mitek to boost the security and efficiency of its retail credit platform. The Irish company will deploy Mitek’s Mobile Verify, a document reading solution that will help Flexi-Fi validate the IDs of customers applying for a line of credit.

“Mitek saves us time and resources as our credit assessment team is able to make more accurate decisions in real time,” said Flexi-Fi CEO PJ Byrne. “The team can trust the technology to verify the ID document online and focus their time on the merits of a credit application.”

With Mobile Verify, Flexi-Fi will be able to authenticate ID documents to confirm that its customers are indeed real people and assess the risk of a given loan application. That reduces the threat of identity fraud or a default during repayment, which will in turn raise the number of Flexi-Fi applications and lower the time needed for approval.

Mitek significantly augmented its document reading capabilities when it acquired A2iA in a landmark deal last May. The company’s solutions typically blend selfie authentication and document reading, matching a selfie against the photo on an official document. Companies like HyreCar and BSI have previously utilized the technology for customer onboarding and authentication.