Mitek has unveiled Photo Verify, a new mobile ID authentication technology that aims to instantly confirm the authenticity of a US driving license and aid fast customer acquisition at banks.
Unveiled at the Finovate Spring 2015 conference ahead of its full launch this summer, the Photo Verify solution combines Mitek’s MiSnap auto capture technology and its Photo Fill tool which effectively allows the camera to be used as a keyboard if needed to help quick customer acquisition.
The MiSnap functionality can instantly find and decode an encrypted security feature hidden on a US driver’s license. When this security feature is detected by Photo Verify, the license is 100% authenticated, meaning false positives shouldn’t happen.
“This technology is the next step in enabling financial institutions to optimize the mobile channel for customer acquisition,” said James B. DeBello, president & CEO of Mitek. “Institutions can be 100% sure that the license presented is an authentic, unaltered, government issued document. This will give them the confidence to approve more new customers. Consumers will enjoy the experience. They will simply scan their driver license with a phone or tablet and receive an instant result.”
Potential financial services end uses include new account opening in-branch, credit card issuing, and so forth.