Partnerships / Acquisitions

Mitek Enables Mobile Account Opening

Mobile banking

Mitek, which focuses on mobile capture and identity verification software, said on Wednesday (May 25) that it has teamed up with Avoka, which works with frictionless digital customer acquisition across financial services, forging an alliance through which the former’s Mobile Fill integrates with the latter’s Transact digital sales platform.

That mobile solution, said the firms in a release, allows financial institutions to grab new customers in order to open deposit accounts, begin loans and also bring on new wealth management customers.

With the processes available in the mobile account functionality, the integration means that mobile capture can be used to take, for example, a photo of a driver license’s data. That data can then be used to “pre-fill” information into an application that can then be sent across the Avoka digital sales platform. The integrated solution is being adopted by what the firms said is a top 10 global bank in order to make strides in retail account originations.

In a statement, Derek Corcoran, chief experience officer at Avoka, said: “Our objective is to eliminate the friction from the account opening process, and using a license capture is a huge step in this direction. Mitek fits perfectly into our strategy of delivering best-in-class capabilities as part of our sales platform.”

Separately, Mitek CEO and Chairman James B. DeBello said: “We are pleased to partner with Avoka to deliver a superior account opening solution to a top 10 global bank. The pre-built integration will make it easy for this and other financial institutions to quickly deploy a comprehensive account opening solution that will exceed customers’ expectations for a simple, easy-to-use mobile onboarding experience.”

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