Mitek, who specializes in mobile onboarding and capturing solutions, announced they would be acquiring identity document verification provider IDchecker for $10.6 million. Mitek owns several patents related to mobile imaging technology used for mobile deposits and other applications for financial institutions but will now incorporate photo verification of identity and other documents following the acquisition of IDchecker.
While Mitek already had 21 patents issued, the acquisition of IDchecker will bring more. The patented algorithms and techniques behind IDchecker’s FACELINK facial recognition technology will complement the suite of services Mitek already provides to 3,700 financial institutions utilizing their Mobile Deposit services. In addition to the auto capture patent and facial recognition technology IDchecker brings, the acquisition makes Mitek’s ID verification capabilities and global presence more robust as their global ID document coverage expands to over 3,500 document types worldwide.