Seeking Alpha

Mitek rallies after announcing partnership with Experian

  • Mitek (MITK +3.7%) and Experian (EXPGF.PK, EXPGY.PK - a top financial information/credit data provider) are partnering to offer a solution that eliminates manual data entry for consumers looking to set up bank accounts using mobile devices. (PR)
  • The solution combines Mitek's Mobile Photo Account Opening product with Experian's fraud prevention/authentication services. Consumers can upload front/back pictures of their driver's licenses taken with a phone's camera to provide banks with needed info, in lieu of typing the info using a phone's keyboard.
  • Though below its June highs, Mitek is up 67% YTD following a rough 2012. 24.4% of the float was shorted as of Sep. 13.
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