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Backbase and Mitek Partner to Remove Onboarding Friction

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A new partnership between mobile capture innovator Mitek and omnichannel digital banking solution provider Backbase will make Mitek’s document scanning and validation technology available via the Backbase Open Banking Marketplace. “Backbase is on a mission to deliver seamless digital banking experiences across all devices and channels,” company co-founder and CEO Jouk Pleiter said in a statement. “Our omnichannel banking platform easily enables banks to plug in best-of-breed fintech capabilities.”

The collaboration is an extension of the existing partnership between the two Finovate alums. Among the first to take advantage of the enhanced relationship between the two innovators is Malaysian financial service provider AmBank with more than six million customers. Sarah Clark, general manager for Identity Solutions at Mitek, called AmBank “just one example of how financial institutions can benefit from optimizing the digital experience with Mitek’s innovative and industry-leading technologies.”

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Founded in 1985 and headquartered in San Diego, California, Mitek demonstrated its Mobile Verify technology at FinovateSpring 2016. Last month, the company unveiled its new mobile, multicheck capture SDK that helps FIs and their developers deploy mobile banking apps for businesses faster. Online currency exchange b-Sharpe announced it would deploy Mitek’s Mobile Verify last month, as well. In May, Mitek partnered with another Finovate alum, Avoka, integrating its Mobile Fill technology with the Avoka Transact platform to speed new customer acquisition, loan origination, and customer onboarding for banks. Mitek won Best of Show for its Mobile Photo Account Opening solution demonstrated at FinovateFall 2013. James DeBello is CEO.

Backbase, which took home Best of Show honors at FinovateFall 2016 last month, was founded in 2003 and is based in Amsterdam, The Netherlands. The company partnered with fellow Finovate alum Entersekt in August, bringing the company’s payment-authentication technology to its Open Banking Marketplace. The company’s digital banking platform was picked by India-based HDFC Bank earlier this month, selected by India’s IDFC Bank in August, and chosen by U.K.’s oldest bank, C. Hoare & Co., in May.