DataVisor has announced that it has partnered with Mitek to enhance the platform’s comprehensive check fraud protection offerings. By integrating Mitek’s Check Fraud Defender, a consortium-based check fraud detection solution with DataVisor’s advanced machine learning and real-time data analysis, financial institutions can now benefit from check fraud protection within a single platform.

This pairing provides a comprehensive perspective for FIs to execute real-time orchestration of check fraud decisions, minimising fraud losses and increasing operational efficiencies. It is a significant step for FIs to eliminate silos and to bring a unified experience to customers, at the same time saving resources that would otherwise be spent on integrating separate check fraud solutions into their systems.

Mitek’s Check Fraud Defender leverages artificial intelligence to detect check fraud in real-time

As check fraud continues to rise and fraudsters keep evolving their tactics, identifying check fraud becomes more challenging when examining check images individually in isolation.

Through the power of Mitek’s consortium model, Check Fraud Defender, DataVisor’s customers will now be able to flag future check deposits tied to stolen or fraudulent checks across participating institutions. By combining Mitek’s check image analysis with DataVisor’s multi-layered, AI and machine-learning powered approach to analysing both check data and customer lifecycle data, this all-encompassing solution will enable comprehensive protection that can accurately detect and prevent emerging check fraud, including check kiting and remote deposit capture fraud, and other common check fraud, such as check washing, counterfeit checks, and identity theft.

Yinglian Xie, CEO and Co-Founder at DataVisor, commented: “Our vision has always been to create an end-to-end, comprehensive platform that effectively combats all types of financial fraud. By joining forces with Mitek, we’re elevating our check fraud protection capabilities. It also streamlines the experience for our customers, eliminating the need to engage with multiple solutions in silo and therefore can address different fraud challenges more effectively with a centralised, holistic view.”

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