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Rhea-AI Summary
Mitek Systems, Inc. (NASDAQ: MITK) launches MiControl, a fraud management console enhancing check fraud detection. MiControl boosts productivity by sixfold, reduces losses, and enhances online security for consumers.
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Rhea-AI Sentiment
End-of-Day
2.81%
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Rhea-AI Summary
Mitek Systems, Inc. received a Staff Determination from Nasdaq due to delays in filing financial reports, risking delisting. The Company plans to appeal and aims to regain compliance by filing the necessary reports.
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Rhea-AI Sentiment
End-of-Day
0.5%
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Rhea-AI Summary
Mitek Systems, Inc. (MITK) has been appointed to the Digital ID & Authentication Council of Canada (DIACC), a non-profit coalition focused on developing a Canadian framework for digital identification and authentication. The appointment reflects Mitek's commitment to digital trust capabilities and aligns with DIACC's mission to enhance privacy and security in the global digital economy. The PR highlights the increasing digital fraud attempts in Canada, emphasizing the importance of DIACC's work in combating fraud and cybercrime. Mitek's involvement in this initiative showcases its dedication to contributing technological expertise and experience to further digital identity goals in Canada and beyond.
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Rhea-AI Sentiment
End-of-Day
1.92%
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Mitek Systems, Inc. (NASDAQ: MITK) has been granted an extension of the automatic stay of suspension of its common stock from The Nasdaq Stock Market LLC, pending a hearing scheduled for March 19, 2024, and a final determination regarding the Company’s listing status. The company is subject to a Mandatory Panel Monitor until November 6, 2024, requiring prompt delisting determination if it fails to comply with Nasdaq Listing Rule 5250(c). Mitek intends to appeal a delisting determination due to its failure to file the Form 10-K with the SEC and anticipates delays in filing its Quarterly Report on Form 10-Q for the period ended December 31, 2023.
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Rhea-AI Sentiment
End-of-Day
3.14%
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Rhea-AI Summary
ID R&D (IDRD), a Mitek company, introduces voice clone detection as a new option for its IDLive® Voice liveness detection product, aiming to prevent fraud and crime, deter bad actors, and help preserve trust in the authenticity of digital audio communication. The software uses AI to determine whether a recording of speech was spoken by a person or a voice clone, addressing the growing concern of audio deepfakes and voice clones leading to criminal activities. The technology has applications in communications, healthcare, and productivity, but also poses risks of fraud and crimes such as account takeover, identity theft, misinformation, extortion, defamation, and appropriation of identity. President Biden's Executive Order on AI security and safety aims to protect Americans' privacy while embracing the potential of AI.
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Rhea-AI Sentiment
End-of-Day
-1.47%
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Rhea-AI Summary
Mitek Systems, Inc. (NASDAQ: MITK) won the Identity Verification and Know Your Customer category at FinTech Finance’s 2023 FF Awards. The award recognizes Mitek's tenure, financial strength, and reputation in the financial services industry. Mitek's leadership in identity verification, including facial biometrics, image capture technology, and ID card verification, allows customers to confidently onboard users, verify identities within seconds, and strengthen security against cybercrimes. Mitek products power and protect millions of identity evaluations and mobile deposits every day around the world.
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Rhea-AI Sentiment
End-of-Day
1.18%
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Mitek Systems, Inc. (Nasdaq: MITK) received a Staff Delisting Determination from Nasdaq due to the delay in filing its Annual Report on Form 10-K for the fiscal year ended September 30, 2023, which could lead to delisting of the Company's securities. The Company is subject to a Mandatory Panel Monitor until November 6, 2024, and intends to request a hearing before the Nasdaq Hearings Panel to regain compliance with the Rule.
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Rhea-AI Sentiment
End-of-Day
1.57%
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Mitek (MITK) sponsored an IDC InfoBrief revealing that using biometrics for online account access leads to higher consumer satisfaction and reduces online fraud. Digital payment fraud losses are projected to surpass $362 billion globally between 2023 and 2028. 83% of organizations have invested in improving consumer authentication technology, and 60% are in the process of enabling multi-layered authentication. Consumers are unsatisfied with traditional username/password processes, and 77% of those using biometrics on their smartphone or tablet are satisfied with biometric identity authentication.
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Rhea-AI Sentiment
End-of-Day
2.4%
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Mitek Systems, Inc. (MITK) reports 19% year-over-year increase in total revenue to $171.9 million for fiscal year 2023, with GAAP net income of $7.8 million and non-GAAP net income of $43.8 million. Cash flow from operations was $31.4 million, and total cash and investments were $134.9 million as of September 30, 2023. The company provides guidance for fiscal year 2024, expecting full-year revenue to be in the range of $180.0 million to $185.0 million and non-GAAP operating margin for fiscal 2024 to be in the range of 30.0% to 31.0%.
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Rhea-AI Sentiment
End-of-Day
1.59%
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Abrigo (ABGO) partners with Mitek to combat check fraud, aiming to provide community financial institutions with advanced fraud prevention solutions. According to FinCEN, check fraud SAR filings increased 94% over 2021, exceeding 680,000 in 2022. Mitek's Check Fraud Defender uses patented imaging science, machine learning, and artificial intelligence to analyze checks from all channels to reduce losses related to check fraud. General availability will be announced in early 2024.
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Rhea-AI Sentiment
End-of-Day
1.16%
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Mitek Systems, Inc.
Nasdaq:MITK
MITK Rankings
MITK Stock Data
634.48M
42.19M
2.45%
77.52%
7.56%
Software Publishers
Information
United States of America
SAN DIEGO
About MITK
“accelerate the digital transformation of your business with digital identity verification."mitek (nasdaq: mitk) is a global leader in mobile capture and digital identity verification solutions built on the latest advancements in ai and machine learning. mitek’s identity verification solutions enable an enterprise to verify a user’s identity during a digital transaction, which assists financial institutions, payments companies and other businesses operating in highly regulated markets in mitigating financial risk and meeting regulatory requirements while increasing revenue from digital channels. mitek also reduces the friction in the users’ experience with advanced data prefill and automation of the onboarding process. mitek’s innovative solutions are embedded into the apps of more than 6,100 organizations and used by more than 80 million consumers for mobile check deposit, new account opening and more. for more information, visit us at www.miteksystems.com