Mitek’s artificial intelligence (AI) uses patented imaging science to analyze both sides of checks. Business rules and consortium intelligence turn that analysis into earlier detection, faster investigations, and fewer false positives.
Alkami clients provide batches of check images from their existing processing environment. Mitek analyzes them and flags suspicious items for fraud teams to investigate using existing workflows.
A leading Southeast regional bank avoided more than $20 million in potential fraud losses within six months.
One financial institution reduced the time required to review a suspicious check from as much as 10 minutes to approximately 90 seconds using MiControl.
Check Fraud Defender is an AI-powered check fraud detection solution from Mitek. It analyzes the front and back of check images and combines those findings with business rules and cross-institutional consortium intelligence to help financial institutions identify suspicious checks earlier.
Initially, Alkami clients will be able to use Check Fraud Defender to analyze batches of check images from their existing processing environments. Suspicious items are presented in Mitek’s MiControl Fraud Management Console for review.
Check Fraud Defender helps identify altered checks, counterfeit checks, forged signatures, duplicate deposits, and deposits attempted using recaptured or screen-displayed check images. It also helps detect on-us and in-transit fraud using front-and-back image analysis and consortium intelligence.
Check Fraud Defender is designed to complement existing check processing and fraud management workflows. It adds advanced image analysis and consortium intelligence that help institutions identify additional risk and investigate suspicious checks more efficiently.
MiControl provides visual overlays, risk insights and configurable business rules that help analysts understand why a check was flagged. This additional context allows teams to prioritize higher-risk items and complete investigations more quickly.
