R&D ID acquired by digital ID software developer Mitek

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Biometric technology start-up ID R&D has announced its purchase by digital identity verification platform Mitek for an undisclosed amount. The agreement will integrate ID R&D’s voice and facial recognition services with Mitek’s suite of fraud detection and elimination tools.

Recognition Acquisition

ID R&D is best known for the combination of voice and visual biometric technology it provides to customers. The company combines hardware sensors and software analytics to determine if the authorized person’s voice and face match their recordings. ID R&D has steadily improved what its devices can do. The startup’s AI is more accurate than ever in confirming who someone is and whether it’s a recording or a live.

Since its inception a few years ago, the company has reduced the time it takes to verify a person’s identity by an order of magnitude and significantly reduced the energy consumed by identification R&D devices. Now, all of this technology will be used to support Mitek’s efforts to authenticate identity claims using AI. As ID R&D mentions in its announcement, Juniper Research recently suggested that 1.4 billion people will use facial and voice recognition technology to manage banking transactions and other activities over the next two years.

“Consumers want a simple, frictionless experience. We are proud to join Mitek in scaling our core voice biometrics, facial alertness and deepfake detection technologies, ”said Alexey Khitrov, CEO of ID R&D. “This decision accelerates our vision to be the industry center of excellence to fight fraud more transparently without disturbing customers. “

New username

Mitek increases the ability of his platform to determine someone’s identity in one fell swoop. As ID R&D mentioned in the deal announcement, a fifth of successful ID scams over the next two years will use a combination of fake voices and fake faces to steal identities. Improving Mitek’s ability to defend its clients against this eventuality is critical to the long-term success of the business. A better platform will also strengthen Mitek’s presence in the industry, which Markets and Markets estimate will be worth $ 15.8 billion by 2025 in the United States alone. While no specific amount of cash has been mentioned for the sale of R&D ID, shareholders can expect to recover up to $ 49 million in Mitek stock and cash.

“Today’s consumers transact in a digitally driven world and they expect to trust technology to protect them from burgeoning threats. Identity verification has never been more relevant, ”said Max Carnecchia, CEO of Mitek. “Rapid advances in artificial intelligence are enabling new forms of fraud, which means technologies such as those pioneered by R&D ID are essential in this fight.”

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