Mitek introduced Check Fraud Defender. This is the first artificial intelligence-powered, cloud-hosted consortium for financial institutions to counteract check fraud. An important addition to a financial institution’s fraud-fighting protocols, Check Fraud Defender helps protect against the growing sophistication of check fraud attacks. Backed by more than 35 years of expertise in digital image capture, mobile deposit and identity solutions, Mitek’s Check Fraud Defender detects forgeries otherwise missed by traditional tools. The service analyzes checks deposited from all channels – mobile, in-branch and ATMs. With Check Fraud Defender’s patented computer vision technology, financial institutions have a higher degree of confidence in fraud detection. Check fraud is on the rise, and financial institutions see their existing fraud detection processes generate mountains of false positives. This causes them to hire more and more people to sift through false positives in search of fraud, costing significant time and money. Mitek’s latest innovation helps financial institutions continue to stay ahead of the fraudsters. One of the top 25 US financial institutions has already licensed Check Fraud Defender and three more are currently using the underlying technology. One of the largest U.S. banks has already experienced up to a 90% savings in manual review time following its initial deployment.