Mitek's (MITK) Mobile Fill Platform Selected for Use by Leading Online Mortgage Provider

August 30, 2016 7:07 AM EDT

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Mitek (Nasdaq: MITK) announced that a leading online mortgage provider in North America has selected Mobile Fill™ to support its goal of creating the fastest, easiest and most user-friendly mobile loan application available.

“With digital business models, the initial customer enrollment experience is extremely important to get right and sets the tone for the customer relationship with the company,” said James DeBello, chairman and CEO, Mitek. “Mitek’s Mobile Fill creates a digital application process that is unmatched for ease of use, accuracy and providing a superior user experience for mobile lending platforms.”

The mobile channel continues to increase in importance for the mortgage industry. According to 2015 data from Fannie Mae’s Economic & Strategic Research (ESR) Group, about one-fourth of surveyed lenders currently offer a mobile mortgage app and approximately 40 percent of those who don’t, plan to do so in the near future. In addition, according to ESR research among recent homebuyers, 30 percent would prefer using mobile devices to get a mortgage quote yet only 6 percent have filled out a mortgage application using a mobile device.

Using Mobile Fill, new applicants can simply snap a picture of their driver’s license to have their personal data accurately and automatically pre-filled into the mortgage application forms. The process takes just seconds and enables the mortgage provider to achieve its promise to consumers to get them approved to buy a home or refinance a mortgage in just minutes.

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