Mitek provides software for digital identity verification, fraud detection, and mobile check deposit, serving primarily financial institutions, fintechs, telecom providers, and digital marketplaces. The business splits roughly evenly between two product portfolios. The Fraud and Identity segment includes document verification, biometric authentication, liveness detection, and deepfake/injection attack detection, all delivered through the MiVIP orchestration platform. Customers — mostly banks and fintechs — use these tools to comply with KYC and AML regulations and to screen out fraudsters during new account openings and ongoing authentication. The Check Verification segment is built around Mobile Deposit, the dominant mobile check deposit solution in the U.S. and Canada, embedded in the apps of more than 7,000 financial institutions and processing roughly 1.2B deposits annually. Mitek also sells Check Fraud Defender, a cloud-based consortium that scores check images in real time across member institutions. Revenue comes from SaaS and transactional pricing on identity products, term software licenses on check verification (where customers buy transaction inventory in advance, creating quarterly lumpiness), and software maintenance. Non-GAAP gross margins run around 85%, reflecting near-100% margins on software licenses and mid-70s on SaaS. Mitek's identity margin profile improves as automation increases — roughly 90% of identity transactions are now automated — and as customers deploy richer, multi-step verification workflows that carry higher revenue per transaction. Growth strategy centers on expanding Check Fraud Defender's consortium, unifying its fraud and identity products into a single platform, and growing Fraud and Identity to more than half of total revenue over time.