Logan

Logan from Craig-Hallum asked if the rapidly changing environment of AI-driven and synthetic fraud is accelerating sales cycles for Mitek's fraud and identity solutions, and if channel partners are showing increased engagement in this area.

Answer

CEO Ed West indicated that sales cycles can accelerate if an institution has experienced an attack, but comprehensive solutions still require time, often starting with specific business areas and then broadening. He confirmed increased activity from channel partners, who are bringing opportunities in new verticals like government and insurance, and noted that financial services partners recognize synthetic fraud as a top concern.

Logan asked if the rapidly evolving landscape of AI-driven and synthetic fraud is accelerating sales cycles for Mitek's fraud and identity solutions, and also about increased activity from channel partners.

Answer

CEO Ed West confirmed that sales cycles can accelerate following an institution's experience with an attack or vulnerability. He noted that engagements often start with specific business areas and then broaden. He also affirmed increased activity from channel partners, particularly those in non-financial services verticals like government and insurance, and with authentication solutions.