Forget USAA / TISA. The Competition is Intuit-Vertifi
Intuit-Vertifi have been putting out MD apps like crazy. Every day I check Google Apps to look for new MD apps and you can see in the URL if it says "ifs" that's Intuit Financial Services. They make apps with Vertifi. They have a technology agreement with Mitek but I'm not sure what that entails.
Anyway, there is no way these apps involve Mitek or we would have 1400 signed if they were included, not the 708 we have now. Most FIs they have are CU but I also saw a $32B bank in there as well. That's a top 50 bank that we're not getting.
I wonder why Mitek isn't going after Vertifi. They're the real competition. Has Mitek cleared their solution as not infringing or do they have too much on their plate right now to deal with Vertifi-Intuit?
This is what represents lost business - not TISA.
Im really wondering if Mitek doesnt take a piece from Intuit. They tweeted an article today (worth a read) about RDC - and it referred to Intuit throughout! Would they have done that if Intuit was a competing product? Maybe, but not so sure.
Wonder if Julie would be able to help on this one.
Intuit has a deal with Vertifi. Perhaps a portion of the apps are related to Mitek and some Vertifi's. Here's the only factor that matter --- are any of Intuit's MD apps serviced by one of our 13 Channel Partners. They are the only one's paying for each transaction.
For now, technology licenses are not lucrative. Only transactions are.