Mitek, a company that specializes in mobile capture and identity verification software products, has launched in the U.K. with an office in London.

The U.S.-based company works with more than 5,500 organizations that provide its technology to 70 million consumers across the globe, according to a press release.

Mitek provides financial institutions and other highly regulated businesses with mobile verification technology underpinned by artificial intelligence that establishes an individual's identity remotely to accelerate the digitization of know your customer and customer due diligence processes for on-boarding and payments.

"Now is exactly the right time to for Mitek to launch in the U.K.," James DeBello, Mitek chairman and CEO, said in a statement. "Financial services providers are facing unprecedented challenges in Europe due to new PSD2 regulation, new AML rules and the increasing sophistication of fraud. Meeting these challenges while competing with new market entrants and remaining digital-first will mean innovative solutions are a must."