A global leader in mobile capture and identity verification software solutions has made its 2018 predictions for the future of financial services, payments and identity verification in digital channels.

San Diego-based Mitek Systems predicts that financial institutions will see cyber crooks try to open 150 million fraudulent accounts in 2018.

Sarah Clark, Mitek’s SVP of global product management, told the financial services website Bank Innovation, “It’s just logical ... given the extent of recent data breaches, that we’re going to see more of the same. It will continue to accelerate.”

Last year, fraudsters used fake or stolen identity credentials at financial institutions some 80 million times to attempt fraud. After large-scale data breaches compromised billions of consumers’ information in 2017, Mitek expects this number to spike in 2018 and that the number of new fraudulent accounts opened with stolen or fake identities will reach 150 million.

In 2018, banks are expected to grow more comfortable with digital initiatives and other experimental technologies such as blockchain, but that doesn’t mean they are totally ready to give up some of the more traditional methods of banking, Clark said.

Identity verification will be a priority in 2018, with 60 percent of online marketplaces and other websites adopting technologies and techniques for verifying new users' identities, the company predicts.