Information Technology
LexisNexis Risk Solutions Announces Definitive Agreement to Acquire IDVerse
Founded in Australia and launched commercially in 2018, IDVerse uses AI to combat fraud and deepfakes. Its proprietary technology is powered by a deep neural network which verifies the authenticity of identity documents and, with consumer consent, matches the consumer's face to the photo on a document using biometric algorithms for identity verification and liveness detection to detect a fraudulent submission. IDVerse's technology is capable of verifying more than 16,000 types of identity documents globally across organisations in various industries and the public sector.
LexisNexis Risk Solutions is renowned for leveraging advanced technology, analytics and global data networks to provide organisations with critical risk insights. Its leading capabilities enable better decision making and outcomes for clients globally and protect customers from cybercrime.
LexisNexis Risk Solutions has delivered document authentication solutions since 2005. Combining IDVerse's advanced technology with its existing complementary offerings represents a natural evolution in addressing AI-generated fraud.
IDVerse's solutions are already available through LexisNexis Risk Solutions' platform, pursuant to a pre-existing alliance agreement. The acquisition will integrate IDVerse's capabilities across solutions and will enhance customer readiness for future fraud threats through advanced AI-powered solutions, including:
Commenting on the acquisition,
Closing of the transaction is subject to customary regulatory consents and is expected in early 2025. The terms of the transaction have not been disclosed.
LexisNexis® Risk Solutions harnesses the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses across multiple industries and governmental entities reduce risk and improve decisions to benefit people around the globe. Headquartered in metro Atlanta, Georgia , we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit LexisNexis Risk Solutions and RELX.
RELX is a global provider of information-based analytics and decision tools for professional and business customers. RELX serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 36,000 people over 40% of whom are in North America. The shares of RELX PLC, the parent company, are traded on the
London , Amsterdam and
New York stock exchanges using the following ticker symbols:
London : REL; Amsterdam : REN;
New York : RELX. The market capitalisation is approximately £69bn/€82bn/ $89bn .
IDVerse provides tools and infrastructure that help empower the identity verification industry, enabling businesses to verify anyone's identity within seconds using only their face and smartphone. IDVerse harnesses the power of regenerative AI to not only fight fraud and deepfakes but also significantly reduce associated risks. IDVerse is trusted by financial institutions, fintech, the public sector and global enterprises with offices in Sydney , Melbourne , London and Silicon Valley.
Ade O'Connor
+44 78 9091 8264
Ade.O'Connor@lexisnexisrisk.com
Matt Ingman
media@idverse.com
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