Acquisition expands LexisNexis Risk Solutions'
capabilities in risk and fraud solutions and enhances
digital identity onboarding and identity verification through
AI-powered technology
ATLANTA and LONDON, Feb. 19,
2025 /PRNewswire/ -- LexisNexis® Risk Solutions, part
of RELX, closed its acquisition of IDVerse™, a provider of
AI-powered document authentication and fraud detection
solutions. IDVerse is now part of the Business Services segment of
LexisNexis Risk Solutions and will continue to be available within
its LexisNexis® RiskNarrative® platform, LexisNexis® IDU®, and will
be offered within its LexisNexis® Dynamic Decision Platform® as a
stand-alone solution later this year.
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 organizations in various industries and the public
sector.
Once integration is complete, LexisNexis Risk Solutions will
offer clients even more robust risk insights to better protect
consumers, promote financial inclusion for trusted individuals and
help organizations globally maintain an optimal risk
posture.
Combining LexisNexis Risk Solutions' multi-layered identity
verification tools with IDVerse's complementary AI-powered
technology will address both evolving customer needs and emerging
threats. Expanding global ID verification capabilities will bolster
defenses against AI-generated fraud, while
IDVerse's self-learning AI will ensure advanced fraud
detection, faster fraud model updates and even more
accurate identity verification.
Rick Trainor, CEO of Business
Services at LexisNexis Risk Solutions,
stated, "Anti-fraud capabilities need to
advance as fast or faster than fraudsters innovate their tactics.
AI-powered solutions are critical in defending against
fraud, particularly AI-generated fraud
such as deepfakes. IDVerse's accelerated innovation in this field
is impressive, and I'm eager to see how our complementary
cutting-edge solutions will combine to take our
anti-fraud capabilities to new levels."
The terms of the transaction have not been disclosed.
About LexisNexis Risk Solutions
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.
About 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.
About IDVerse
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.
Media Contacts:
LexisNexis Risk Solutions
Ade O'Connor
+44 78 9091 8264
Ade.O'Connor@lexisnexisrisk.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/lexisnexis-risk-solutions-completes-idverse-acquisition-302379512.html
SOURCE LexisNexis Risk Solutions