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 organisations 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 organisations 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
defences 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
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