IDVerse Joins LexisNexis in AI-Driven Fraud Fight
Deal News | Feb 21, 2025 | EIN
LexisNexis Risk Solutions has completed its acquisition of IDVerse, a company specializing in AI-powered document authentication and fraud detection, to enhance its digital identity and fraud prevention capabilities. IDVerse, founded in Australia and launched in 2018, uses a proprietary deep neural network to authenticate identity documents, match faces with identity documents through biometric algorithms, and prevent fraudulent submissions. Its technology can verify over 16,000 types of identity documents worldwide. This acquisition aims to bolster LexisNexis's risk insights, providing stronger defences against AI-generated fraud and supporting financial inclusion by offering more comprehensive identity verification solutions. IDVerse will become part of the Business Services segment of LexisNexis and continue its services through various LexisNexis platforms. The strategic integration highlights the company's commitment to advancing anti-fraud measures in response to evolving threats.
Sectors
- Business Services
- Technology
- Financial Services
Geography
- United States – LexisNexis Risk Solutions is headquartered in metro Atlanta, Georgia, USA.
- Australia – IDVerse was founded in Australia and represents a significant geographic element of the acquisition.
Industry
- Business Services – The integration of IDVerse into the Business Services segment of LexisNexis Risk Solutions focuses on enhancing service offerings in risk and fraud solutions.
- Technology – IDVerse specializes in AI-powered document authentication and fraud detection, making the technology sector relevant to this acquisition.
- Financial Services – The acquisition supports financial inclusion and helps organizations maintain optimal risk postures, aligning with the financial services industry.
Financials
- Not disclosed – The financial terms of the acquisition of IDVerse by LexisNexis Risk Solutions have not been disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| LexisNexis Risk Solutions | Acquirer | Company | A leading provider of data analytics platforms and technology solutions aimed at reducing risk and improving decisions globally. |
| IDVerse | Target Company | Company | An Australian company specialized in AI-powered document authentication and fraud detection solutions. |
| Rick Trainor | CEO of Business Services | Person | Rick Trainor leads the Business Services unit at LexisNexis Risk Solutions. |
| RELX | Parent Company | Company | A global provider of information-based analytics and decision tools for professional and business customers, parent company of LexisNexis Risk Solutions. |