LexisNexis Risk Solutions completes IDVerse acquisition

ATLANTA and LONDON — 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.

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.

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.