LexisNexis Risk Solutions to acquire IDVerse

NEW YORK — LexisNexis Risk Solutions, a part of RELX, has entered into an agreement to acquire IDVerse, a provider of AI-powered automated document authentication and fraud detection solutions.

As a result, IDVerse will become part of LexisNexis Risk Solutions Business Services.

Founded in Australia and launched commercially in 2018, IDVerse uses AI to combat fraud and deepfakes. Its proprietary technology is powered by a 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.

"AI-powered solutions are necessary to counter the threat of AI-generated fraud attacks, including deepfakes,” said Rick Trainor, CEO of Business Services for LexisNexis Risk Solutions. “Integrating IDVerse's advanced and complementary technology will further enhance our ability to provide the risk insights our clients need to defend against bad actors today and into the future – regardless of where our clients are in the world or where they do business."

LexisNexis Risk Solutions has delivered document authentication solutions since 2005. The company stated that combining IDVerse's advanced technology with its existing offerings represents a natural evolution in addressing AI-generated fraud.

John Myers, CEO of IDVerse, added, "LexisNexis Risk Solutions has been at the forefront of enabling compliance and lowering risk for businesses worldwide for decades. We're looking forward to seeing the impact our combined solutions and technology can make in improving outcomes for our clients against a fast-changing risk landscape."

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 societal benefits, continued adaptability, global document authentication capabilities, and advanced fraud detection.