interesting snippet
Relx, formerly Reed Elsevier, has transitioned from legal and scientific publishing to AI fraud detection.
Automated processes in financial transactions verify identities and detect fraud, becoming big business. Relx, now the UK’s fifth most valuable company, uses LexisNexis for online data and risk solutions.
The company has shifted to mostly online activities, with subscriptions generating recurring revenue.
LexisNexis Risk Solutions, Relx’s largest division, focuses on identity verification, contributing 35% of revenues. It operates quietly, checking devices and user identities for breaches, and is a major player in US auto insurance and banking.
Relx expanded in banking by acquiring ThreatMetrix, which links online identities to devices for fraud detection.
The risk division holds vast amounts of data and processes billions of transactions annually. 80% of its revenues come from the US, where privacy laws are looser.
The business has grown through acquisitions and effective fraud detection, proving profitable for Relx and its investors.
https://identityweek.net/relx-pivots-from-scientific-publishing-to-ai-fraud-detection/
