LexisNexis Risk Solutions has announced an agreement to acquire IDVerse in a move to enhance its capabilities in risk and fraud management.
The acquisition is set to integrate IDVerse’s advanced AI-powered document authentication and fraud detection technology into LexisNexis Risk Solutions, forming part of its Business Services division. IDVerse, founded and launched in Australia in 2018, is known for its use of AI to tackle complex challenges such as fraud and deepfakes. The company’s technology employs biometric algorithms to verify identity documents and detect fraudulent submissions, with capabilities to authenticate over 16,000 types of identity documents globally.
Rick Trainor, CEO of Business Services for LexisNexis Risk Solutions, spoke on the importance of AI in combating modern fraud threats, stating, “AI-powered solutions are necessary to counter the threat of AI-generated fraud attacks, including deepfakes. 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.”
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https://securitybrief.com.au/story/lexisnexis-to-acquire-idverse-for-advanced-ai-fraud-tools
