IDVerse acquired by LexisNexis to boost biometric fraud protection

LexisNexis Risk Solutions has struck a deal to acquire IDVerse adding biometric fraud protection to its portfolio of analytics and global data networks for risk assessment and defense against cybercrime.

IDVerse’s ID document authenticity checks, selfie biometrics and liveness detection are already integrated with LexisNexis’ platform. It will now become part of LexisNexis Risk Solutions Business Services. LexisNexis itself is a subsidiary of Relx.

The combined technologies of IDVerse and LexisNexis Risk Solutions will be offered in solutions that they say will further protect consumers while being more financially inclusive for trusted customers. The combination of LexisNexis’ identity verification and IDVerse’s proprietary, deep neural network-powered technology will deliver adaptability to deal with emerging threats. And the combined entity has global document authentication capabilities that strengthen defense against AI-generated fraud, they say, and the AI developed by IDVerse also updates its fraud models automatically.

“AI-powered solutions are necessary to counter the threat of AI-generated fraud attacks, including deepfakes,” comments Rick Trainor, CEO of Business Services for LexisNexis Risk Solutions in the announcement. “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.”

IDVerse rebranded from OCR Labs last year amid a pivot to feature its Zero Bias AI, developed in part through the pioneering use of synthetic data for model training, as Co-founder and Chief Technology Officer Matthew Adams explained to Biometric Update in an interview last September.

“LexisNexis Risk Solutions has been at the forefront of enabling compliance and lowering risk for businesses worldwide for decades,” says IDVerse CEO John Myers. “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.”

LexisNexis is part of the U.S. GSA’s biometric bias tests as it works towards implementing face biometrics to onboard users to Login.gov.

The terms of the transaction, which is expected to be completed in early 2025 after the usual regulatory approvals, were not disclosed.

Article Topics

acquisitions  |  biometrics  |  digital identity  |  fraud prevention  |  identity verification  |  IDVerse  |  LexisNexis