LexisNexis integrating IDVerse biometrics with acquisition complete

Biometric fraud protection services firm IDVerse is now fully part of the Business Services segment of LexisNexis Risk Solutions following the completion of a purchase deal for an undisclosed amount. The full transaction details have not been made public.

LexisNexis, a subsidiary of Relx, announced the completion of the acquisition on February 19, saying the move will enable it expand its capabilities in risk and fraud prevention thanks to IDverse’s deep neural network system. The deal also allows LexisNexis to enhance its digital identity onboarding and identity verification offering with faster fraud model updates and higher accuracy.

The acquisition was disclosed at the end of 2024 with information that it would be completed at the start of this year after the necessary regulatory vetting.

With the purchase now finalized and the system integration ongoing, IDVerse says its biometrics and digital identity orchestration software will be available within the LexisNexis RiskNarrative platform, LexisNexis IDU, and will equally be offered within the LexisNexis Dynamic Decision Platform as a stand-alone solution in the coming months.

Commenting following the conclusion of the purchase deal, Rick Trainor, CEO of Business Services at LexisNexis Risk Solutions, said: “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.”

LexisNexis says integrating IDVerse’s software will allow it to provide “even more robust risk insights to better protect consumers, promote financial inclusion for trusted individuals and help organizations globally maintain an optimal risk posture.”

With its neural network capabilities, IDverse says it can verify over 16,000 different ID document types from several entities. Integrating these capabilities with LexisNexis’ ID verification tools, the business partners believe, will address shifting customer needs and emerging threats, like AI-generated fraud.

Article Topics

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