LexisNexis Risk Solutions has announced an agreement to acquire Australian-headqaurtered IDVerse, which provides “AI-powered” automated document authentication and fraud detection solutions.
IDVerse was launched commercially in 2018 and is used by financial institutions, fintech organisations, the public sector and global enterprises. It has offices in Sydney, Melbourne, London and Silicon Valley.
It 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, according to an annoucnement about the acquisition.
IDVerse claims its technology is “capable of verifying more than 16,000 types of identity documents globally”.
It will become part of LexisNexis Risk Solutions Business Services.
IDVerse’s solutions were already available through LexisNexis Risk Solutions’ platform. The acquisition will integrate IDVerse’s capabilities across solutions.
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