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LexisNexis Possibility Answers, a part of RELX, has finished its acquisition of IDVerse, an AI-driven id verification and fraud detection supplier. The phrases of the deal weren’t disclosed.
IDVerse, based in Australia in 2018, specialises in record authentication and biometric id verification.
Its era, powered via a deep neural community, can examine greater than 16,000 sorts of id paperwork globally.
With client consent, IDVerse’s AI verifies authenticity earlier than matching the shopper’s face to the record picture.
It additionally detects fraudulent submissions the use of liveness detection and AI-powered fraud prevention gear.
Following the purchase, IDVerse might be built-in into the Trade Services and products phase of LexisNexis Possibility Answers and stay to be had during the corporate’s RiskNarrative and IDU platforms.
A stand-alone model of IDVerse’s era and its availability at the Dynamic Choice Platform are anticipated later this yr.
IDVerse’s self-learning AI will give a contribution to extra environment friendly and quicker fraud detection type updates and stepped forward accuracy in id verification.
LexisNexis Possibility Answers mentioned the purchase will make bigger its virtual id verification features and toughen fraud prevention efforts, in particular in opposition to AI-generated threats equivalent to deepfakes.
The corporate targets to supply companies with more potent chance insights whilst supporting monetary inclusion efforts.
Rick Trainor
Rick Trainor, CEO of Trade Services and products at LexisNexis Possibility Answers, mentioned,
“Anti-fraud features want to advance as rapid or quicker than fraudsters innovate their techniques. AI-powered answers are essential in protecting in opposition to fraud, in particular AI-generated fraud equivalent to deepfakes.
IDVerse’s speeded up innovation on this box is spectacular, and I’m keen to peer how our complementary state-of-the-art answers will mix to take our anti-fraud features to new ranges.”
Featured symbol credit score: Edited from Freepik
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