LexisNexis® Risk Solutions, part of RELX, today announced that it has entered into an agreement to acquire ID Analytics, a trusted provider of credit and fraud risk solutions for enterprises. Based in San Diego and founded in 2002, ID Analytics’s technology delivers risk insights through the combination of proprietary data, patented analytics, and near real-time cross-industry consumer identity behavior.
ID Analytics will become part of the LexisNexis Risk Solutions Business Services group, which uses vast data resources, technology, linking and analytics to deliver actionable insights that enable businesses to better analyze and assess risk, resulting in better outcomes. fintech news
ID Analytics’s solutions complement LexisNexis Risk Solutions in two strategic growth areas: Fraud and Identity Management, offering analytic models and verification solutions to help customers identify consumer risk; and Credit Risk Decisioning, utilizing data attributes to give organizations a better understanding of consumer risk and credit worthiness to promote financial inclusion.
Rick Trainor, CEO of LexisNexis Risk Solutions, Business Services, said, “ID Analytics is widely recognized in the fraud and identity and credit risk space for its differentiated contributory data assets and advanced analytics capabilities. Combined with our strengths of verifying and authenticating physical and digital identities, our customers will benefit from an even more comprehensive approach to detecting and preventing fraud and managing risk.”
Trainor continued, “Our acquisition of ID Analytics is in line with our growth strategy, which has organic growth as our cornerstone, enhanced by acquisitions targeting data and analytics capabilities that complement our existing business.”
Vincent Pilette, CEO of NortonLifeLock, said, “The sale of ID Analytics is another step in the transformation of NortonLifeLock into a pure-play consumer cyber safety leader. We can now be completely focused on our singular mission to protect all areas of consumers’ online lives.”
The transaction is subject to customary conditions and regulatory consents and is expected to close in the first quarter of 2020.
