LexisNexis Risk Solutions has agreed with NortonLifeLock to acquire ID Analytics to boost its Fraud and Credit Risk Assessment departments, LexisNexis announced on Monday.
Procuring ID Analytics will galvanize LexisNexis in 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. Both have been designated as strategic growth areas by the acquiring company.
"ID Analytics is widely recognized in the fraud and identity and credit risk space for its differentiated contributory data assets and advanced analytics capabilities,” said Rick Trainor, CEO of LexisNexis Business Services.
Such assets include patented analytics and near real-time cross industry consumer identity behavior. When this is combined with LexisNexis’ large trove of data, technology, as well as their own analytics it could deliver actionable insights to customers that result in better business outcomes.
“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 added.
The acquisition is for undisclosed financial terms pending regulatory review, with an expected close date in the first quarter of 2020.
About LexisNexis Risk Solutions
LexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government.
Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based and analytics and decision tools for professional and business customers across industries. For more information, please visit www.risk.lexisnexis.com and www.relx.com.