IDVerse, launched commercially in 2018, offers proprietary deep neural network technology that can authenticate more than 16,000 types of identity documents worldwide. The company focuses on AI-powered fraud prevention and deepfake detection to combat sophisticated digital fraud attempts.
IDVerse will be integrated into LexisNexis Risk Solutions’ Business Services segment. The technology will be accessible through the RiskNarrative platform, IDU, and as a standalone solution in the Dynamic Decision Platform later this year.
Rick Trainor, CEO of Business Services at LexisNexis Risk Solutions, stressed the need to outpace evolving fraud tactics. “Anti-fraud capabilities need to advance as fast or faster than fraudsters innovate their tactics,” he said. “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.”
The acquisition addresses growing concerns about deepfake fraud schemes targeting financial institutions, recently highlighted in a FinCEN warning. The integration will strengthen LexisNexis Risk Solutions’ multi-layered identity verification system and its defenses against AI-generated fraud.
This move extends LexisNexis Risk Solutions’ presence in identity verification, following its acquisition of BehavioSec, which added behavioral biometrics to its portfolio. While financial terms remain undisclosed, the digital identity verification market is expected to reach $18.6 billion by 2026.
The merged technologies will provide RELX clients with comprehensive identity verification and fraud prevention capabilities.
February 19, 2025 – by Ali Nassar-Smith
