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LexisNexis Risk Solutions Completes IDVerse Acquisition

1. RELX's LexisNexis Risk Solutions acquires IDVerse, enhancing fraud defense capabilities. 2. IDVerse uses AI for identity verification against fraud and deepfakes. 3. Acquisition strengthens risk insights for global organizations improving fraud management. 4. IDVerse technology verifies over 16,000 identity documents globally. 5. AI integration aims to counter rapidly evolving fraud methods like deepfakes.

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FAQ

Why Bullish?

The acquisition enhances RELX's product offerings, likely boosting market confidence and revenues.

How important is it?

The acquisition could significantly enhance RELX's market position, impacting future revenues positively.

Why Long Term?

The integration of IDVerse's technology positions RELX well for sustainable growth in identity verification.

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RELXIDVLSE: RELNYSE: RELX
Acquisition expands LexisNexis Risk Solutions' capabilities in risk and fraud solutions and enhances digital identity onboarding and identity verification through AI-powered technology , /PRNewswire/ -- LexisNexis® Risk Solutions, part of RELX, closed its acquisition of IDVerse™, a provider of AI-powered document authentication and fraud detection solutions. IDVerse is now part of the Business Services segment of LexisNexis Risk Solutions and will continue to be available within its LexisNexis® RiskNarrative® platform, LexisNexis® IDU®, and will be offered within its LexisNexis® Dynamic Decision Platform® as a stand-alone solution later this year.  Founded in Australia and launched commercially in 2018, IDVerse uses AI to combat fraud and deepfakes. Its proprietary technology is powered by a deep neural network which 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. IDVerse's technology is capable of verifying more than 16,000 types of identity documents globally across organizations in various industries and the public sector.  Once integration is complete, LexisNexis Risk Solutions will offer clients even more robust risk insights to better protect consumers, promote financial inclusion for trusted individuals and help organizations globally maintain an optimal risk posture.  Combining LexisNexis Risk Solutions' multi-layered identity verification tools with IDVerse's complementary AI-powered technology will address both evolving customer needs and emerging threats. Expanding global ID verification capabilities will bolster defenses against AI-generated fraud, while IDVerse's self-learning AI will ensure advanced fraud detection, faster fraud model updates and even more accurate identity verification. Rick Trainor, CEO of Business Services at LexisNexis Risk Solutions, stated, "Anti-fraud capabilities need to advance as fast or faster than fraudsters innovate their tactics. 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, and I'm eager to see how our complementary cutting-edge solutions will combine to take our anti-fraud capabilities to new levels." The terms of the transaction have not been disclosed. About LexisNexis Risk Solutions LexisNexis® Risk Solutions harnesses the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses across multiple industries and governmental entities reduce risk and improve decisions to benefit people around the globe. 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 analytics and decision tools for professional and business customers. For more information, please visit LexisNexis Risk Solutions and RELX. About RELX RELX is a global provider of information-based analytics and decision tools for professional and business customers. RELX serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 36,000 people over 40% of whom are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York stock exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX. The market capitalisation is approximately £69bn/€82bn/$89bn. About IDVerse IDVerse provides tools and infrastructure that help empower the identity verification industry, enabling businesses to verify anyone's identity within seconds using only their face and smartphone. IDVerse harnesses the power of regenerative AI to not only fight fraud and deepfakes but also significantly reduce associated risks. IDVerse is trusted by financial institutions, fintech, the public sector and global enterprises with offices in Sydney, Melbourne, London and Silicon Valley. Media Contacts: LexisNexis Risk SolutionsAde O'Connor+44 78 9091 8264Ade.O'[email protected] SOURCE LexisNexis Risk Solutions WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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