LexisNexis Risk Solutions closed January by announcing it finalized the acquisition of ID Analytics, the San Diego-based provider of fraud and credit risk solutions.
Previously, ID Analytics was a NortonLifeLock company.
LexisNexis Risk Solutions said the strategic acquisition of data and analytics pioneer ID Analytics highlights the company’s commitment to expanding its innovation and expertise in verifying and authenticating consumer identities.
ID Analytics is now part of the business services group of LexisNexis Risk Solutions.
Founded in 2002, ID Analytics provides consumer credit risk and fraud analytics solutions to the telecommunications and financial services segments in the United States. These solutions can provide insight into consumer behavior through proprietary data and analytics to enable more predictive credit decisions across the customer lifecycle.
ID Analytics solutions also utilize traditional and alternative data within its ID Network, one of the largest networks of cross-industry consumer behavioral data in the U.S., to help organizations better identify applicant fraud risk.
“The combined capabilities from LexisNexis Risk Solutions and ID Analytics will provide our customers with a more accurate and comprehensive approach to fraud and identity and credit risk management across all forms of commerce,” said Rick Trainor, who is chief executive officer business services at LexisNexis Risk Solutions. “The ID Network in particular is a powerful consortium platform that will enhance our existing digital and physical identity verification and authentication services.
“We look forward to delivering stronger identity and alternative credit risk solutions to our customers and continuing with our on-going innovation with the combined strength of our data and analytics services,” Trainor continued.
“LexisNexis Risk Solutions is focused on making it easier for our customers to do business,” he went on to say. “We will continue to execute against this strategy by purposefully enhancing our solutions to help our customers manage risk and make better-informed decisions. The addition of new machine learning and data modeling capabilities from ID Analytics enables us to more rapidly achieve this goal to the benefit of our customers.”
ID Analytics CEO added Matt McAluney added, “For nearly two decades ID Analytics has served at the forefront of fraud and credit risk management, helping our customers thrive and grow while balancing risk. It is exciting to join forces with an organization whose complementary solutions align with our vision of helping customers better detect fraud and manage risk.”