LexisNexis to acquire deepfake detector IDVerse for undisclosed sum
LexisNexis Risk Solutions has inked an agreement to acquire IDVerse, formerly known as OCR Labs Global, for an undisclosed sum.
LexisNexis set to acquire IDVerse
The deal will see IDVerse become part of LexisNexis Risk Solutions Business Services, with its automated document authentication and fraud detection capabilities set to be integrated across LexisNexis’ solutions.
The transaction is expected to close in early 2025.
Founded in Australia in 2018, IDVerse provides identity verification solutions to governments and global companies like HSBC, Uber, and Experian. Recent takers of IDVerse’s tech include the London Stock Exchange Group (LSEG), which adopted the company’s digital identity verification tools for customer onboarding, and UK-based lender Hastings Direct Loans.
IDVerse’s specialist solutions leverage AI, deep neural networks and biometric algorithms to detect deepfakes across more than 16,000 document types.
In a statement, LexisNexis says the acquisition will “enhance customer readiness for future fraud threats”, describing the agreement as a “natural evolution in addressing AI-generated fraud”.
The self-learning capabilities of IDVerse’s technology, which automatically update fraud models, will also enable a “rapid response to new fraud schemes worldwide”, the company adds.
LexisNexis, owned by the Relx Group, is a provider of information-based analytics and decision tools. The company previously acquired cloud-based orchestration platform TruNarrative in 2021 and behavioural biometrics technology provider BehavioSec the following year.
