ATLANTA, January 8, 2021 / PRNewswire / – Equifax® (NYSE: EFX), a global data, analytics and technology company, has signed a definitive agreement to acquire Kount, a provider of digital identity and fraud prevention solutions driven by artificial intelligence (AI), for $ 640 million. As global digital transformation accelerates, driving customer interactions toward digital channels in record numbers, companies are demanding new ways to build trust in digital identity in real time to combat the growing problem of online fraud, while reducing customer friction. This acquisition will expand Equifax’s global footprint in digital identity and fraud prevention solutions, helping companies better engage with their customers while fighting fraud with Kount Identity Trust’s global network. industry leader risk-based authentication platform.
“As digital migration accelerates, managing authentication and online fraud while optimizing the consumer experience has become one of our customers’ main challenges. Acquiring Kount will expand the Equifax’s differentiated data resources to provide global companies with the information and solutions they need to build trust in their online identity, ”he said. Mark W. Begor, CEO of Equifax. “Equifax is leveraging our strong profitability and cash generation by 2020 to make this strategic acquisition. Our investments in data cloud and technology allow us to quickly and aggressively integrate new data and analytics assets like Kount into our global capabilities and bring new products and solutions to our customers “.
As a result of a strong patent portfolio, the global Kount Identity Trust network uses AI to link trusted and fraudulent data signals from 32 billion digital interactions, 17 billion unique devices and five billion annual transactions in 200 countries and territories. As more signs are collected and combined with Kount’s artificial intelligence-based analytical data, they become more predictive, helping to prevent digital fraud and protect against real-time account acquisitions, while allowing personalized customer experiences.
“Together, Equifax and Kount will leverage a powerful set of differentiated data resources and advanced analytics to deliver an integrated, high-performance view of both digitally native transactions and signals as well as traditional offline identity fraud risk indicators, maintaining privacy and security at the highest levels. ” Sid Singh, President of United States Information Solutions (USIS) at Equifax. “Whether you are a bank, an e-commerce provider or a car dealership, the current environment demands that consumers have the same experience, if not better, on their digital platform as they do on the website. a major e-commerce retailer. enabling companies in all industries to establish a strong trust in the digital identity behind each interaction while facilitating new forms of online interaction with current and potential customers. “
Identity trust determines the level of trust of each identity behind each payment event, account creation, and login. Companies can determine the level of trust and risk they accept to block real-time fraud and allow for personalized customer experiences. Fast and accurate identity trust decisions can provide secure payments, account creation, and login events, while reducing digital fraud, retrocessions, false positives, and manual reviews.
“More than 9,000 brands worldwide rely on Kount Identity Trust’s global network to protect themselves against digital fraud while enabling personalized customer experiences and new e-commerce channels,” he said. Bradley Wiskirchen, CEO of Kount. “We are delighted to be able to offer Kount solutions with a comprehensive set of Equifax data, analysis and products. Equifax’s global reach will accelerate Kount’s international adoption, allowing us to help more companies around the world to better protect their digital innovations and customers from emerging threats while enhancing the customer experience. “
The complete set of Kount products, including: Kount Command for e-commerce fraud prevention with AI Ominiscore-based transaction security classification; Kount Control for account prevention and digital account protection; Kount a la carte data for advanced analysis and customer statistics; and real-time retraction protection almost performed with Identity Trust Global Network technology and will be integrated into the network Equifax Luminate platform. Luminate is a comprehensive fraud platform that orchestrates multiple machine learning solutions to provide information to risk managers to help manage fraud decisions throughout the consumer account lifecycle.
Kount employees will join the Equifax USIS business unit and continue to establish themselves in Boise, Idaho. The transaction is subject to the usual closing conditions and regulatory review, and is expected to close in the first quarter of 2021.
ON COUNT
Kount’s global Identity Trust network offers real-time fraud prevention and account protection and enables personalized customer experiences for more than 9,000 leading brands and payment providers. Linked by Kount’s award-winning AI, the Identity Trust Global Network analyzes the signals of 32 billion annual interactions to customize user experiences across the spectrum of trust, from ensuring friction-free experiences to blocking fraud . Fast and accurate identity trust decisions offer secure payment, account creation, and sign-in events, while reducing digital fraud, rebates, false positives, and manual reviews.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe that knowledge drives progress. As a global data, analytics, and technology company, we play a vital role in the global economy by helping financial institutions, businesses, employees, and government agencies make critical decisions with more confidence. Our unique combination of differentiated data, analytics, and cloud technology provides insight into power decisions to move forward. Based in Atlanta and with the support of more than 11,000 employees worldwide, Equifax operates or has investments in 25 countries North America, Central i South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com
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