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 artificial intelligence (AI) and digital identity fraud prevention solutions, for $ 640 million. As the global digital transformation accelerates, driving customer interactions to record number of digital channels, companies need new ways to build real-time digital identity trust 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 combating fraud with the Kount Identity Trust global network. industry leader risk-based authentication platform.
“As digital migration accelerates, managing online authentication and fraud, optimizing the consumer experience, has become one of our customers’ main challenges. The acquisition of Kount will expand Equifax’s differentiated data assets to bring global companies the information and solutions they need to establish online identity trust, “he said. Mark W. Begor, CEO Equifax. “Equifax is taking advantage of our strong performance in 2020 and cash generation to make this strategic acquisition. Our investments in cloud and technology allow us to quickly and aggressively integrate new data and analytics assets such as Kount into our global capabilities and bring new market products and solutions to our customers. “
The result of a strong patent portfolio, the global Kount Identity Trust network uses AI to link data signals of trust and fraud from 32 billion digital interactions, 17 billion unique devices and five billion annual transactions in 200 countries and territories. As more signals are collected and combined with AI Kount’s analytical information, they become more predictive, helping to prevent digital fraud and protect against real-time account takeover, while allowing for personalized customer experiences.
“Together, Equifax and Kount will leverage a powerful set of differentiated data assets and advanced analytics to provide a high-performance integrated view of both digital native transactions and signals, as well as traditional indicators of offline identity fraud risk,” while maintaining confidentiality and security at the highest levels, “he said Sid Singh, President of US Information Solutions (USIS) at Equifax. “Whether you are a bank, an e-commerce provider or a car dealer, today’s environment requires consumers to have the same – if not better – experience on their digital platform, as they have on the website of a major retailer. electronic. We are enabling companies in all industries to establish a strong trust in the digital identity behind each interaction, while facilitating new forms of online engagement with current and potential customers. “
Identity trust determines the level of trust for each identity behind each payment, account creation and login event. Companies can determine the level of trust and risk they accept to block fraud in real time and allow for personalized customer experiences. Quick and accurate identity trust decisions can provide secure payments, account creation and login events, while reducing digital fraud, refunds, positive fakes and manual reviews.
“More than 9,000 brands worldwide rely on the global Kount Identity Trust network to protect against digital fraud, while enabling personalized customer experiences and new e-commerce channels,” he said. Bradley Wiskirchen, CEO Kount. “We are excited to be able to offer Kount solutions with an extensive set of Equifax data, analysis and products. Equifax’s global coverage will accelerate Kount’s international adoption, enabling us to help more companies around the world better protect their digital innovations and customers. against emerging threats, while improving the customer experience. “
The complete suite of Kount products, including: Kount Order for e-commerce fraud prevention with transaction security rating based on AI Ominiscore; Kount Control to prevent account takeover and digital account protection; Kount data on request for advanced analysis and useful information for customers; and near real-time protection are powered by the global Identity Trust network and will be integrated into Equifax Luminate Platform. Luminate is a comprehensive fraud platform that orchestrates multiple machine learning solutions to provide risk managers with information about managing fraud decisions throughout the consumer account lifecycle.
Kount employees will join the Equifax USIS business unit and will continue to be headquartered in Boise, Idaho. The transaction is subject to normal closing conditions and regulatory review and is expected to be completed in the first quarter of 2021.
ABOUT COUNT
The global Identity Trust Kount network provides real-time fraud prevention and account protection and enables personalized customer experiences for over 9,000 top brands and payment providers. Linked to Kount’s award-winning AI, the global Identity Trust network analyzes signals from 32 billion annual interactions to personalize user experiences across the entire range of trust – from frictionless experiences to fraud blocking. Quick and accurate identity trust decisions offer secure payment, account creation and login events, while reducing digital fraud, refunds, false positives and manual reviews.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe that knowledge drives progress. As a global data, analysis and technology company, we play a key role in the global economy, helping financial institutions, companies, employees and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics and cloud technology provides information about the power of decisions to move people forward. Headquartered in Atlanta and supported by more than 11,000 employees worldwide, Equifax operates or invests in 25 countries in North America, Central and South America, Europe, and Asia Pacific region. For more information, visit Equifax.com
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