ATLANTA, 8 January 2021 / PRNewswire / – Equifax® (NYSE: EFX), a global data, analytics and technology company, has signed a final agreement to acquire Kount, a provider of artificial intelligence (AI) -driven fraud and digital identity solutions for $ 640 million. As global digital transformation accelerates, increasing customer interactions with digital channels in record numbers, businesses need new ways to create real-time digital identity trust to combat the growing problem of online fraud while reducing customer friction. This acquisition will increase the Equifax global footprint in digital identity and fraud prevention solutions, which will help businesses better engage with their customers while cheating with the Kount Identity Trust Global Network – the industry’s leading risk-based verification platform.
“As digital migration accelerates, the management of authentication and online fraud, while optimizing the consumer’s experience, has become one of our customers’ biggest challenges. Acquiring Kount will expand Equifax’s differentiated data assets to global businesses the information and provide solutions they need to establish identity trust. online, “he said. Mark W. Begor, CEO of Equifax. “Equifax leverages our strong performance in 2020 and cash generation to make this strategic acquisition. Our data and technology cloud investments enable us to quickly and aggressively integrate new data and analytics assets such as Kount into our global capabilities and new leading products and solutions for our customers. ‘
The result of a strong patent portfolio, the Kount Identity Trust Global Network uses AI to link trust and fraud data signals of 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 Kount’s AI – driven analytics insights, it becomes more predictable, helping it prevent digital fraud and protect it in real time from account takeovers, while enabling personalized customer experiences.
“Together, Equifax and Kount will leverage a powerful set of differentiated data assets and advanced analytics to deliver high-performance, integrated version of both digital-born transactions and signals and traditional risk indicators for identity fraud, while privacy and security maintained at the highest levels., said Sid Singh, President of United States Information Solutions (USIS) by Equifax. “Whether you’re a bank, e-commerce provider, or a car dealer, today’s environment requires consumers to have the same – if not better – experience on their digital platform than on a large e-commerce store. We’re what businesses enables all industries to establish a strong digital identity trust behind each interaction, while enabling new forms of online engagement with current and prospective customers.
Identity Trust determines the level of trust for each identity behind each payment, account creation and signup event. Businesses can determine the level of trust and risk they are comfortable accepting to block fraud in real time and to enable personalized customer experiences. Quick and accurate identity trust decisions can deliver secure payments, account creation and reporting events, while reducing digital fraud, recovery, false positives and manual reviews.
“More than 9,000 brands worldwide rely on the Kount Identity Trust Global Network to protect against digital fraud while enabling personal customers and new e-commerce channels,” he said. Bradley Wiskirchen, CEO of Kount. “We are excited to offer Kount solutions with a comprehensive set of Equifax data, analytics and products. Equifax’s global reach will accelerate Kount’s international acceptance, enabling us to reach more businesses around the world help better protect their digital innovations and their customers from emerging threats while enhancing the customer experience. “
The full range of Kount products, including: Kount Command for E-Commerce E-Commerce Prevention with the Ominiscore AI-Driven Security Rating; Account Control for preventing account takeovers and protecting digital accounts; Kount Data on Demand for advanced analysis and practical insights from customers; and Near Real Time Chargeback protection are powered by the Identity Trust Global Network and will be integrated into the Equifax Luminate platform. Luminate is a comprehensive fraud platform that orchestrates machine learning solutions to provide risk managers with insights to help manage fraudulent consumer account life cycle decisions.
Account employees will join the Equifax USIS business unit and continue in Boise, Idaho. The transaction is subject to normal closing conditions and revision of the regulations, and is expected to close in the first quarter of 2021.
ABOUT KOUNT
Kount’s Identity Trust Global Network provides real-time fraud prevention and account protection, enabling 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 signals from 32 billion annual interactions to personalize user experiences across the entire spectrum of trust – from frictionless experiences to fraud prevention. Fast and accurate identity trust decisions deliver secure payment, account creation and sign-up events, while reducing digital fraud, recovery, 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 key role in the global economy by helping financial institutions, companies, employees and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics and cloud technology drives insights into power decisions to move people forward. Headquarters in Atlanta and supported by more than 11,000 employees worldwide, operates Equifax or invests in 25 countries North America, Central and South America, Europe, and the Asian Pacific region. For more information, visit Equifax.com
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