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) oriented fraud and digital identity prevention solutions for $ 640 million. As the global digital transformation accelerates, driving customer interactions with digital channels in record numbers, companies are demanding new ways to establish trust in digital identity in real time to combat the growing problem of online fraud and, at the same time , reduce friction with the customer. This acquisition will expand Equifax’s worldwide presence in digital identity and fraud prevention solutions, helping companies to become better involved with their customers while fighting fraud with the Kount Identity Trust Global Network – the industry leader risk-based authentication platform.
“As digital migration accelerates, managing online authentication and fraud while optimizing the consumer experience has become one of our customers’ biggest challenges. The acquisition of Kount will expand Equifax’s differentiated data assets to bring give global companies the information and solutions they need to establish online identity trust, “he said. Mark W. Begor, CEO of Equifax. “Equifax is taking advantage of our strong superior performance and cash generation in 2020 to make this strategic acquisition. Our investments in data cloud and technology allow us to quickly and aggressively integrate new data and analytical assets like Kount into our global capabilities and bring market-leading new 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 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 Kount’s AI-based analytical insights, they become more predictive, helping to prevent digital fraud and protect against real-time account intrusions, enabling personalized customer experiences.
“Together, Equifax and Kount will leverage a powerful set of differentiated data assets and advanced analytics to provide an integrated high-performance view of digitally native transactions and signals and traditional offline identity fraud risk indicators, while maintaining privacy and security in higher levels, “said Sid Singh, President of United States Information Solutions (USIS) at Equifax. “Whether you’re a bank, e-commerce provider or car dealer, today’s environment requires consumers to have the same – if not better – experience on their digital platform than on the website of a major e-commerce retailer. companies in all sectors establish a strong digital identity trust 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 are comfortable accepting to block fraud in real time and enable personalized customer experiences. Fast and accurate identity trust decisions can provide secure payments, account creation and login events, while reducing digital fraud, chargebacks, false positives and manual reviews.
“More than 9,000 brands worldwide rely on the Kount Identity Trust Global Network to protect against digital fraud, enabling personalized customer experiences and new e-commerce channels,” he said. Bradley Wiskirchen, CEO of Kount. “We are excited to be able to offer Kount solutions with a wide range of Equifax data, analytics and products. Equifax’s global reach will accelerate Kount’s international adoption, allowing us to help more companies around the world better protect their digital innovations and their customers against emerging threats while improving the customer experience. “
The complete set of Kount products, including: Kount Command for preventing e-commerce fraud with the Ominiscore AI transaction security rating; Kount Control for account prevention and digital account protection; Kount Data on Demand for advanced analytics and actionable customer insights; and near real-time chargeback protection are provided by the Identity Trust Global Network and will be integrated into the Equifax Luminate Platform. Luminate is a comprehensive fraud platform that orchestrates multiple machine-learning solutions to provide risk managers with insights to help manage fraud decisions throughout the consumer account lifecycle.
Kount employees will join the Equifax USIS business unit and continue to be based on Boise, Idaho. The transaction is subject to customary closing and regulatory review conditions, and is expected to close in the first quarter of 2021.
ABOUT KOUNT
Kount’s Identity Trust Global Network offers fraud prevention and real-time account protection and enables personalized customer experiences for more than 9,000 leading brands and payment providers. Connected by Kount’s award-winning AI, the Identity Trust Global Network analyzes signals from 32 billion interactions annually to personalize user experiences across the spectrum of trust – from guaranteeing frictionless experiences to blocking fraud. Fast and accurate identity trust decisions provide secure payment, account creation and login events while reducing digital fraud, chargebacks, 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 an essential role in the global economy, helping financial institutions, companies, employees and government agencies to make critical decisions with greater confidence. Our unique combination of differentiated data, analytics and cloud technology drives insights into power decisions to move people. Based in Atlanta and supported by more than 11,000 employees worldwide, Equifax operates or has investments in 25 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information visit Equifax.com
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