LexisNexis® Risk Solutions today announced it is expanding its identity management and fraud prevention solutions for the banking, insurance and public sectors with the acquisition of United Kingdom-based Tracesmart®.
Founded in 1999, Tracesmart is a provider of consumer data and identity, risk and trace solutions serving UK clients by delivering web-based software for tracing, identity verification/fraud prevention, anti-money laundering, debt collection and data cleansing.
"Tracesmart brings to LexisNexis a robust set of UK consumer records, allowing us to extend our capabilities beyond the US in order to better serve our customers. They are a leader in identity management and fraud solutions in the UK, and will be a natural complement to our core competencies," said Rick Trainor, CEO Business Services, LexisNexis Risk Solutions. "Leveraging our HPCC Systems technology and expertise, this strategic acquisition will help provide the foundation for us as we scale the LexisNexis risk business globally."
Tracesmart's client base includes financial services, life and pension, collections, insurance, retail, gaming, non-profit, public sector and consumer sectors.
"LexisNexis and Tracesmart share a vision for product innovation and development, supported by strong people, powerful data and cutting edge technology, said Mike Trezise, Managing Director, Tracesmart. "I'm delighted that we have been able to conclude this agreement; it's a significant and fitting outcome for Tracesmart and its workforce. The management team and staff can now look forward to drive the business to the next level and beyond, under the umbrella of a global organisation."
Acquiring Tracesmart, along with the recent acquisitions of Verid Knowledge Based Authentication Technology, WorldCompliance and MapFlow reaffirm the Company's commitment to provide, enhance and extend its capabilities in identity management and fraud prevention solutions globally.