The acquisitions further demonstrate Equiniti’s strategy of developing and acquiring specialist technology platforms to meet the combined challenges of regulation, digitisation and cost reduction. These scalable technology platforms provide regulation driven non-discretionary services to meet the needs of its extensive existing client base.

RiskFactor is a market leading provider of fraud analytics software for commercial finance lending that complements Equiniti’s other ‘control risk’ capabilities.
Fraud is an especially hot-topic within the retail and business banking sector, where increasing numbers of payments are made online and through multiple disparate channels (online, mobile, B2B, B2C). Regulation, operational risk management, big data trends and the commercial benefits of fraud prevention are driving demand for effective fraud detection in the sector.

KYCnet is an experienced Know-Your-Customer (KYC) technology and services provider which helps organisations verify and on-board their customers. It provides cutting edge workflow technology for commercial and retail clients and has broad anti-money laundering applications across financial services as well as retail, travel and utilities sectors.

Tighter regulatory requirements, particularly in financial services, have caused companies to review and rapidly amend their KYC processes and capabilities. In doing so, many are finding that their new processes have created barriers to servicing and growing their customer base, and have discovered that their existing customer data often fails to meet regulatory standards. This acquisition ideally positions Equiniti to assist financial services clients that have a KYC need in addressing these challenges.

Guy Wakeley, Chief Executive of Equiniti, said: “We are excited to be delivering on our strategy of developing and acquiring specialist technology platforms with the acquisitions of RiskFactor and KYCnet. The challenges of regulation, digitisation and cost reduction are particularly relevant to our client base both in financial services sector and beyond and the acquisition of these scalable platforms will help to meet these needs. This further demonstrates our position as a provider of innovative technology-led solutions and are examples of the progress we continue to make in enhancing the range of services we offer clients and driving growth through high quality acquisitions.”