Equifax Completes Purchase Of Kount

Equifax Completes Purchase Of Kount

Equifax has closed on its purchase of fraud prevention and digital ID firm Kount following the Jan. 8, 2021, announcement of a definitive deal to acquire the company, according to a press release.

Equifax grows its global footprint in digital identity and fraud prevention offerings with the purchase, letting international companies use the power of artificial intelligence (AI) to establish formidable digital identity trust and better engage with their clients through the web, according to the announcement.

The Kount Identity Trust Global Network harnesses AI to connect trust and fraud data signals from 32 billion online interactions, 17 billion devices and 5 billion yearly transactions throughout 200 nations and territories. The network becomes more predictive as additional signals are gathered and joined with Kount’s AI-fueled analytic insights, helping to prevent online fraud and guard against account takeovers in real time while allowing for tailored client experiences.

“COVID-19 has driven customer interactions online in record numbers. As digital transformation accelerates, the risk of online fraud has also multiplied in a way that we believe will permanently alter the online landscape,” Equifax CEO Mark W. Begor said in the announcement. “The combination of Kount solutions with Equifax differentiated data assets and cloud capabilities will enable us to quickly take advantage of new fraud prevention and digital identity offerings to deliver for our customers and drive Equifax growth.”

Kount, an Equifax company, is now part of Equifax’s United States Information Solutions (USIS) business unit. Kount CEO Bradley Wiskirchen has taken on the position of senior vice president and general manager of the new Boise, Idaho-based Equifax USIS division.

“The combination of Kount and Equifax will help more businesses around the world to better protect their digital presence and their customers against emerging threats while offering a frictionless customer experience,” Sid Singh, president of USIS at Equifax, said in the announcement. “This acquisition further positions Equifax as a major global player in Digital Identity Trust, which is increasingly important as eCommerce and consumer finance converge, and both require establishing accurate trust levels in real time.”

In a Jan. 11 call with investors to discuss the purchase, Begor, Singh and Equifax Chief Financial Officer John Gamble said the arrangement cements the AI-powered fraud defenses that are essential in an online shopping market worth trillions of dollars throughout the world.