LexisNexis’ risk solutions business unit has acquired identity management and anti-fraud services provider Tracesmart with the goal of bolstering offerings for banking, insurance and public sector clients.
Tracesmart develops Web-based software applications for identity validation, debt collection, anti-money laundering and fraud prevention in the U.K., LexisNexis said Tuesday.
Rick Trainor, CEO of business services at LexisNexis Risk Solutions, said the company intends to extend its technologies beyond the U.S. to address customer needs.
“LexisNexis and Tracesmart share a vision for product innovation and development,” added Mike Trezise, managing director of Tracesmart.
Tracesmart previously acquired Verid Knowledge Based Authentication Technology, WorldCompliance and MapFlow to expand identity management and fraud prevention services.