LexisNexis acquires identity authentication technology

Business
By Dave Larsen
April 4, 2013
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LexisNexis Risk Solutions has acquired RSA Security’s consumer Knowledge Based Authentication technology to further extend its leadership in the identity management and fraud sector, according to a media release.

“This investment demonstrates our commitment to provide — and continuously improve — our capabilities in identity management to help our customers make the right decisions and fight fraud, while protecting their customers from identity theft,” said Dennis Becker, the company’s vice president of identity management, in a statement.

More than 369,000 identity theft complaints were filed with the Federal Trade Commission in 2012, a 32 percent increase from the previous year, according to the Consumer Sentinel Network.

Company officials said financial institutions, retail organizations and government agencies need identity authentication products and services to combat this growing problem. This allows them to mitigate the risk of fraud and comply with federal rules and regulations.

LexisNexis Risk Solutions was spun off from the Dayton-based LexisNexis Legal and Professional division. The Risk Solutions division is located near Atlanta.

LexisNexis has about 3,400 employees and contractors in Miami Twp., which is the company’s biggest single concentration of employment.

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About the Author

Dave Larsen