Equifax said Friday that it has signed a offer to get Kount, suppliers of electronic identity and fraud avoidance application, for $640 million. Equifax explained it options to use Kount’s technologies to bolster its footprint in digital id and fraud avoidance sector.

Kount’s application depends on artificial intelligence to backlink believe in and fraud data alerts from billions of electronic interactions, gadgets, and annual transactions. The indicators are collected and combined with Kount’s AI-pushed predictive insights to assist organizations avoid electronic fraud and secure from account takeovers in actual time.

Utilized to small business transactions, Equifax posits that Kount’s technological know-how can support aid more rapidly and additional accurate identification believe in choices, which includes payments, account creations and login, when also decreasing fraud, chargebacks, fake positives, and handbook reviews.

“The acquisition of Kount will grow Equifax’s differentiated information property to convey global enterprises the info and alternatives they will need to build id believe in on line,” mentioned Mark Begor, CEO of Equifax. “Equifax is using edge of our strong 2020 outperformance and dollars era to make this strategic acquisition. Our data and technological innovation cloud investments permit us to speedily and aggressively integrate new knowledge and analytics assets like Kount into our world capabilities and carry new current market main goods and alternatives to our prospects.”

The whole suite of Kount goods will be built-in into the Equifax Luminate fraud system, which aims to assistance regulate fraud conclusions throughout the client account lifecycle.