Refinitiv to acquire Giact

Refinitiv is to acquire digital identity, payments verification and fraud prevention solutions provider, Giact Systems.

Giact Systems was founded in Texas in 2004 and now has over 100 employees supporting more than 1,000 companies, payment merchants, financial and insurance customers across the US.

“The nature of financial crime, including fraud tactics is rapidly evolving and becoming more sophisticated. This presents significant challenges for organisations as they embrace online transactions and digital onboarding of customers,” said Phil Cotter, managing director of risk at Refinitiv. “With the addition of GIACT, we can bring customers a comprehensive platform to address fraud, identity theft, money-laundering and payment-related crimes. I’m excited at the prospect of combining the expansive data sets, powerful analytics and human expertise of both organisations to the benefit of our customers, and I look forward to welcoming GIACT to Refinitiv.”

Refinitiv plans to integrate the Giact into its risk and compliance business, subject to closing conditions, by the end of the year.

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