Experian has acquired KYC360, a Jersey-based regulatory technology firm, to strengthen its fraud prevention and financial crime compliance capabilities across the UK and Ireland. The financial terms of the transaction are undisclosed.
Founded in 2017 by CEO Stephen Platt, KYC360 serves more than 1,000 organisations spanning financial services, insurance, legal and accounting firms, gaming, and industrial sectors. Notable clients include AXA, Standard Bank, and Altum Group.
The company’s Software-as-a-Service (SaaS) platform delivers a range of anti-financial crime solutions, encompassing customer lifecycle management (CLM), onboarding, and screening capabilities.
According to a LinkedIn post announcing the sale, Platt confirmed that he, along with chief commercial officer Tom Delvin and head of technology Neal King, will “maintain our roles within the company under our new ownership”.
KYC360’s CLM suite, which launched earlier this year, enables organisations to verify and update customer and business information throughout the entire client journey.
Experian intends to incorporate KYC360’s technology into its Ascend platform, which combines data analytics, AI, and fraud prevention tools to support credit lifecycle management. The enhanced platform will become available to clients beginning next year, delivering “optimised compliance, faster onboarding, and reduced operational costs”, according to Experian.
This acquisition represents a continuation of Experian’s strategic expansion in fraud prevention technology. The company previously purchased US-based behavioural analytics start-up NeuroID for an undisclosed amount, with that transaction completing in August 2024. NeuroID’s digital behavioural insights technology was integrated into the CrossCore system within Experian’s Ascend platform.
Source: https://www.fintechfutures.com/
