14 DAY TRIAL // Experian has entered a definitive agreement to buy 41st Parameter, a company that develops device identification technology designed to detect web fraud.
By acquiring 41st Parameter, Experian wants to enhance the fraud detection and identity authentication services it provides to customers.
41st Parameter technology is currently used by financial organizations from all over the world. The company’s solutions rely on a method called “risk-based authentication” which involves applying various levels of stringency to authentication processes.
The level of stringency depends on the likelihood that access to a given system could result in it being compromised. The technology is said to considerably reduce false fraud detections.
“In today's digital world, organizations need to recognize the devices used by their customers in order to provide a safe and effective experience,” noted Alan Naumann, president and CEO of 41st Parameter. “I am excited that by combining our team with Experian we can together deliver very unique and effective solutions to our mutual clients around the world.”
The financial terms of the deal have not been disclosed.