DALLAS — May 11, 2021 — GIACT®, the leader in helping companies positively identify and authenticate customers, today announced that Refinitiv’s acquisition of GIACT has been named Fintech Fraud Detection Deal of the Year 2021 winner by Mergers & Acquisitions.
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Mergers & Acquisitions, the oldest trade brand for the dealmaker community, according to the publication’s website, recognized Refinitiv’s purchase of GIACT from Tritium Partners as underscoring “the strong need for cybersecurity in a virtual world.” The recognition cited the need for stronger fraud protections particularly following the pandemic, in a remote work environment, and amid an acceleration of fraud attacks in both volume and sophistication.
Together, GIACT’s EPIC Platform® and Refinitiv’s World-Check provide businesses, financial institutions, government entities and others with a comprehensive fraud detection, identity verification and compliance platform, built to address all types of payments and identity fraud.
Bolstering fraud detection
“The pandemic underscored the cybersecurity shortfalls that have been bubbling to the surface for years now,” said James Mirfin, Global Head of Digital Identity and Financial Crime Propositions at Refinitiv. “Over the past year, we’ve seen headline after headline of businesses, consumers and public programs that have been attacked by fraudsters. The combination of Refinitiv’s vast data assets and scale with GIACT’s EPIC Platform will increase our mutual capabilities to continue to stay ahead of the latest fraud trends, and to protect our customers.”
“Nearly half of customers have been impacted by identity theft in the past two years – the costs to consumers and businesses are getting out of control. We can’t just stand by and continue with the status quo,” said Melissa Solis, Head of GIACT. “With Refinitiv, GIACT is able deploy a truly holistic approach to identity validation and payment authentication, managing the entire customer lifecycle, from enrollment, payment, and on an ongoing basis. We are glad to be recognized alongside our new colleagues at Refinitiv.”
Refinitiv’s acquisition of GIACT was successfully completed in late 2020.
GIACT®, a Refinitiv company, is the leader in helping companies positively identify and authenticate customers. Since 2004, GIACT has been empowering businesses across all industries with data-driven insights to prevent identity and payments fraud and improve compliance procedures, all through a single platform — the EPIC Platform®. For more information, visit www.giact.com or call 1-866-918-2409. Follow us on LinkedIn and Twitter.