Equiniti Acquires Risk Factor and KYCnet

Equiniti has completed an acquisition of both Risk Factor and KYCnet BV as it looks to bolster a regulatory focus.

Equiniti Group plc, a provider of financial and technology solutions, has completed a series of deals, acquiring Risk Factor and KYCnet BV (KYCnet) as it looks to solidify its role amongst specialist technology providers, according to an Equiniti statement.

Equiniti’s latest moves in the mergers and acquisitions (M&A) space illustrate the group’s desire to strengthen its focus towards clients with complex and regulated administration needs. The new acquisitions of Risk Factor and KYCnet are important as they fit into Equiniti’s strategy of developing and acquiring specialist technology platforms.

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RiskFactor is a provider of fraud analytics software for commercial finance lending – its integration into Equiniti’s solutions suite will serve as a complement to Equiniti’s other ‘control risk’ capabilities. The area is particularly of note, given the industry-wide focus on operational risk management and big data trends, as well as the realized benefits of fraud prevention.

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KYCnet is an existing Know-Your-Customer (KYC) technology and services provider that helps organizations verify and on-board their respective clientele. The group also provides a plethora of workflow technological capabilities for commercial and retail clients with anti-money laundering applications across financial services and sectors. Consequent to the acquisition, Equiniti will be strategically focused to assist financial services clients that have a KYC need.

According to Guy Wakeley, Chief Executive of Equiniti, in a recent statement on the acquisitions: “We are excited to be delivering on our strategy of developing and acquiring specialist technology platforms with the acquisitions of RiskFactor and KYCnet.”

“The challenges of regulation, digitisation and cost reduction are particularly relevant to our client base both in financial services sector and beyond and the acquisition of these scalable platforms will help to meet these needs. This further demonstrates our position as a provider of innovative technology-led solutions and are examples of the progress we continue to make in enhancing the range of services we offer clients and driving growth through high quality acquisitions,” he added.

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