Refinitiv to Acquire Industry Leader Giact Systems

​Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, announced that it has reached a definitive agreement to acquire Giact Systems, LLC (“GIACT”), thus significantly boosting its existing risk and compliance capabilities.

GIACT is an industry leader in digital identity, payments verification and fraud prevention, which are important at a time when organizations are challenged by the rapid growth in digitalization accelerated by the emergence of new fraud threats, global connectivity and world events such as the Covid-19 pandemic.

According to Refinitiv, it will integrate GIACT’s offerings into its risk and compliance business, alongside leading products and services including World-Check, Qual-ID and its recently expanded Enhanced Due Diligence service.

By adding GIACT’s fraud prevention capabilities, Refinitiv is able to brings new offerings to its customers by enhancing and broadening its digital identity verification and document proofing solution, Qual-ID.

Further, GIACT’s extensive US data assets and Refinitiv’s international identity data provide customers a global platform to address identity theft.Customers will also benefit from access to GIACT’s platform alongside Refinitiv’s World-Check risk intelligence data, offering an end-to-end fraud prevention, identity verification and compliance platform that addresses money-laundering risks in addition to preventing monetary loss through fraud.

“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 organizations to the benefit of our customers, and I look forward to welcoming GIACT to Refinitiv,” said Phil Cotter, Managing Director, Risk at Refinitiv.