VIDEO: Mark Begor Joins CNBC To Discuss Kount Acquisition

Equifax Chief Executive Officer Mark Begor joined CNBC’s Closing Bell to talk about the acquisition announcement of digital ID and fraud prevention provider Kount.

Kount will provide Equifax with an AI-driven network of 32 billion online transactions from a vast chain of online retailers, card processors, payment companies, and other businesses around the world. Using these powerful data sets and signals, the ‘Kount Identity Trust Global Network’ detects identity risk and helps block payment and account takeover fraud in real time.

“Consumers across the United States and around the globe are doing more things on their phone, on their tablet, on their computer, and with that comes the requirement to identify who they are,” said Begor. “Having more data, whether it's their email address, their IP address, their cell phone number, their ship-to address, their credit data, enhances the predictability that it reduces fraud.”

This acquisition will expand the Equifax worldwide footprint in digital identity and fraud solutions and also moves Equifax into a new and fast-growing space: e-commerce and retail.