LexisNexis® Risk Solutions awarded $1.2 Billion Blanket Purchasing Agreement with U.S. Department of Labor to combat Fraud in State Workforce Systems

Rhea-AI Summary

LexisNexis Risk Solutions has secured a $1.2 billion Blanket Purchase Agreement from the United States Department of Labor (DOL) to provide digital identity verification for state unemployment insurance programs. This five-year contract continues the company’s longstanding partnerships with federal and state agencies, targeting fraud in unemployment benefits exacerbated by the pandemic. LexisNexis aims to combat fraud, ensure timely benefits, and improve access through its advanced identity verification solutions.

Positive

• Awarded a $1.2 billion contract with the DOL for identity verification services.
• Continued longstanding partnerships with federal and state agencies.
• Expected to combat over $1 billion in fraudulent payments weekly.

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• None.

WASHINGTON and ATLANTA, July 12, 2021 /PRNewswire/ -- LexisNexis® Risk Solutions, a leading provider of data, analytics and technology to help organizations predict and manage risk, today announced that the United States Department of Labor (DOL) has awarded the company a Blanket Purchase Agreement (BPA) to provide industry leading digital identity verification for state unemployment insurance programs. The five-year, $1.2 billion award is the continuation of longstanding relationships with federal, state, and local agencies.

Unemployment Insurance is a powerful stabilizer for the economy and American workers in times of economic downturn. The pandemic created unanticipated strains on state benefit systems that made them heightened targets for fraud, and this award from the DOL allows LexisNexis Risk Solutions to continue to partner with State Workforce Agencies  to "detect and prevent fraud, promote equitable access, and ensure the timely payment of benefits." This partnership further solidifies LexisNexis Risk Solutions as a leading provider of frictionless, unbiased identity proofing solutions to government agencies and leverages its market leadership to provide critical assistance to Americans in need.

LexisNexis Risk Solutions digital identity and authentication capabilities incorporate identity authentication and document capture with biometric, identity verification and device/digital/behavioral risk assessment. The company's industry leading, comprehensive fraud and identity solution suite transforms data insights into actionable decisioning to provide a holistic view of an identity for enhanced risk assessment and a positive user journey regardless of time of day or touchpoint.

"Unemployment fraud has become an epidemic of its own and state UI agencies need a trusted partner with decades of experience to leverage risk-based digital identity verification tools that work equitably and seamlessly," said Haywood Talcove, CEO, Government, LexisNexis Risk Solutions.  "Our unique solutions stop over $1 billion in fraudulent payments every week and turn data into actionable, unbiased insights without friction for users, which sets us apart from others in our industry. We consider it an honor to put our innovation and research to work to assist government agencies to prevent fraud and get critical, life-saving benefits to the American people."

Join us for the LexisNexis Government Identity Fraud Summit
Please join us for the LexisNexis Risk Solutions Government Identity Fraud Summit, a virtual event taking place on July 21, 2021 from 1:00-4:30pm ET. We are putting together an amazing agenda full of information on all things identity fraud that are important to you and your agency, including a Fraud Trends panel and a Fraud Mitigation Success Stories panel featuring industry leaders. You can find more details about our sessions and speakers and register here.

About LexisNexis Risk Solutions
LexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare, and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers. For more information, please visit www.risk.lexisnexis.com and www.relx.com.

Media Contact:

Paul Eckloff
LexisNexis Risk Solutions
Mobile: +1.202.941.6986
Paul.Eckloff@lnssi.com

 

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SOURCE LexisNexis Risk Solutions

FAQ

What is the value of the contract awarded to LexisNexis by the DOL?

The contract awarded to LexisNexis by the DOL is valued at $1.2 billion.

How long is the Blanket Purchase Agreement with the DOL?

The Blanket Purchase Agreement with the DOL is for a duration of five years.

What is the primary purpose of the contract awarded to LexisNexis?

The primary purpose of the contract is to provide digital identity verification for state unemployment insurance programs.

What problems does LexisNexis aim to address through this contract?

LexisNexis aims to address fraud in unemployment benefits and ensure timely payment of benefits.

When was the contract awarded to LexisNexis by the DOL?

The contract was awarded on July 12, 2021.