Mastercard said it will acquire Ekata for $850 million in a deal that will bolster its identity verification technology.
Ekata's application programming interfaces (APIs) and tools are used by merchants, marketplaces and financial firms across multiple industries. Ekata's platform provides artificial intelligence enhanced risk scoring, indicators and data attributes.
The purchase of Ekata will also bolster Mastercard's digital identity and security framework. Ekata offers a bevy of identify verification services to prevent fraud.
Ekata has APIs for transaction risk, account openings, merchant onboarding, risk, phone intelligence and identity checking via email, phone and address.
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The company also provides at set of tools to speed up manual approvals. The flagship product is Pro Insight, a software-as-a-service tool that analyzes risk and signals.