LegitScript, the leader in merchant and product certification and monitoring in the advertising, e-commerce, and payment sectors, announced it has acquired Fluxguard, the leader in AI-powered website change detection and monitoring for global risk and compliance teams.
Originally launched in 2018, Fluxguard uses artificial intelligence to deliver website change detection and monitoring at scale and with extreme precision. Fluxguard’s advanced technology automatically detects new and deleted content on any web property, including those that require complex multi-step sequences or interactions. Hundreds of risk and compliance teams across the globe rely on Fluxguard to surface leaks, errors, defacement, and compliance risk; automate competitive and regulatory intelligence; and monitor and validate partner integrations.
According to KPMG’s Third-Party Risk Management Outlook report, businesses are spending more than $300B dealing with regulatory change and increasing amounts of time and effort are devoted to control, risk, and compliance functions. One of the biggest challenges is third-party risk management and, unfortunately, previous technology solutions have been inadequate to support the needs of risk and compliance teams. Fluxguard changes that dynamic by providing a flexible platform that can be deployed across several different risk vectors and use cases.
“Now more than ever, it is critical for risk and compliance teams to have detailed website change detection capabilities in place for their owned website properties as well as the third parties that they are doing business with,” said Scott Roth, CEO of LegitScript. “By partnering together with the Fluxguard team we will be able to bring extremely valuable new technology and insights to LegitScript and Fluxguard clients — all with a desire to minimize potential internal, external, and third-party risks.”
As a part of the acquisition, Fluxguard will continue to be made available as a standalone solution, and over the coming months the LegitScript and Fluxguard teams will work to integrate their existing capabilities together to create new offerings that will serve both existing and new clients and partners of both organizations.
“We are extremely excited to join forces with the LegitScript team so that we can continue to bring to life our vision for Fluxguard and also enhance LegitScript’s existing capabilities,” said Peter Bray, founder and CEO of Fluxguard. “Our companies are aligned on a similar mission and vision for using advanced technology to solve complex business problems for risk and compliance teams.”
SOURCE: Businesswire