Conduent expands EBT security features to protect SNAP benefits

NEW JERSEY - Conduent Incorporated (NASDAQ:CNDT), a $421 million market cap company currently trading below its InvestingPro Fair Value, has expanded its Electronic Benefits Transfer (EBT) security features to 12 states, allowing Supplemental Nutrition Assistance Program (SNAP) recipients to lock and unlock their accounts, the company announced in a press release.

The lock/unlock feature, now available in Alabama, Delaware, Georgia, Indiana, Iowa, Maryland, New Jersey, Ohio, Oklahoma, Pennsylvania, South Carolina, and Virginia, enables users to block all purchases or restrict transactions outside their home state through Conduent’s ConnectEBT mobile app and cardholder portal. With annual revenue of $3.19 billion, Conduent maintains a strong market presence despite facing a 14.38% revenue decline in the last twelve months.

This functionality is part of Conduent’s VeriSight Anti-Fraud Suite, which also includes an interactive voice response system that uses behavioral analytics to detect suspicious calling patterns, such as excessive calls from a single number.

Users of the ConnectEBT app can opt in to receive real-time alerts about account activity, helping them quickly identify potential unauthorized transactions.

"Our EBT lock-and-unlock feature is one of many solutions Conduent is delivering to combat fraud that threatens taxpayer funds," said Anna Sever, President of Government Solutions at Conduent.

The company is also working with several states to prepare for the introduction of SNAP cards with EMV chip technology and plans to support mobile wallet integration with services like Apple Pay and Google Pay.

Conduent serves as a provider of government payment disbursements for federally funded benefit programs, processing approximately $85 billion in government payments annually, according to the company’s statement. InvestingPro analysis reveals the company maintains a healthy current ratio of 1.64, though it carries a substantial debt burden of $836 million. Investors seeking deeper insights into Conduent’s financial health and growth prospects can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.

In other recent news, Conduent Inc. reported its Q1 2025 earnings, with revenue reaching $751 million. This figure fell short of the anticipated $784 million, although the earnings per share (EPS) aligned with projections at -$0.13. Despite the revenue miss, the market reacted positively. Additionally, Conduent announced leadership changes within its board of directors. Harsha V. Agadi, currently a board member, will take over as chairman, succeeding Scott Letier. Scott Letier will assume the role of chair for the audit committee. These changes are part of the company’s routine board refreshment efforts.

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