#United States #San Francisco #AI identity #Incode Technologies #AuthenticID

Incode's Acquisition of AuthenticID

In a strategic move aimed at combating identity fraud, Incode Technologies, Inc., a leader in AI-driven identity and trust technologies, has announced the acquisition of AuthenticID. This union promises to create an AI powerhouse that enhances digital trust in the evolving landscape of GenAI fraud.

Expanding Capabilities in Identity Verification

This acquisition is crucial for Incode as it seeks to fortify its market presence and fulfill its mission to ensure digital trust. The integration of AuthenticID's solutions will enhance Incode's existing capabilities, particularly in detecting and preventing identity fraud in real-time.

Incode has been known for its cutting-edge technologies, utilizing advanced neural networks and large visual language models that have consistently demonstrated high accuracy and adaptability. With AuthenticID’s expertise in regulated environments, the partnership aims to provide an unparalleled level of service to enterprise clients, ensuring comprehensive technology solutions and flawless implementations.

Addressing Next-Generation Threats

The need for enhanced security is more pressing than ever, especially as AI technology continues to develop. The challenges posed by sophisticated AI-driven fraud tactics, such as deepfakes that manipulate identities, have led to a significant increase in account-opening fraud—up to 300% year-over-year.

In this context, the combined strength of Incode and AuthenticID forms a formidable front against such threats, equipping businesses with the tools necessary to navigate these risks while promoting growth. Gartner predicts that by 2027, over 25% of consumer interactions may be handled by autonomous AI agents, putting additional pressure on organizations to verify identity effectively.

Leadership in Digital Identity

This acquisition positions the newly formed entity as a leader in the AI-powered digital identity space, a market projected to reach $116 billion by 2027. Incode has already achieved impressive metrics, processing over 4.1 billion identity checks in 2024 and serving eight of the ten largest banks in the United States. Furthermore, it defends leading telecom companies, neobanks, and numerous businesses across various sectors, ensuring they are safeguarded against identity threats.

Voices from Leadership

Ricardo Amper, Founder and CEO of Incode, emphasized the importance of this acquisition stating, "In the age of synthetic fraud and AI impersonation, verifying human identity has become the foundation of digital trust. Together with AuthenticID, we're hardening the front line against these threats, ensuring that every enterprise can trust every interaction."

Reed Taussig, CEO of AuthenticID, added, "As AI-driven fraud increases in sophistication, our clients need comprehensive solutions rather than isolated responses. This partnership allows us to offer a holistic AI-first approach across our expanded customer base, creating a valuable resource for identity management."

About Incode and AuthenticID

Incode Technologies is renowned for its commitment to providing seamless, secure AI-driven identity solutions. With a mission to foster trust across industries, Incode works with various organizations such as banks, fintech companies, and governmental bodies. Its headquarters are located in San Francisco, with a presence in Europe and Latin America.

AuthenticID, established in 2001, is recognized for its innovative approach to identity verification and fraud detection. The company's automated solutions are utilized by many leading financial services firms and identity verification platforms, ensuring a high standard of security without compromising user experience.

This acquisition is set to redefine the landscape of digital identity verification and fraud management, as Incode and AuthenticID work together to create a safer digital future.