Incognia raises USD 15.5 mln Series A to fight identity fraud

Thursday 2 June 2022 06:00 CET | News

US-based mobile authentication platform Incognia has announced it raised USD 15.5 million Series A funding to support growth and counter Identity fraud.

Incognia offers a new approach to mobile app security that requires no action by the user. Instead, the company makes use of location signals and motion sensors on the device to create a location identity unique to each user, like a location fingerprint, that delivers a solution for differentiating trusted users from fraudsters. As an identity solution, Incognia is 10 times more accurate than FaceID in uniquely identifying a user and has a false acceptance rate of less than 1 in 17 million, according to the company.

To address the growing volume of social engineering fraud attacks, Incognia works silently in the background on mobile devices using anonymised location behaviour to create a new form of digital identity that provides a frictionless UX with augmented security. The company addresses the balancing act between friction and security for user authentication and fraud prevention on mobile applications, across industries including fintech, crypto, gaming, delivery, and social.

Company officials stated that traditional authentication and fraud detection solutions aren’t working for the user, or for businesses, and the market is looking for more innovative technologies. Incognia is pushing the frontier of identity assurance and authentication to deliver increased security with minimal user friction.

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Keywords: digital identity, behavioural biometrics, fraud prevention, funding
Categories: Fraud & Financial Crime
Companies: Incognia
Countries: World
This article is part of category

Fraud & Financial Crime


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