US-based AI-driven identity and trust technology provider, Incode Technologies, has acquired fraud detection and identity verification company, AuthenticID, to enhance digital trust and prevent ID fraud.
The acquisition is part of Incode’s strategic mission to create a new AI-based powerhouse that delivers secure, scalable, and intelligent digital identity solutions to rapidly detect and fight the latest types of fraud, including GenAI fraud and digital fraud. The acquisition is also expected to accelerate Incode’s 80% YoY organic growth rate and further establish its position as one of the important players in the global market.
More details about the acquisition
By adding AuthenticID into its portfolio, Incode aims to help more customers eliminate fraud and maximise its growth. The company’s proprietary AI innovations, which include large visual language models and advanced neural networks specifically trained to detect and prevent identity fraud in real time, are recognised for their accuracy, adaptability, and speed.
At the same time, AuthenticID brings high expertise in regulated, high-volume environments, which is crucial for enterprise customers to receive best-in-class technology and ensure flawless implementation of a suite of services.
The constant battle against AI-powered fraud
The acquisition of AuthenticID will help Incode deliver innovative tech solutions to detect and fight against the most advanced types of AI fraud. In an era where synthetic fraud, AI impersonation, and Agentic AI become everyday tools in the hand of fraudsters to steal identities, fraud prevention companies must step up and incorporate real-time digital solutions to deter the phenomenon.
The most common types of today’s threats include GenAI toolkits used to synthesise deepfakes, both faces and voices, in real-time, which boost the fraudulent activity of opening new accounts. At the same time, we can see a rise in AI agents entering production that could potentially be used to streamline several types of fraud and steal identities.
As AI-driven fraud becomes highly sophisticated, companies must opt for a holistic AI-approach that leverage foundational vision models and deep learning models to deliver an identity orchestration platform. This is exactly where Incode can help, as its platform is fast, secure, and customisable to clients’ requirements.
The acquisition marks the beginning of a new category-defining leader in AI-powered digital identity. Combined, the two companies helped process over 4 billion identity checks in 2024, serve eight of the largest ten banks in the US, secure the top three global neobanks, and defend hundreds of customers across various verticals, including ecommerce, transportation, and social media.
