Incode Acquires Identiq to Expand Its Privacy-First Architecture for Identity and Fraud Prevention

Incode Technologies, a global leader in AI-powered identity verification and fraud prevention, today announced that it has completed the acquisition of Identiq, a company specializing in privacy-enhancing cryptographic solutions for peer-to-peer anti-fraud collaboration. Incode announced this acquisition as part of a $100 million commitment to advancing its original privacy-preserving identity infrastructure. The funds will be used to enhance on-device processing capabilities, continue R&D in privacy-enhancing technologies, and expand engineering resources and its global footprint.

“We have always believed that privacy and fraud prevention are not a tradeoff, but part of the same problem, solved together or not at all,” said Ricardo Amper, Founder and CEO of Incode. “Identiq is the piece that enhances our Privacy by Design architecture, the natural culmination of the decisions we made on day one.”

Incode’s privacy commitment rests on three architectural decisions made at the company’s inception:

1. AI-first identity verification: Incode builds on its day-one decision to limit human access to biometric and identity data. In the standard verification flow, Incode’s AI-powered verification, liveness, and document-matching capabilities are designed to automate verification while providing options for human oversight. In the age of agentic fraud, humans and traditional tools are much less effective than AI.
2. On-device processing: Incode’s latest facial age estimation and identity verification products are designed to give the option to the customer to run biometric processing directly on the user’s own device. By keeping biometric data on the user’s device, customers are able to meet their compliance and privacy needs without sacrificing accuracy and security.
3. Collaboration without exposure: With the acquisition of Identiq, institutions can now detect repeat fraud patterns across a network without exposing customer personal data. No central data lakes. No data brokerage. The attack surface that traditional fraud collaboration requires is minimized by design.

Identiq’s proprietary privacy-enhancing technology demonstrated that organizations could share fraud signals without exposing customer data to any third party. This validates Incode's core belief that identity security and data privacy are not a tradeoff. This acquisition accelerates Incode's vision of a world where verified identity travels with you, so trust earned in one place is recognized everywhere.

Identiq spent nearly a decade and invested over $50 million in developing patented privacy technology, solving the core problem in anti-fraud collaboration. Integrated into Incode’s platform, that work is projected to reach billions of verifications annually, adding network fraud intelligence to the platform’s capabilities.

“Every institution shared the same concern with us: how do we fight fraud together without giving up control of our customers’ data,” said Itay Levy, Co-Founder and CEO of Identiq. “Identiq built the answer to that very question. As part of Incode, that answer is now available to every organization that deals with massive amounts of user data.”

Privacy-first architecture in the age of agentic fraud

Incode’s own data shows exponential growth in a new kind of threat: agentic fraud – fraud attempts with the help of AI agents. Incode has processed over 7 billion identity verifications, and in 2024, agentic fraud comprised only 3% of fraud attempts. This number jumped to 40% in the first quarter of 2026, and Incode estimates that the number will exceed 90% in the next 18 months.

According to the Identity Theft Resource Center's 2025 Annual Data Breach Report, the U.S. recorded 3,322 data compromises last year, a record high and a 79% increase over five years. Supply-chain breaches doubled over that same period, underscoring the growing risk from third-party vendors.

Fraudsters collaborate in their activities across institutional boundaries, while the institutions that defend themselves individually are working with a fraction of the threat data. The traditional answer of pooling data across institutions solves one problem by making the other worse. Incode’s approach ensures that institutions never have to make that tradeoff.

Structural privacy, independently certified

Incode’s global compliance program includes SOC 2 Type 2, ISO/IEC 27001, HIPAA Attestation of Compliance, FedRAMP Ready, Age Check Certification Scheme (ACCS), and the Kantara IAL2 Component Services Trust Mark. Backed by enterprise-grade safeguards, including data loss prevention and continuous monitoring, Incode protects the personal information entrusted to it throughout its full lifecycle.

For more information or to schedule a live demo, visit incode.com/privacy.

About Incode

Incode is a global leader in AI-driven identity and trust, with a mission to power a world of trust at the speed of AI. The platform verifies identity and age, stops fraud, and turns verification into business enablement. Incode builds its own frontier models, adapting to any new fraud while letting good users through - trained on one of the industry's largest identity datasets: 7 billion+ trust checks and 400 million+ profiles worldwide, on a privacy-by-design architecture. Incode's customers include eight of the top ten U.S. banks, eight of the top nine U.S. telcos, three of the top three global neobanks, and four of the top five global marketplaces. Founded in 2015 in San Francisco, Incode is a team of 600+ across 25+ nationalities and a Leader in the Gartner® Magic Quadrant™ for Identity Verification.

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