Incode has acquired AuthenticID, an identity verification software provider based in Kirkland, Washington, in an attempt to combat the rising threat of synthetic deepfakes posed by generative and agentic AI developments. The terms of the acquisition have not been disclosed.
AuthenticID will now be merged into Incode’s identity orchestration platform, which features end-to-end identity solutions for organisations to create, manage, and monitor identity verification processes through a single, unified dashboard. This includes advanced neural networks and large visual language models trained to detect and prevent identity fraud in real time.
Incode, led by founder and CEO Ricardo Amper, says the purchase brings to its fraud-fighting remit “deep expertise in regulated, high-volume environments”, with the combined company serving eight of the largest 10 US banks with solutions to combat “the most advanced AI threats”.
The company points to a 300% year-on-year increase in account-opening fraud, which it attributes to GenAI toolkits creating synthetic deepfakes, as a cause for its latest purchase, while also raising concerns around the current advent of AI agents, and their potential application in fraud, stating that “without trusted identity rails, those agents become prime targets for impersonation”.
“In the age of synthetic fraud, AI impersonation, and agentic AI, verifying human identity has become the foundation of digital trust,” comments Amper. “Together with AuthenticID, we’re hardening the front line against these threats, so every enterprise can trust every interaction.”
AuthenticID builds on Incode’s previous acquisition of fellow identity verification platform MetaMap, formerly known as Mati, in June 2024. MetaMap’s platform offers document verification services to verify ownership and detect fraud risk, as well as biometric verification solutions to confirm user liveness and physical identity.
Source: https://www.fintechfutures.com/
