Incode Technologies 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 is a global provider of AI-powered identity verification and fraud prevention solutions. The company said the acquisition expands its privacy-by-design architecture by adding Identiq’s patented cryptographic technology, which enables organizations to share fraud signals without sharing sensitive customer data.
Incode announced the acquisition as part of a $100 million commitment to advancing its privacy-preserving identity infrastructure. The funds will be used to enhance on-device processing capabilities, continue research and development in privacy-enhancing technologies, expand engineering resources, and grow the company’s global footprint.
Identiq’s technology allows organizations to collaborate on fraud prevention without exposing customer data to a third party. The company spent nearly a decade and more than $50 million developing its patented privacy technology.
Integrated into Incode’s platform, Identiq’s technology is expected to add network fraud intelligence capabilities and reach billions of verifications annually.
Incode said the acquisition supports its belief that privacy and fraud prevention should be solved together rather than treated as competing priorities. The company’s privacy-focused architecture is based on AI-first identity verification, on-device processing, and collaboration without exposure.
Incode’s AI-powered verification, liveness, and document-matching capabilities are designed to automate identity verification while limiting human access to biometric and identity data. The company also offers facial age estimation and identity verification products designed to run biometric processing directly on a user’s own device.
With Identiq, institutions can detect repeat fraud patterns across a network without creating centralized data lakes or relying on data brokerage models. Incode said this minimizes the attack surface commonly associated with traditional fraud collaboration.
The acquisition comes as Incode reports a sharp increase in agentic fraud, or fraud attempts assisted by AI agents. The company said agentic fraud represented 3% of fraud attempts in 2024, increased to 40% in the first quarter of 2026, and could exceed 90% in the next 18 months.
Incode has processed more than 7 billion identity verifications. Its customers include eight of the top 10 U.S. banks, eight of the top nine U.S. telecom companies, three of the top three global neobanks, and four of the top five global marketplaces.
The company’s compliance program includes SOC 2 Type 2, ISO/IEC 27001, HIPAA Attestation of Compliance, FedRAMP Ready, Age Check Certification Scheme, and the Kantara IAL2 Component Services Trust Mark.
KEY QUOTES:
“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. Identiq is the piece that enhances our Privacy by Design architecture, the natural culmination of the decisions we made on day one.”
Ricardo Amper, Founder and CEO of Incode
“Every institution shared the same concern with us: how do we fight fraud together without giving up control of our customers’ data. 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.”
Itay Levy, Co-Founder and CEO of Identiq
