Incode Technologies has announced its acquisition of Identiq, a company specialising in privacy-enhancing cryptographic solutions.
This move is part of a $100 million investment aimed at enhancing Incode's privacy-first architecture for identity verification and fraud prevention.
The investment will focus on improving on-device processing capabilities, continuing research and development in privacy-enhancing technologies, and expanding global engineering resources.
Introduction to Identiq
Ricardo Amper, Founder and CEO of Incode, remarked on the acquisition, stating, "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."
This acquisition is seen as an essential step in strengthening Incode’s Privacy by Design strategy.
Core principles of Incode's privacy commitment
Identiq enables collaborative fraud detection without exposing customer dataIncode has established three foundational principles for its privacy commitment. These include AI-based identity verification, which limits human access to biometric and identity data while automating verification processes. Another key aspect is on-device processing, allowing biometric data to remain on the user’s device, thereby enhancing security and compliance without compromising accuracy.
Additionally, through Identiq's solutions, institutions can collaborate to detect fraud patterns without exposing customer data, thereby minimising the attack surface traditionally associated with data sharing.
Privacy-enhancing technology integration
Identiq's privacy-enhancing technology supports the secure sharing of fraud signals without exposing sensitive data to third parties, aligning with Incode’s focus on balancing identity security and data privacy. The integration of Identiq strengthens Incode's vision of a secure identity ecosystem where trust can be universally recognised.
Identiq's decade-long development and over $50 million investment into patented privacy solutions are expected to significantly enhance Incode’s system, projecting billions of annual verifications.
Fighting fraud with structural privacy
Itay Levy, Co-Founder and CEO of Identiq, noted the common concern of maintaining data control while combating fraud, stating, "Identiq built the answer to that very question. As part of Incode, that answer is now available to every organisation that deals with massive amounts of user data."
Given the rise of agentic fraud, which constituted 40% of fraud attempts in early 2026, Incode’s privacy-first strategy is increasingly crucial. This approach addresses the inadequacies of traditional data-sharing methods, enabling institutions to combat threats effectively without compromising data integrity.
Global compliance and enterprise-grade safeguards
Incode’s commitment to privacy is supported by a comprehensive global compliance programme. Certifications and attestations such as SOC 2 Type 2, ISO/IEC 27001, and others underscore its dedication to safeguarding data across its lifecycle.
Enterprise-grade measures, including data loss prevention and continuous monitoring, further protect user information, maintaining trust with stakeholders in the security sector.
Incode Technologies, a foremost leader in AI-powered identity verification and fraud prevention, announced that it has completed the acquisition of Identiq, a company specialising 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.
Introducing Identiq
“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
Incode’s privacy commitment rests on three architectural decisions made at the company’s inception:
- 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.
- 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.
- 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 minimised by design.
Proprietary privacy-enhancing technology
Identiq’s proprietary privacy-enhancing technology demonstrated that organisations 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 recognised 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.
Answer to all questions
“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 organisation 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.
