Incode invests in privacy-first architecture and acquires Identiq.

[Learn more](/content/press/incode-acquires-identiq/index.html)

# Secure every transaction with advanced fraud protection
AI-powered identity verification that stops sophisticated attacks while ensuring compliance and frictionless customer onboarding.

## Leading global companies choose Incode for identity verification

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## Financial institutions face a new era of fraud
Generative AI has created emergent threats that legacy security systems can’t contain.

###### **96.4% of financial services professionals consider deepfake and synthetic identity fraud to be a top-of-mind concern.**

### **Critical fraud challenges for the financial industry**

**AI-powered fraud at scale**
Criminals use generative AI to create convincing deepfakes and synthetic identities that bypass outdated identity verification.

**Complex compliance demands**
Evolving KYC/AML requirements across jurisdictions while managing new reimbursement mandates and data sharing regulations.

**Security versus growth trade-offs**
Financial institutions struggle between rigorous verification that frustrates customers and fast onboarding that opens security gaps.

## Core benefits for financial institutions
Incode empowers financial institutions across banking, fintech, loans and payments, crypto, insurance, and investment.

### Streamlined onboarding
**Accelerate customer onboarding with automated, frictionless verification processes.**
- Liveness Detection
- Facial Recognition
- Document Verification

### Regulatory compliance
**Manage evolving compliance requirements with dynamic workflows and government-sourced KYC/AML verification.**
- Customer due diligence (CDD) and enhanced due diligence (EDD) processes
- Global watchlist, sanctions, and PEP screening
- Compliance readiness across 190+ countries

### Advanced fraud detection
**Prevent unauthorized access and protect sensitive health data from AI-driven fraud attacks.**
- 99.4% OCR accuracy
- 99.6% accuracy in detecting digital spoofs
- 35+ AI models trained on the latest fraud attacks

### Reduced costs and enhanced trust
**Lower moderation and support overhead while strengthening advertiser and user confidence.**
- Risk-based verification with adaptive workflows
- Automated detection reduces manual review
- Privacy by design builds user trust

## Proven results that drive growth
Gain higher conversions, faster onboarding, and stronger fraud prevention in one seamless solution for financial services.
Up to 99% fraud reduction
Up to 40% higher conversion rates
Up to 5x faster onboarding

## Frequently Asked Questions
### Why do financial services companies need identity verification?
Financial institutions are legally required to verify customer identity under KYC/AML regulations including the Bank Secrecy Act, FinCEN CIP rules, and EU AML Directives. Non-compliance risks fines, license revocation, and reputational damage.

### How does AI identity verification speed up financial onboarding?
AI identity verification reduces onboarding from days to seconds — verifying documents and biometrics in a single automated flow, with no manual review queues. This directly improves conversion rates and reduces abandonment at account opening.

### What is Enhanced Due Diligence (EDD) in financial services?
EDD is a heightened KYC process applied to high-risk customers — such as Politically Exposed Persons (PEPs), customers from high-risk jurisdictions, or large transaction volumes. It requires deeper background checks, source of funds documentation, and closer ongoing monitoring.

### How does biometric verification reduce fraud in banking?
Biometric authentication at login, high-value transactions, and account recovery closes the gap that password-based systems leave open. It prevents account takeover, social engineering, and fraudulent transaction authorization.

### What compliance frameworks does Incode's financial services solution support?
Incode supports compliance with FinCEN, FATF, GDPR, CCPA, PSD2, and regional equivalents — with built-in audit trails, risk scoring, and case management designed for regulated financial environments.