Bitso Partners with Incode to Secure Digital Finance Across LATAM

Bitso and Incode Partnership

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‍Bitso, the leading digital financial services company in Latin America, has chosen Incode, the global leader specializing in digital trust and identity, as its strategic identity infrastructure partner across all of its products and markets in the region. The announcement comes amid an environment in which the growth of virtual financial services demands verification processes that are increasingly secure, scalable, and agile.
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This partnership will verify the identity of users in Mexico, Argentina, Colombia, and Brazil using the most advanced technology within the Latin American fintech ecosystem.

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"Digital financial institutions face the challenge of delivering seamless experiences without compromising security. Our partnership with Bitso shows that it is now possible to scale operations at a regional level without sacrificing the highest standards of identity, compliance, and trust," said Ricardo Amper, Founder & CEO of Incode.

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Financial platforms face a new generation of AI-driven threats, such as synthetic identities, deepfakes capable of defeating traditional authentication mechanisms, and injection attacks orchestrated by complex robotic systems.

Added to this list is an even more imminent threat: autonomous AI agents, capable of carrying out fraud on their own, navigating onboarding flows, and operating at a scale and speed that human fraud could never reach.

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In this context, a platform's ability to distinguish between legitimate users and malicious actors is both a competitive advantage and a regulatory requirement.

For Bitso, the partnership strengthens its KYC (Know Your Customer) processes and maintains a seamless onboarding experience for millions of current and future users across Latin America, while responding to the growing regulatory and security demands of the digital financial ecosystem.

"Digital identity is fundamental to delivering a secure and trustworthy financial experience. With Incode, we are strengthening our verification processes across the entire region, while maintaining high standards of protection and compliance for our users," said Alma Cervantes, Strategic Partnerships Manager at Bitso.

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Currently, Incode processes more than 7 billion identity validations annually for financial institutions, digital platforms, and highly regulated entities worldwide, and it has identified a significant acceleration in AI-powered fraud.

According to Incode data, automated attacks accounted for 3% of detected fraud attempts in 2024, but reached 40% in the most recent quarter. Given this trend, the company estimates that these types of strategies could account for up to 90% of attacks within the next 18 months.

Incode's technology makes it possible to verify identities in seconds through advanced biometrics, AI-powered fraud detection, and certified liveness mechanisms for the world's leading financial institutions, neobanks, payment platforms, and technology organizations, addressing AI fraud head-on.

With this partnership, both companies reinforce their commitment to building a more accessible and trustworthy financial infrastructure for the region, where digital identity is already a key element in enabling the expansion of the digital economy.

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About Incode

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‍Incode is a global leader in identity verification, with more than 10 years of experience in artificial intelligence. Through the development of proprietary technology, Incode enables companies to securely distinguish legitimate users from fraudsters. Incode empowers companies to scale globally. It secures and automates identity verification processes, drives conversion through a superior user experience, and ensures regulatory compliance with global and local regulations.

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About Bitso

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‍Bitso is the leading digital financial services group in Latin America, serving more than 10 million users and over 1,900 institutional clients through a regulated financial infrastructure designed for the digital economy.Through its ecosystem of specialized companies, including Nvío, Nvierte, and Juno, Bitso gives consumers access to digital assets, stocks, and investment products, while enabling businesses and financial institutions to process local and cross-border payments at scale.Founded in 2014, Bitso operates in Mexico, Brazil, Argentina, Colombia, Chile, Peru, the United States, and Europe.

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