Incode Extends its Privacy-By-Design Architecture with Identiq's Acquisition
June 25, 2026
June 25, 2026
n this article, citybiz reports on Incode's acquisition of Identiq, a privacy technology company whose cryptographic tools let organizations collaborate on fraud detection without sharing customers' personal information. Incode is folding the deal into its previously announced $100 million investment in privacy-preserving identity infrastructure. The funding will support R&D in privacy-enhancing technologies, more on-device processing, additional engineering resources, and broader global expansion.
Read the transcription of this article, published by citybiz on June 25, 2026.
As AI-powered fraud grows more sophisticated, organizations are facing increasing pressure to strengthen identity verification while limiting the collection and exposure of sensitive customer data. Against that backdrop, Incode Technologies has acquired privacy technology company Identiq, adding peer-to-peer cryptographic fraud detection capabilities to its identity platform as demand rises for security tools that protect both users and personal information.
The acquisition is part of Incode’s previously announced $100 million investment in expanding its privacy-preserving identity infrastructure. The company said the funding will support continued research and development in privacy-enhancing technologies, increased on-device processing capabilities, additional engineering resources, and broader global expansion.
Identiq specializes in cryptographic technology that enables organizations to collaborate on fraud detection without sharing customers’ personal information. By integrating those capabilities into its platform, Incode aims to allow financial institutions, marketplaces, telecommunications providers, and other enterprises to identify repeat fraud patterns across organizations without relying on centralized databases or exposing sensitive data to third parties.
“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,” Ricardo Amper, founder and CEO of Incode, said in a statement. He described the acquisition as a natural extension of the company’s long-standing privacy-by-design approach.
The acquisition builds on three architectural principles Incode says have guided its platform since its founding. The company has focused on AI-driven identity verification designed to minimize human access to biometric and identity data, while allowing organizations to add human oversight when needed. More recently, it introduced on-device biometric processing options that enable facial age estimation and identity verification to occur directly on users’ devices, helping customers address privacy and regulatory requirements without moving sensitive biometric data to centralized systems.
With Identiq’s technology, Incode adds a third layer by enabling fraud intelligence sharing across participating organizations without requiring customer data to leave each institution. The company said this approach reduces the attack surface typically associated with centralized fraud collaboration systems.
Identiq spent nearly a decade developing its patented privacy-enhancing technology, investing more than $50 million in the effort. Incode expects the technology to scale across its existing platform, which processes billions of identity verifications annually, adding network-wide fraud intelligence to its verification capabilities.
“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 organization that deals with massive amounts of user data.”
The acquisition comes as AI-assisted fraud becomes a larger operational challenge for enterprises. According to Incode, the company has processed more than 7 billion identity verifications globally. It reported that AI agent-assisted fraud represented about 3% of fraud attempts in 2024 but increased to 40% during the first quarter of 2026. The company projects that figure could exceed 90% over the next 18 months if current trends continue.
The broader cybersecurity environment also reflects growing pressure on organizations to protect customer information. Incode cited the Identity Theft Resource Center’s 2025 Annual Data Breach Report, which found that the United States recorded 3,322 data compromises during the year, representing a record high and a 79% increase over the previous five years. The report also noted that supply-chain breaches doubled during that period, highlighting the risks associated with third-party data sharing.
By combining AI-based identity verification with privacy-enhancing cryptographic collaboration, Incode is positioning its platform to address both fraud prevention and data protection requirements. The company argues that enabling organizations to exchange fraud intelligence without exposing customer information eliminates the need to choose between stronger security and stricter privacy controls.
Founded in San Francisco in 2015, Incode develops AI-powered identity verification, age assurance, and fraud prevention technology for enterprise customers. The company says its platform has completed more than 7 billion trust checks and maintains over 400 million identity profiles worldwide. Its customer base includes eight of the 10 largest U.S. banks, eight of the nine largest U.S. telecommunications providers, three of the world’s largest neobanks, and four of the five largest global online marketplaces. Incode also holds a range of compliance certifications, including SOC 2 Type 2, ISO/IEC 27001, HIPAA Attestation of Compliance, FedRAMP Ready, Age Check Certification Scheme certification, and the Kantara IAL2 Component Services Trust Mark.
Citybiz is a business news platform that publishes company news, interviews, and press releases across major U.S. metropolitan markets. This piece ran in its technology and mergers and acquisitions coverage.
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