ID Verification company Incode Acquires AuthenticID to fight AI fraud
The idea here seems to be using AI to fight AI
Since man gave AI the power of 'creation', allowing it the ability to create or mimicking art and pictures and videos, the machines have gotten pretty good at it. Some might even say a bit too good.
While many have seen this as a way to express their creative side, many bad actors have used this to their advantage. In countries like Mexico for instance, cyber fraud losses topped MXN$20 billion in 2024, underscoring the urgency for stronger defenses.
Kelechi Edeh
That’s the backdrop for Incode’s latest move. The San Francisco–based provider of AI-driven identity and trust technologies has acquired U.S.-based AuthenticID, a company known for its expertise in high-volume, regulated environments.
Together, the two companies aim to create a global AI powerhouse built to combat the next generation of fraud, whether it’s deepfake-driven account openings or impersonation of autonomous AI agents now entering customer-facing roles.
For Latin America, where Incode already counts four of the region’s top five banks among its clients, the acquisition could reinforce the fight against identity fraud at a time when financial services, fintechs, and telcos are under constant attack. But the deal isn’t just about LatAm, Incode and AuthenticID together processed over 4.1 billion identity checks in 2024, working with major banks in the U.S., neobanks worldwide, and leaders across telecom, ecommerce, and social media.
Incode brings its AI knowledge to the mix, including neural networks and large visual language models capable of detecting fraud in real time. AuthenticID adds two decades of experience in verifying government-issued documents and delivering automated, enterprise-ready fraud detection. Combined, they’re betting on an AI-first approach to identity verification that can adapt as fast as fraudsters evolve.
Competitors like Jumio and Onfido are also investing heavily in AI-based verification, but Incode’s regional footprint and roots give it a unique position to scale globally while tailoring solutions to markets like Latin America, where the stakes are particularly high.
If the companies deliver on their promise, it could mean a future where logging in, signing up, or verifying your identity feels at least slightly safer. As time goes on, it'll be interesting to see more company follow in the safeguarding process rather than pushing for just the improvement of AI systems.
Louis Eriakha
