Incode Technologies, a global leader in AI-powered identity verification, has announced the acquisition of Identiq, a company specializing in privacy-enhancing cryptographic solutions. The transaction is backed by a $100 million commitment from Incode to expand its original privacy-preserving identity infrastructure. The capital will be utilized to accelerate on-device biometric processing capabilities, advance research into privacy-enhancing technologies, and expand its global engineering footprint.
The acquisition addresses a critical surge in “agentic fraud” fraudulent verification attempts orchestrated by autonomous AI agents. Incode process data has also revealed that agentic fraud has increased from 3% of total fraud attacks in 2024 to a whopping 40% in the first quarter of 2026 and with expectations surpassing 90% in the next 18 months. Through the use of Identiq’s revolutionary patented peer-to-peer cryptography, Incode enables the companies to exchange threat information in real time and cross-validate fraud patterns on an encrypted network without sharing sensitive customer data, forming centralized data lakes, or dealing with third-party data brokers.
Also Read: Hitachi Partners with OpenAI to Accelerate Enterprise AI Modernization and Cybersecurity
Highlighting the fundamental alignment between user anonymity and digital defense, Ricardo Amper, Founder and CEO of Incode, stated: “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.”
Underscoring how cryptographic networks enable secure B2B security collaboration at an industrial scale, Itay Levy, Co-Founder and CEO of Identiq, concluded: “Every institution shared the same concern with us: how do we fight fraud together without giving up control of our customers’ data. 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.”