Startup Incode gets $10M in seed funding and launches biometric omnichannel ID platform
A new player has joined the digital identity market, as Incode has announced the launch of its omnichannel biometric identity platform Incode Omni, and that it has raised $10 million in seed funding to fuel the growth and adoption of its platform globally.
Incode Omni provides customer account opening, identity authentication, and seamless payments across any channel, and is purpose-built to eliminate friction and incompatibility across consumer services, according to the announcement. The company says it is designed to scale for the financial services and hospitality industries, and marketplaces like ridesharing or on-demand work platforms.
“The modern consumer is all about experiences and convenience,” says Incode Founder and CEO Ricardo Amper. “What they want is a seamless, consistent and secure way to perform daily tasks like access their ATM, make payments, and access online accounts. Yet, what they get today is quite the opposite. The ecosystem is fragmented by multiple vendors and devices, making processes clunky and inefficient. That’s precisely why we’ve built Incode Omni: to help companies provide a frictionless, secure and convenient experience for the next generation of consumers.”
The platform includes Incode Welcome for onboarding through web or mobile apps, the Incode Greet kiosk onboarding solution, Incode Hello for customer log-in with user or company-stored biometrics, Incode Check for online purchases with facial recognition, and Incode Facepay for online payments and money transfers, as well as loyalty programs.
The ID validation models used by Incode, based on deep learning techniques, are unmatched in the industry, it says in the announcement, leaving no margin for fraud.
Incode has also received certification from iBeta for presentation attack detection (PAD) following NIST standards, and the company says its passive liveness technology is the only one on the market with the certification that does not require any user action.
The digital identity and document verification market is forecast by Goode Intelligence to reach $15 billion by 2024.