NEWS PROVIDED BYIncode Technologies
Jun 11, 2024, 08:03 ET
Companies join to advance identity verification and develop a smarter, larger trust network
SAN FRANCISCO, June 11, 2024 /PRNewswire/ — Incode Technologies Inc., the global leader in identity verification and trust solutions, today announced its acquisition of MetaMap, a Silicon Valley-headquartered identity verification company. This acquisition will create a powerhouse built to capture the emerging opportunities and tackle the evolving challenges in identity today and in the years ahead.
Ricardo Amper, founder and CEO, Incode, said: “Integrating MetaMap’s innovative approach to mapping, its scalable growth engine, and talent will strengthen our position as the leader in the global market. MetaMap perfectly complements our vision of providing reliable and effective identity verification solutions to a wide range of clients. We strongly believe that working together will further enhance security and trust in digital identity.”
Filip Victor, founder, MetaMap, said: “Joining these two companies together creates an opportunity to better serve our growing customer base with a more comprehensive suite of identity tools. Fighting the problem of financial exclusion is one of the great challenges of our time.”
As part of the transaction Filip is leaving the company to pursue other interests while COO Meghna Mann has been elevated to CEO of MetaMap.
Meghna Mann, CEO, MetaMap, said: “We have long admired Incode’s leadership in technology and their unparalleled customer centricity. By uniting our products and expertise, we will make borderless identity verification accessible to many more customers globally.”
As fraud continues to rise exponentially, companies need identity verification solutions that can scale and verify legitimate users quickly and seamlessly, even in the face of increasingly sophisticated AI-enabled fraud attempts. Incode’s AI-first identity orchestration platform has the lowest error rates in the industry and a seamless user experience that drives higher conversion and revenue for businesses.
MetaMap has developed an easy-to-implement platform that allows businesses to predict who they should serve and to what extent. It hosts a comprehensive catalog of data, spanning a wide range of user data types, which enables businesses to make better risk decisions.
The combined company will deliver:
- A smarter, larger trust network:Â The acquisition creates a powerful network that has seen hundreds of millions of identities in the past year. The combined capabilities allow Incode to deliver unparalleled identity verification services, making digital interactions safer, more informed, and more reliable.
- Enhanced scale and efficiency: Incode’s strength in the enterprise, combined with MetaMap’s expertise in the midmarket, will expand the company’s market share to thousands of customers across North America, Latin America and Africa.
- Strong commitment to innovation: Combining Incode and MetaMap’s capabilities will transform identity verification in an era of generative AI-fueled fraud. Incode’s personhood and injection protection technology can confirm liveness in real time to detect deepfake spoofs, complimenting MetaMap’s optimization approach that helps businesses continuously improve their performance with more data.
About Incode
Incode is the global leader in trust and identity. Incode’s fully automated end-to-end platform offers a highly secure and seamless AI-based experience that increases conversion and reduces fraud. With its mission to power a world of trust, Incode works with a number of the world’s largest banks, fintechs, hotels, governments, and markets. Incode is headquartered in San Francisco and has offices in Europe and Latin America. To learn more about Incode, visit www.incode.com.
SOURCE Incode Technologies