Imagine arriving at the airport to go on vacation or on a business trip, without a passport, credit cards or any physical ID, and still be able to fly, rent a car and check in at the hotel.
This is the vision of next-generation identity verification solution provider Incode Technology, which uses artificial intelligence to transform the way we travel, bank, shop and live every day, in Europe and beyond.
“Identity is one of the most primitive industries there is,” says Ricardo Amper, Founder and CEO of Incode. “Your money, your will, your medical records depend on a piece of paper or plastic, invented by the Egyptians 3,000 years ago.
We can apply AI, computer vision and facial recognition to create a fully automated digital identity that is much more reliable than a piece of paper. We believe identity verification needs to be reinvented. »
This reinvention is entirely due to the Incode Omni platform, which uses passive liveness technology, state-of-the-art facial recognition and advanced didactic techniques to revolutionize the way human beings verify their identity and engage with the largest international companies.
Today, Incode Omni is deployed in financial institutions, governments, marketplaces, hotels and hospitals around the world, transforming customer interactions into seamless, touchless user experiences.
In just seven years, the San Francisco-based company has partnered with some of the world’s largest markets, governments, hotels, banks and fintechs, including Jumeirah Group, Citi and Rappi, through products focused on customer integration and authentication, as well as payment verification.
With 80% of Europeans using smartphones (this figure is expected to reach 85% by 2025, according to Statista), Incode not only facilitates smart transactions, but also induces important societal changes.
Incode: Privacy-Driven User Experiences
Because our most valuable information and assets are held by companies, every transaction must use the right technology to ensure the security and privacy of consumer data in today’s marketplace.
Incode combines AI and Machine Learning to create a secure and privacy-friendly identity verification process, eliminating the need for documentation.
By adopting biometric data as the main means of verification, authentication is simplified; while maintaining the high level of security that users and organizations demand.
To date, Incode has helped prevent up to 99% of fraud attempts, using advanced risk measurement techniques, such as ID document liveness detection, facial biometric recognition and non- data consistency.
“Consent is required on every platform and users have full control,” Amper says. “They decide how to exploit it for maximum simplicity and security. »
Eliminate friction, from start to finish
Banks, credit unions, brokers, and other financial institutions must all observe strict “know your customer” (KYC) rules when processing integration requests; a generally long and complicated process, at least until now.
Now, Incode meets all the necessary criteria, in accordance with government regulations, to quickly welcome customers and significantly reduce the risk of fraud.
Incode allows financial institutions to capture customer data from their ID, verify identity documents, authenticate facial biometrics and identify any potential risk, efficiently and up to 5 times more faster than traditional onboarding processes.
“Instead of going to the bank and going through a long process to prove who you are, this experience will now only last 30 seconds,” says Amper. “Onboarding is a one-time only, you authenticate with a selfie and give your consent, and you can open a bank account in 30 seconds.
Every economic activity, whether making payments or opening a bank account, relies on identity. If the identity is weak, the rest of the economic activity is weak.
By creating this fully AI-based digital identity, we can create greater trust. And this confidence allows many economic progress. »
To date, Incode has increased conversion rates by 40% and reduced sign-up abandonments by 20%.
More than anything, this simple, fast and secure AI-powered platform eliminates friction in the financial sector and many other industries where speed and transparency are essential.
Transforming the travel and hospitality industry
Whether it’s checking in with a selfie, being personally greeted by a biometrics reader robot, or letting your digital alter ego settle the bill, traveling is infinitely easier with Incode.
Before they even arrive on the premises, Incode’s fully automated identity verification solution validates guest identities, for a personalized experience from digital keys to room service.
In this post-pandemic period, the hospitality industry is realizing the positive impact of technology on the guest experience, and the potential it offers to build customer loyalty and generate additional revenue.
With 76% of hoteliers wanting to offer a contactless experience by 2025, according to social research agency Blackbox Research, Incode is taking a giant step in the right direction.
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