Incode Pulls In $10M Seed Financing

Incode today introduced "Incode Omni," the industry's first omnichannel biometric identity platform. Incode Omni provides next-generation consumers with a wide range of services including the ability to open accounts, authenticate identity, and make payments seamlessly across any channel. The solution is purpose-built to eliminate the friction and incompatibility across many consumer services today. It is designed to scale for a number of industries including financial services, hospitality and marketplaces – e.g., ridesharing solutions, on-demand work platforms, etc.

The company is also announcing it has secured a $10M seed round to fuel the growth and adoption of the platform globally.

"The modern consumer is all about experiences and convenience," said Ricardo Amper, Founder & CEO, Incode. "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."

Incode Omni is recognized by NIST as one of the best enterprise edge facial recognition technologies, and is highly differentiated from the traditional biometric companies. The platform brings together the latest in LiveBeam liveness (passive anti-spoofing software), machine learning and computational photography to provide the most accurate, convenient and secure consumer experience possible.

Incode Omni is modular, offering sets of SDKs that can be combined to build products and is compatible with all architectures (cloud based, or on premises) operating systems and devices – including mobile web browsers, and Apple iOS and Android applications.

To significantly speed time to market, Incode also offers pre-built products so organizations can quickly integrate the platform with their existing systems. These address the following consumer use cases:

Onboarding
Incode Welcome onboards users seamlessly via mobile web, iOS or Android applications. For example, users can apply for a credit card or bank account with their face, ID card and an optional video conferencing session through a mobile web session, or natively on an iOS or Android device.

Incode Greet is an interactive kiosk solution that enables organizations to onboard customers and personalize their experience. It uses Facial-Recognition, Liveness detection and ID validation technologies, all brought together to ensure convenience – both for the organization and their customers – in a user-friendly and powerful kiosk.

Authentication
Incode Hello allows users to log into web, Android and iOS apps with their face. With Hello, businesses can own or access user biometrics to allow their clients to meet strong authentication requirements and enable multiple use cases like access to mobile apps, ATMs, and real-time recognition at bank branches.

Transactions
Incode Check allows a customer to verify online purchases and transactions with just their face. This significantly reduces valid transactions that would have otherwise been flagged as suspicious or fraudulent.

Incode Facepay allows users to make payments using their face and send money to friends with a single photo, as well as enroll and use loyalty programs. It helps companies facilitate onboarding and the use of loyalty programs in order to generate and retain users.

Amper adds, "Convenience is a major piece of the puzzle, security is another. According to a recent report by McKinsey, nearly one billion people globally lack any legally recognized identification, and 6.6 billion people have some form of identification, but more than 50 percent fail to use it securely and efficiently. Our mission behind Incode Omni is to set global standards of digital identity. We're starting with financial services, hospitality and marketplaces, but this is just the beginning."

Incode Omni was built from the ground up with maximum security in mind. Recognized as one of the most secure identity solutions on the market today, Incode applies facial recognition technology to measure the unique characteristics of a person's face, which can't be altered or compromised as simply as a password.

The company's ID validation models are unmatched in the industry and leave zero margin for fraud. Incode applies advanced deep learning techniques to validate IDs including fake checks, tamper checks and liveness checks to detect potential threats.

Additionally, Incode's passive liveness, which doesn't require any action from the user, will prevent spoofing, while enhancing the user experience. Incode is one of two companies in the world to receive the iBeta PAD liveness certification following NIST standards, and has the only passive liveness technology in the market that doesn't require any action from the user.

ABOUT INCODE
Incode is a provider of secure biometric products for banking, payment and retail industries. The company's flagship suite, Incode Omni, is an end-to-end omnichannel identity platform that enables seamless access across multiple channels to reach and engage the next-generation consumer.

Recognized as the leader in enterprise-grade facial recognition technology by the US Government (NIST), Incode Omni is already used by some of the world's largest banks, financial institutions, governments and retailers. Incode is based in San Francisco with offices in Europe and Latin America.