Incode recognized as a Representative Vendor in Gartner® Market Guide for Identity Verification

SAN FRANCISCO, Oct. 11, 2023 /PRNewswire/ -- Incode Technologies Inc., a leading provider of world-class identity verification and authentication solutions for global enterprises, today announced it has been named as a Sample Vendor in the Gartner Gartner's Market Guide for Identity Verification, 2023.^[1]

The global rise in identity fraud has been a major concern in the last few years, especially with so many important transactions now taking place online. According to the Federal Trade Commission, more identity theft reports were filed in 2022 than all other types of complaints. Traditional identity verification systems, such as the reliance on paper IDs, manual "human" oversight, or repetitive document uploads per authentication attempt, bring a host of issues, including inaccuracy, circumvention, and privacy risks. The digitized economy requires convenient, innovative identity solutions and a new identity framework built around trust, privacy, and data security to oppose would-be fraudsters.

In the report, Gartner notes that IDV provides "the assurance that a real-world identity exists and that the individual claiming the identity is its true owner and genuinely present during a remote interaction." The report goes on to outline key steps in the identity verification process, the direction of the market and recommendations for vendor selection. 

Of note, Incode believes the report highlights the need to future-proof vendor selection by considering that portable digital identity will shape the future, stating an optional capability worth assessing is the "provision of an identity wallet, which enables people to store verified identity attributes and control their presentation to a relying party." Incode is recognized as one of three vendors that offers this tool in their arsenal.

Gartner writes: "The existing approach of every organization performing identity verification on its users whenever required is inefficient, costly, and damaging to user experience. This will not scale as the number of digital interactions in our lives continually increases. Digital identity must be secure, simple and — ideally — portable. The identity verification market is entering a period of transition, as a broad and differing range of portable digital identity initiatives either mature, enter the market or undergo large-scale pilot programs."

Ricardo Amper, Incode's CEO and Founder, said, "People shouldn't have to share their personal addresses, use easily lost or stolen physical documents, or type passwords susceptible to cyber-attacks. Incode is transforming the way humans authenticate and verify their identities online. We believe this report validates the hard work and commitment of our team to provide our customers with a fully automated AI-powered platform that decreases fraud and increases user conversion rates with the highest privacy and safety standards."

Incode has been rapidly expanding its global business. By utilizing its fully in-house developed machine learning algorithms conformant to NIST 800-63-3 standards, Incode offers 30+ services including Identity Verification, Capture, Consent, Non-repudiation, Capture, Risk Control, Business Verification, Authentication, Identity Database, Platform, and Analytics for onboarding and authentication use cases across every major vertical.

With its growth potential widely recognized in the global market, Incode has realized record-breaking expansion of alliances and use cases, innovative product advancements, and industry accolades.

To learn more information, visit Incode's blog here.

Incode will also attend Money20/20 at Booth #3501, which takes place from October 23^rd to October 25^th in Las Vegas, Nevada.

^[1] Gartner, " Market Guide for Identity Verification", Akif Khan, Robertson Pimentel, Sean O'Neill, Swati Rakheja, September 7, 2023.

GARTNER is a registered trademark and service mark of Gartner and Hype Cycle are a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Incode
Incode Technologies is revolutionizing the trust industry by transforming Identity Verification and Authentication across every major vertical. Incode serves the Financial Services, Gaming, Hospitality, Government and Entertainment sectors with the most accurate, flexible, and easy-to-integrate proprietary technology. Incode's fully automated AI-powered platform solves Onboarding (KYC, KYB, Age Verification), Passwordless Authentication, and Payment Verification (AML) to reduce fraud and increase conversion rates with the highest privacy and safety standards.

With over $220 million raised from investors such as General Atlantic, Softbank, and JP Morgan, Incode's "One Identity Everywhere" vision is rapidly gaining global adoption. Based in San Francisco, with offices and operations worldwide, Incode is partnering with the most innovative brands to reimagine trust.
Join the identity revolution at www.incode.com.

Media Contact
Katherine Benfield
Lumina Communications for Incode
[email protected] 

SOURCE Incode