Imagine arriving at the airport for a vacation or business trip without your passport, credit cards, or physical identification, and yet being able to board a plane, rent a car, and check into a hotel.
This is the vision of next-generation identity solutions provider Incode Technology, which uses artificial intelligence to transform the way we travel, bank, shop and live across Europe and beyond.
“Identity is one of the most primitive industries out there,” says Incode founder and CEO Ricardo Amper. “Your money, your will, your health information… Everything depends on a physical piece of paper or plastic and was invented by the Egyptians 3,000 years ago.”
“We can apply artificial intelligence, computer vision and facial recognition to create a fully automated digital identity that can generate much more trust than a piece of paper. We think that identity needs to be reinvented.”
The reinvention in question is due to the Incode Omni platform, which uses passive life technology, expert facial recognition and advanced deep learning techniques to revolutionize the way humans verify their identity and interact with the world’s largest companies.
Today, Incode Omni is thriving in financial institutions, governments, marketplaces, hotels, and hospitals around the world, transforming their customer interactions into seamless, touchless user experiences.
In just seven years, the San Francisco-based company has established partnerships with some of the world’s largest markets, governments, hotels, fintech companies and banks, including Jumeirah Group, Citi and Rappi, with products focused on payment integration, authentication and verification.
And now, with 80% of Europeans using smartphones and this number projected to rise to 85% by 2025 according to Statista, Incode is not only going to drive smart transactions, but also massive social change.
Incode: Providing Privacy-Centric User Experiences
Since businesses hold our most valuable information and resources, every transaction in today’s marketplace must use the right technology to ensure that consumer data is protected and private.
Incode uses the combination of AI and machine learning technology to create an identity verification process that ensures privacy and security, as well as eliminating the need for documentation.
By using biometrics as the primary means of verification, authentication is simplified while maintaining the high levels of security that organizations and individuals have come to expect.
To date, Incode has reduced fraud attempts by up to 99% through the use of advanced risk measurement techniques such as ID card activity detection, biometric facial profiling and data mismatches.
“Full consent is given on all platforms and users have complete control,” says Amper. It is up to each person to decide how to use it for maximum security and ease.
Eliminating friction from start to finish
Every bank, credit union, stockbroker, or other financial institution must adhere to strict know-your-customer (KYC) rules when integrating apps, which has traditionally been a long and complicated process… Until now.
Today, Incode meets all the necessary criteria, meeting government regulations to quickly enroll customers, while significantly reducing the risk of fraud.
Incode enables financial institutions to effectively collect customer data from their identification, verify their identification documents, authenticate facial biometrics, and identify any potential security risks up to 5 times faster than traditional onboarding processes.
“Instead of going to the bank and going through a long process to prove who you are, it will be a 30-second experience,” says Amper. «You go through the registration process only once, authenticate with a selfie and give your consent; you will be able to open a bank account in 30 seconds.”
“With all economic activity, whether it’s payments or opening a bank account, it starts with identity, so if identity is weak, the rest of the economic activity is too.”
“Creating a digital identity based on AI allows us to develop much more trust. With such confidence, there is much more economic progress.”
So far, Incode has achieved a 40% increase in conversion rates and a 20% improvement in signup abandonment.
Above all, the simple and secure AI-based platform removes friction in the financial sector and many other industries where a fast and seamless experience is paramount.
Changing the face of hospitality and travel
Whether you check in with a selfie, be greeted by a biometric scanning robot, or let your digital self pay the bill, traveling is so much easier with Incode.
Even before arriving at the property, Incode’s fully automated identity solution verifies a guest’s identity, enabling a personalized experience from digital keys to room service.
In this post-pandemic era, the hotel industry is realizing the positive impact of technology on the guest experience and the potential it has to increase customer loyalty and provide additional revenue.
And with 76% of hotel managers looking to implement a contactless experience by 2025, according to social research agency Blackbox Research, Incode is a big step in the right direction.