Privacy Challenges, Optimization in the ID Verification Market

Q: How is Incode's identity solutions contributing to the digital transformation of Mexican industries, including finance, retail and gaming?

A: Everyday transactions and interactions, whether with products or people, have shifted to the digital realm. As we move toward services and products that operate remotely, it becomes increasingly important to enhance digital identification to instill a sense of security for clients navigating various digital services. Incode is dedicated to fostering a world of trust because as trust grows within society, so does the well-being of its individuals. We have been strongly focused on creating a comprehensive ecosystem of trust where users can confidently engage with businesses in the digital sphere.

Q: What challenges do businesses face when adopting identity solutions and how does Incode address these challenges?

A: The foremost consideration in this industry is ensuring the security of clients' digital identities. At Incode, our technology is fortified with robust data privacy measures and adheres to regulatory frameworks. Despite being led by a Mexican entrepreneur, Incode was founded in Silicon Valley, which allowed us to incorporate many best practices regarding data privacy. For example, our technology was recently certified by the National Institute of Standards and Technology (NIST). Furthermore, we assist our clients in navigating regulatory requirements, ensuring they feel secure when integrating our technology to enhance their digital business operations. 

From the end-user perspective, our approach is consent-driven. We aim to empower individuals to choose which entities have control over their digital identity and the level of accessibility granted to them. Incode firmly believes that paper-based identification methods are often riskier than their digital counterparts, contrary to common belief. Often, paper-based IDs reveal an excessive amount of unnecessary data. For example, if you need to verify your age to access a gambling site, you should only need to provide that specific information.

Q: How does Incode's identity solutions contribute to risk mitigation, particularly concerning identity theft?

A: Identity theft is a significant concern and a challenge that exists globally but technologies like machine learning and AI have greatly reduced this risk. Nevertheless, Incode is confident that our technology and products will not only effectively mitigate this risk but will reduce it to nearly zero in the near future. By leveraging cutting-edge technologies like AI, Incode is poised to enhance the efficiency and security of digital identification processes. Additionally, we have established connections with trusted databases, such as the INE database, to verify the identities of our clients. These technologies and processes have significantly improved the way our clients conduct their business, ensuring a seamless and frictionless user experience while substantially reducing their exposure to fraud and potential identity theft.

Q: How have AI-powered tools impacted the ID verification landscape?

A: AI tools and technology have played a pivotal role in removing the human element from verification processes. Many digital ID verifications still involve human intervention, which increases the risk of human error. Incode's AI-powered technology enables the verification of an individual's identity anywhere in the world without relying on human interaction.

Q: What are the key features and benefits of Incode's new orchestration platform?

A: Incode’s orchestration platform combines top-tier technology with an exceptional user experience. It is designed to adapt to specific user flows and requirements. The platform's adaptability extends to accommodating the complexity of various industries or the regulatory demands of specific sectors. Whether it is a bank adapting to international regulations or a hospitality company streamlining client onboarding, Incode's platform remains flexible. Incode's orchestration platform is not only user-friendly but also user-adaptable, making it a truly innovative technology. Incode´s revolutionary approach is changing the IDV industry's rules and creating the world's best-integrated identity platform (IIP).  We have 50+ unique modules to elastically adapt to your unique end-to-end digital experience.

Q: What are Incode's plans for further expansion in Mexico?

A: Mexico has been a significant launchpad for Incode for many years. Despite being a US-based company, it has strong Mexican roots. For example, we recently partnered with the Mexican soccer league association, aiding them in the identification of problematic individuals within stadiums to mitigate violence. LigaMX has found our technology instrumental in solving this issue as we identify every spectator in the soccer stadium, significantly reducing violent incidents. Several Latin American countries have reached out to us for similar solutions to address violence. We are also exploring opportunities in the aviation industry to enhance the onboarding experience. Incode aims to become a more comprehensive partner in the onboarding processes of our clients, extending beyond ID verification.

Q: What challenges have arisen from collaborating with Mexican organizations, such as Banxico?

A: One significant challenge lies in aligning with specific regulations governing various technologies. At Incode, we adopt a constructive approach in engaging with authorities to ensure compliance with evolving regulatory and policy frameworks. We proactively adapt to changes in both regulatory flexibility and technological implementation. Our global presence has exposed us to a variety of initiatives and regulations, helping us stay ahead in ID verification processes. Mexico has made substantial progress in developing coherent and effective regulatory frameworks, enhancing its ability to foster innovation across various industries.

Q: How does Incode adapt to the diversity of sophisticated cyberattacks? 

A: As a US-based business, we adhere to stringent data and information management standards. We have been heavily influenced by the best practices employed in the US and security and privacy are deeply ingrained in our corporate culture. We maintain a sizable IT security division that continuously innovates and adapts to emerging security trends. We also work closely with certification authorities to enhance our cybersecurity measures and bolster cybersecurity resilience.

Q: What innovation efforts is Incode pursuing to remain at the forefront of identity solutions?

A: Incode is committed to constantly improving its core products. For example, our facial recognition AI models are achieving exceptional accuracy in determining user ages. Technically, we are expanding into new product areas like onboarding services and developing AI-driven alternatives that will be unveiled in the upcoming months.