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In this article, Yahoo! Finance reports on Incode’s acquisition of MetaMap, aiming to expand Incode’s presence in Latin America and the Caribbean, broadening its market and the number of verified identities.
The union of Incode and MetaMap is expected to enhance digital identity security and trust, leveraging MetaMap’s innovations in mapping and its robust growth engine.
Read the transcription of this article, published by Yahoo! Finance on June 11, 2024.
This is Incode's New Acquisition for Identity Authentication
On June 11, 2024, Incode Technologies Inc announced the acquisition of MetaMap to lead the future of identity verification.
It should be noted that MetaMap is an identity verification company based in Silicon Valley.
With this new acquisition, the two companies aim to connect to create greater opportunities and face technological challenges in the field of identity.
“Integrating MetaMap’s innovative approach to mapping, its scalable growth engine, and its talent will strengthen our position as leaders in the global market. MetaMap perfectly complements our vision of providing reliable and effective identity verification solutions to a wide range of customers. We firmly believe that working together will further improve the security and trust in digital identity,”
What will the two companies Incode and MetaMap offer?
Incode mentioned that there are three main goals for the new acquisition with MetaMap.
- The first involves creating a smarter and wider trust network. This would take place in the context that hundreds of millions of identities have been created in the last year.
“The combined capabilities allow Incode to offer unmatched identity verification services, making digital interactions safer, more informed, and more reliable than ever,” highlighted the firm. - The second goal is to seek greater scale and efficiency in the business realm.
“Joining these two companies creates an opportunity to better serve our growing customer base with a more complete suite of identity tools. Combating the problem of financial exclusion is one of the great challenges of our time,” said Filip Victor, Founder of MetaMap. - And the third has to do with generating a strong commitment to innovation.
The combination of Incode’s and MetaMap’s capabilities will transform identity verification in the face of the great challenge posed by an era of generative AI-driven fraud.
Additionally, they aim to develop Incode’s identity protection technology, which strengthens with passive life testing that operates in real time, allowing the detection of fraud attempts with ‘deepfakes’.
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