Incode recently entered a partnership with fraud and compliance service provider, Sardine, according to a press release.
"We look forward to working with a partner that shares our same ethos in fighting fraud," Sardine CEO and co-founder, Soups Ranjan said. "Our partnership with Incode will better equip our customers to reduce friction while managing the complicated regulatory landscape."
Under the terms of the agreement, the two companies will work in collaboration to address global risks, including identity verification to payments fraud.
According to this year’s Federal Trade Commission report, 2.8 million consumers have experienced fraud, suggesting a 70% increase since last year’s figures, and $6 billion in losses.
Both parties have committed to using biometric authentication to prevent fraudulent activities for its customers and promote a safe way to navigate through account opening, funding and payments.
"In the fight against fraud, this partnership will benefit all users and help companies manage compliance regulations more effectively,” Ricardo Amper, CEO and founder of Incode, said.