What fraud challenges do financial institutions face?

Financial institutions face AI-powered fraud at scale with criminals using generative AI to create convincing deepfakes and synthetic identities, complex compliance demands with evolving KYC/AML requirements, and security versus growth trade-offs between rigorous verification and fast onboarding.

What are the core benefits for financial institutions?

Core benefits include streamlined onboarding with automated verification processes, regulatory compliance with dynamic workflows and government-sourced KYC/AML verification, advanced fraud detection with 99.4% OCR accuracy and 99.6% accuracy in detecting digital spoofs, and reduced costs with automated detection and privacy by design.

How does the identity verification process work?

The process involves four steps: ID capture where users submit government-issued ID, selfie capture where AI verifies liveness and matches the selfie to ID in milliseconds, real-time checks validating data against government sources and watchlists, and account access where legitimate users are approved instantly while fraud attempts are blocked.

What results can financial services expect?

Financial services can expect up to 99% fraud reduction, up to 40% higher conversion rates, and up to 5x faster onboarding.

GovFaceMatch

The first identity solution to match biometrics against DMV records

A new standard in identity verification. Higher conversion and stronger fraud prevention, with no tradeoff.

Request a demo

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faster verification vs document-based verification

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higher conversion vs document-based verification

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lower false acceptance rate vs document-based verification

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“Identity is the foundation of trust in nearly every transaction that matters, from opening a bank account to accessing healthcare. As the agency responsible for issuing that identity credential, we have a duty to help get it right. By working with Incode, we’re enabling private-sector partners to rely on the same trusted records we do, with clear consumer consent at every step. Georgia DDS is proud to be part of a partnership that strengthens the broader identity ecosystem.”

Angelique B. McClendon · Commissioner of the Georgia Department of Driver Services

The problem

Identity verification has always meant choosing between friction and fraud

Most solutions rely on either data or documents. Neither can deliver both high conversion and strong fraud prevention.

Impacts conversion

Catches more fraud, but adds friction that drives users away. Up to 40% never complete the process.

Weakens fraud prevention

Keeps users moving, but allows synthetic and stolen identities to pass undetected.

AI-driven attacks have made the tradeoff too costly to ignore

0%

of legitimate users drop off due to verification friction

Source: Incode customer data

0%

of synthetic identities go undetected during onboarding

Source: Thomson Reuters

$0B+

projected losses from synthetic identity fraud by 2030

Source: Deloitte

What we built

The only solution that delivers higher conversion without compromising identity assurance

Built in partnership with state DMVs, GovFaceMatch enables real-time biometric matching against official government records to confirm identity and stop AI-assisted fraud.

ID barcode scan + selfie

Users scan the back of their government ID and take a live selfie in two simple guided steps.

Verify against DMV records

The selfie is matched to the issuing DMV's official record within a secure environment.

Real-time result

A verification result is returned instantly, delivering a fast, defensible, and auditable outcome.

What you gain

What changes when identity is verified against DMV records

Direct verification at the source transforms conversion and fraud performance.

Lower user friction

Complete verification with a barcode scan and selfie. No document capture required.

Stronger protection

Verify the person, not just the data. Stops synthetic identities and AI-assisted fraud that bypass traditional checks.

Built-in privacy

Matching occurs within the DMV’s secure environment. No biometric data is stored and no government PII is shared.

How it fits together

Verify more users with government-backed assurance

GovFaceMatch is part of Incode's GovMatch suite of government-backed identity solutions, combining image-based and data-based verification against government records to deliver the highest assurance across every supported state.

Unified offering

GovMatch

Combines image-based and data-based verification layers to route transactions according to the issuing state.

Coverage expands automatically as new states go live, with no additional integration required.

ID barcode scan + selfie

Issuing state identified

GovFaceMatch

Document number First name Last name Birth date Issue date Expiration date

GovDataMatch

Document number First name Last name Birth date Issue date Expiration date

Real-time result

GovFaceMatch

Matches identity data and a live biometric against the government record and portrait at the issuing DMV.

Confirms the person, not just the identity.

ID barcode scan + selfie

DMV Environment

Incode Face Match Engine Models deployed within DMV infrastructure

DMV Image Database Images retrieved for biometric comparison upon data match

Real-time result

GovDataMatch

Verifies identity attributes against corresponding data from official DMV records.

Confirms the identity exists in the government source-of-truth.

ID capture + selfie

Verify against DMV records

Document number First name Last name Birth date Issue date Expiration date

Real-time result

Why Incode

The first and only identity platform to partner directly with state DMVs for real-time biometric verification

No other vendor can improve both conversion and fraud outcomes at the same time.

Direct integrations with state DMVs

Real-time verification at the source

Matching occurs within secure DMV systems

Deterministic confirmation from the issuing authority

FAQ

Frequently asked questions

The questions buyers ask most about GovFaceMatch, answered straight.

Still have questions? Talk to an expert

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From the blog

Featured reading

View all posts

Product · 6 min read

Introducing GovFaceMatch: A New Standard in Identity Verification

For the first time, organizations no longer choose between converting customers and stopping fraud. GovFaceMatch eliminates that tradeoff entirely.

Read the post

Announcement · 3 min read

Introducing the Risk AI Agent

An always-on analyst that triages cases, surfaces ring activity, and writes the SAR-ready summary. Generally available this quarter.

Read the post

Research · 6 min read

Deepfakes in 2026: what changed, and what fraud teams should test

A practical walk-through of the new deepfake threat surface, from voice cloning to passive liveness bypass, and the defenses that hold up.

Read the post

What's next

A new standard in identity verification

Stop losing customers to verification. Increase conversion without increasing fraud.

Request a demo Explore the platform

The first identity solution to match biometrics against DMV records

Identity verification has always meant choosing between friction and fraud

AI-driven attacks have made the tradeoff too costly to ignore

The only solution that delivers higher conversion without compromising identity assurance

ID barcode scan + selfie

Verify against DMV records

Real-time result

What changes when identity is verified against DMV records

Lower user friction

Stronger protection

Built-in privacy

Verify more users with government-backed assurance

GovMatch

GovFaceMatch

GovDataMatch

The first and only identity platform to partner directly with state DMVs for real-time biometric verification

Direct integrations with state DMVs

Real-time verification at the source

Matching occurs within secure DMV systems

Deterministic confirmation from the issuing authority

Frequently asked questions

Featured reading

Introducing GovFaceMatch: A New Standard in Identity Verification

Introducing the Risk AI Agent

Deepfakes in 2026: what changed, and what fraud teams should test

A new standard in identity verification

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