Trust Stamp Awarded Two Patents for Innovations in Identity Verification
ATLANTA, GA / ACCESSWIRE / September 8, 2021 / Trust Stamp (OTCQX:IDAID)(Euronext Growth:AIID), a global provider of AI-powered trust and identity services used across multiple sectors, is pleased to announce that the U.S. Patent and Trademark Office has awarded the Company two new patents, Patent No. US11095631 for "Systems and Methods for Identity Verification Via Third Party Accounts", and Patent No. US11093771 for "Systems and Methods for Liveness-Verified, Biometric-Based Encryption". Both patents strengthen the Company's competitive position in the identity verification and authentication space, now with four issued, and nine provisional and pending patents.
Trust Stamp CEO Gareth Genner comments: "We are committed to growing and strengthening our IP portfolio to address diverse global needs in digital service delivery and drive our new product offerings. Trust Stamp's substantial investment in research and development continues to differentiate our identity and trust verification solutions, offering our partners a competitive edge from robust organizational security and compliance systems that deliver a low-friction customer authentication experience across any level of risk appetite."
Systems and Methods for Identity Verification Via Third Party Accounts improves upon the multi-factor standard of authentication with greater protections against the risk of data exposure via intercepted credentials or user impersonation. The innovation combines biometric or other assurances of identity, device metadata, and binary knowledge of existing authorization to a third party system to establish the user's authenticity and grant account access. Unique from any other solution in the market, this technology complements Trust Stamp's range of user-focused digital identity services by adding two additional security factors in multi-factor authentication implementations.
Systems and Methods for Liveness-Verified, Biometric-Based Encryption leverages Trust Stamp's proven fraud-resistant biometric capture and analysis, tokenization, and comparison technologies that can function on a standard smartphone to transmit encryption and/or decryption instructions only when verification is passed, thereby protecting access to sensitive data and systems with a form of authentication that cannot be forged or contravened. Trust Stamp's advanced proof-of-liveness algorithms block biometric spoofing attempts with speed and accuracy, including the use of printed images, recorded video, and feature-altering face masks. When coupled with core technology that cryptographically obfuscates biometric information and leverages the irreversible output for secure authentication, Trust Stamp's proprietary approach to liveness-verified biometric security transforms personal privacy and data protection.
Genner continues: "These two additional patents compliment our data transformation approach to privacy, security, and trust, and when combined, enable us to offer ground-breaking authentication products at a fraction of the cost of legacy biometric solutions."
Trust Stamp is currently raising a public $5M round of funding to support their application to list on the Nasdaq Capital Market and accelerate their growth trajectory, in part through accelerated productization of their IP portfolio. Trust Stamp invites the public to learn more about the investment opportunity here: https://www.investintruststamp.ai
Enquiries
Trust Stamp Email: Shareholders@truststamp.ai
Gareth Genner, Chief Executive Officer
Nisha Naik, Executive VP of Communications
Davy (Euronext Growth Advisor) Tel: +353 1 679 6363
Barry Murphy
Powerscourt (Financial Public Relations) Tel: +353 87 236 5973
Eavan Gannon Email: Truststamp@powerscourt-group.com
About Trust Stamp
Trust Stamp is a global provider of AI-powered identity services for use in multiple sectors including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services. Its technology empowers organizations with advanced biometric identity solutions that reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader base of users worldwide through its unique data transformation and comparison capabilities.
Located in seven countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the OTCQX Best Market (OTCQX: IDAID*) and Euronext Growth in Dublin (Euronext Growth: AIID ID). Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 80 people with flagship customers including Mastercard International and FIS.
*A stock split was effected on August 23, 2021, at which time the post-split shares began trading on OTCQX under the trading symbol "IDAID". 20 business days, after this date, the Company's trading symbol will revert to "IDAI"
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The information in this press release may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management's current views with respect to future events based information currently available and are subject to risks and uncertainties that could cause the company's actual results to differ materially. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. All investors should read the offering memorandums provided in conjunction with these offerings. Investments in Regulation CF offerings are speculative, illiquid, and involve a high degree of risk, including the possible loss of your entire investment. Trust Stamp has filed Form C that forms the Regulation CF Offering Statement with the SEC, a copy of which may be obtained from https://www.investintruststamp.ai.
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SOURCE: T Stamp Inc
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