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Trust Stamp announces the launch of a new banking-focused product utilizing its AI-Powered Identity Authentication

Written by Customer Service on . Posted in Public Companies.

Trust Stamp announces a new AI-Powered transaction authorization service for banking and other high value and high risk transactions

Atlanta, GA, March 07, 2024 (GLOBE NEWSWIRE) — Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity CompanyTM announced the launch of Trusted Authentication™, a transaction authorization service providing identity authentication for high-value financial transactions initiated online.

Gareth N. Genner, Trust Stamp’s President commented, “The recent increase in deep-fake attacks has exposed fundamental weaknesses in many legacy systems, requiring additional assurance for high value and high risk transactions such as wire transfers. Trusted Authentication ensures the identity and live-presence of an authorizing party and can be integrated into or used in parallel to existing approval systems. The service will launch with a pilot bank partner [1] early in Q2 of 2024 and roll out for general usage before the end of the quarter.” 


Enquiries:

Trust Stamp                                                   Email: shareholders@truststamp.ai

Gareth Genner: ggenner@truststamp.ai

About Trust Stamp

Trust Stamp the Privacy-First Identity CompanyTM, 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 across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market (Nasdaq: IDAI). The company was founded in 2016 by Gareth Genner and Andrew Gowasack.

Safe Harbor Statement: Caution Concerning Forward-Looking Remarks 

All statements in this release that are not based on historical fact are “forward-looking statements” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement 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 from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

[1] First Community Bank and Trust has committed that they will pilot it and Legends Bank has also indicated that they will launch it in Q1 of 2025.

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