Cheltenham, United Kingdom, Oct. 07, 2020 (GLOBE NEWSWIRE) -- T Stamp Inc. trading as Trust Stamp, an AI-powered authentication company dual headquartered in Atlanta (US) and Cheltenham (UK), announces a partnership with OneBanks, the future of banking.

A FinTech platform that extends the accessibility of traditional banking tools, OneBanks is launching bank-agnostic kiosks to locations where physical branches are out of reach. Trust Stamp and OneBanks form this relationship with the common goal of supporting banks and their customers through broadening access to secure, trusted financial services, and accelerating financial inclusion.

Trust Stamp provides biometric identity solutions that reduce fraud, improve user experience and promote universal access to financial opportunity through enhanced accessibility. Their core technology preserves data privacy and security, while also providing a robust solution for identification in low-infrastructure, digitally and economically excluded communities. While Trust Stamp works to bring digital identity tools to low-connectivity environments to enable financial access in remote areas across the globe, the company also recognises the need for deliberately inclusive financial systems that reach vulnerable populations in the developed world.

As individuals and businesses struggle to continue accessing bank branch services during a time of widespread closures, OneBanks works to address accessibility by providing an organisation-agnostic platform that facilitates everyday banking services across all banks, at locations within reach. The OneBanks system typifies open banking in a physical space, transforming financial accessibility by drawing together existing, trusted banking systems with advanced digital tools in a way that exemplifies human-first banking.

While the move towards a cashless economy is nothing new, COVID-19 has led to a reluctance to accept cash, widespread brick and mortar banking location closings, and an increasing reliance on digital transactions, all of which place a financial burden on already vulnerable populations suffering under economic, health and social uncertainties. In combination with an accelerated digital transformation, the present-day paradigm of financial exchange risks leaving those that may not be equipped to leverage digital banking tools behind.

OneBanks CEO, Duncan Cockburn, comments, “If there’s one thing we’ve learnt in 2020 – it’s that we need people.  And we plan to do something really radical – by using new, advanced technology, we’re bringing banking back to people.”

He continued, “Security and privacy protection were front of mind when we were developing our solution, but we knew we needed to combine that with a great customer experience. Trust Stamp have been able to provide us with that through their privacy protecting identity token. We’re delighted to be working with them as we launch our service in the UK”.

Trust Stamp Chief Commercial Officer, Emma Lindley, comments, “To successfully drive a digital-first future that fosters equitable financial access, FinTech companies and traditional banks need to work together to address the needs of all existing and potential users, regardless of their individual footholds in the evolving digital transformation. Advanced banking tools that prioritise trust, security and privacy depend on accessibility to create a lasting impact in the future of finance.

With core strengths in regulatory compliance and fraud-prevention, Trust Stamp is now integrating their privacy-preserving facial biometric technology into OneBanks’s customer authentication systems to provide a secure, low-friction banking experience. OneBanks’s innovative platform uses custom APIs to assess customer risk upfront by integrating with each bank’s own transactional risk tolerance systems.

In drawing together financial innovations with a multi-faceted approach to a digitally inclusive future, Trust Stamp and OneBanks work to ensure that the unseen victims of a low-cash society have access to secure, trusted financial services.

About Trust Stamp https://truststamp.ai/
Trust Stamp is an artificial intelligence company focused on providing identity solutions at the intersection of biometrics, privacy, and cybersecurity. The company applies advanced cryptographic techniques, deep neural networks and proprietary AI powered tools to biometric and other identity data to create an Irreversibly Transformed Identity Token (IT2) that can be matched, deduplicated and verified while protecting sensitive identity information. Trust Stamp is currently participating in the DIFC Fintech Hive programme, LORCA Cyber Accelerator, and FIS Fintech Accelerator and is a graduate of multiple global programs including QCFintech, 630 Cybersecurity, Plug and Play (Silicon Valley and UAE), NAR REach, Mastercard Startpath, the Georgia Advanced Technology Development Center, the OnRamp Insurance Accelerator, the UK’s GCHQ/NCSC incubator and the Netherlands based Blue Tulip Awards program (first place winner in the finance category).

About OneBanks https://onebanks.co.uk/
OneBanks is a radical new concept in retail banking. Founder & CEO Duncan Cockburn is set to launch a unique business model tapping the latest technology and open banking to provide key banking services through community-based kiosks. The aim is to provide financial inclusion for everyone. The fully manned, bank agnostic platform will facilitate everyday banking services and preserve human interaction.

OneBanks has recently announced a global partnership with Nuapay.  It is in discussion to open in Denny, Falkirk by the end of 2020 as part of The Community Access to Cash Pilot (CACP) initiative.

CONTACT: Trust Stamp Media Contact:
Nisha Naik, Marketing Director 
nnaik@truststamp.ai

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