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.
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[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.