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authID Inc. reports developments in biometric identity verification and authentication for enterprise logins, transactions, onboarding, account recovery, and passwordless access. Its platform includes PrivacyKey, Identity Verification, Biometric Authentication, IDX for distributed workforces, and authID Mandate for Agentic AI governance, with product updates tied to privacy-preserving biometrics, quantum-resistant authentication, digital identity credentials, and fraud prevention.
Company updates also cover financial results, corporate updates, strategic reseller and OEM partnerships, integrations with Microsoft-oriented identity environments, workforce and customer access use cases, and applications in financial crime intelligence. Recurring announcements connect authID's biometric root-of-trust approach with account-takeover prevention, deepfake detection, Zero Trust security architectures, and enterprise identity assurance.
authID.ai (Nasdaq: AUID) will report its financial results for Q3 FY2021 on November 8, after market close. A conference call will follow at 5:00 p.m. EST, featuring insights from CEO Tom Thimot and other executives. The call will cover financial results and a corporate update, including market and product launch discussions. Investors can access the webcast and presentation through authID.ai's investor relations page. The company specializes in biometric identity authentication, aiming to enhance security and trust through its innovative technology.
authID.ai (Nasdaq: AUID) has partnered with Hamilton Reserve Bank (HRB) to enhance its digital banking services using authID.ai’s identity verification solutions. The HRB will implement Verified™, a biometric multi-factor authentication system, to improve security and customer onboarding processes while eliminating passwords. This collaboration supports HRB’s goal to onboard one million new customers in the next year and ensures compliance with AML/KYC regulations. The integration aims to streamline operations and enhance customer experiences across over 150 countries.
authID.ai has launched its biometric authentication service, Verified™, to replace vulnerable one-time SMS passcodes, enhancing security for businesses. Available for a free 14-day trial, the service offers mobile facial biometric authentication, surpassing traditional methods like passwords. Companies can test APIs in a sandbox for free to ensure easy integration. This innovative solution aims to diminish account fraud while improving user experience. The launch was made on October 25, 2021, at Money20/20 in Las Vegas.
authID.ai (Nasdaq: AUID) has appointed Steven J. Fazio as Senior Vice President of Sales, reporting to CEO Tom Thimot. Fazio, with 25 years of experience in security and infrastructure, aims to drive the company’s expansion into key markets such as banking and healthcare. His previous clients include major companies like American Express and MLB. Fazio's compensation includes a grant of options for 210,000 shares at $11.75 each. The move is expected to enhance authID's biometric identity authentication solutions, potentially increasing revenue streams.
On August 26, 2021, authID.ai (Nasdaq: AUID) announced the closing of a public offering of 1,642,856 shares of common stock at $7.00 per share, raising approximately $11.5 million. This included 214,285 shares sold from the underwriter's option. The company plans to utilize the proceeds for software development, business expansion, and general corporate purposes. The common shares began trading on August 24, 2021. ThinkEquity served as the sole book-running manager for this offering.
On August 25, 2021, authID.ai (Nasdaq:AUID) announced a partnership with CU NextGen to enhance identity verification for over 40 U.S. credit unions. This collaboration integrates authID’s Identity as a Service (IDaaS) platform, introducing biometric identity authentication solutions. CU NextGen aims to mitigate identity fraud and improve member experiences through services like Proof™, which enables seamless identity verification for in-person and online transactions. The rollout will start with one credit union, expanding to others in the U.S.