Trust Stamp launch AI-powered software on the NayaOne Marketplace
Rhea-AI Summary
Trust Stamp has launched its proprietary AI-powered Identity HubTM on the NayaOne Tech Marketplace. The software offers advanced biometric authentication, robust identity verification, and synthetic identity fraud detection. Key features include liveness and presentation attack detection, anti-spoofing checks, and synthetic identity detection. The software also enhances data privacy by transforming sensitive personal data into anonymized identity tokens (IT2). This launch aims to help banks and financial institutions combat sophisticated fraud schemes and improve customer retention. Andrew Gowasack, President of Trust Stamp, emphasized the importance of evolving fraud prevention strategies, while NayaOne's Marketplace Manager, Varun Resh, highlighted the growing threats of phishing and social engineering.
Positive
- Launch of AI-powered Identity HubTM on NayaOne Tech Marketplace.
- Advanced biometric authentication with liveness and presentation attack detection.
- Robust identity verification and KYC with anti-spoofing and synthetic identity detection.
- Synthetic identity fraud detection using biometric velocity checks.
- Enhanced data privacy through anonymized identity tokens (IT2).
Negative
- None.
News Market Reaction – IDAI
On the day this news was published, IDAI gained 1.96%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Trust Stamp has launched on the NayaOne Tech Marketplace with AI-powered products to help banks and financial institutions combat fraud, retain customers, and reach a broader user base
ATLANTA, GA, June 18, 2024 (GLOBE NEWSWIRE) -- Trust Stamp announced that it has launched its proprietary Identity HubTM on the NayaOne Marketplace offering AI-powered software solutions that offer:
- Advanced Biometric Authentication with liveness and presentation attack detection to combat fraud and enhance security during customer onboarding, account access, and high-risk transactions protecting against identity theft and account takeovers.
- Robust Identity Verification and KYC including document validation with anti-spoofing checks and synthetic identity detection including identity deduplication.
- Synthetic Identity Fraud Detection via biometric velocity checks and identifying stolen or fabricated identities.
- Enhanced Data Privacy and Protection by irreversibly transforming sensitive personal data into secure, anonymised identity tokens (IT2) protecting privacy while maintaining data utility for identity verification purposes.
Varun Resh, Marketplace Manager of NayaOne, commented, “We’re excited to welcome Trust Stamp to the NayaOne Tech Marketplace. Banks and financial institutions are increasingly threatened by sophisticated fraud schemes, which exploit vulnerabilities through tactics like phishing, social engineering, and advanced digital forgery. These challenges require the evolution of fraud detection and prevention strategies, investment in cutting-edge technologies such as AI and biometric authentication, and the prioritization of robust compliance and data privacy measures.”
Andrew Gowasack, Trust Stamp’s President, commented, "As fraudsters become more adept at circumventing traditional security measures, prioritizing robust fraud prevention is crucial to protect customers, safeguard assets, and maintain trust in the banking system and banks must continuously evolve their fraud detection and prevention strategies by investing in cutting-edge technologies. NayaOne's platform provides financial institutions with the ability to build, test, and create unique solutions to the complex problems that they face and Trust Stamp’s technology is delivered through a set of microservices, which is ideally suited to the NayaOne platform and gives institutions flexibility in creating solutions. We are excited to be co-creating with NayaOne and we look forward to working with its customer base.”
Enquiries
Trust Stamp Email: Shareholders@truststamp.ai
Andrew Gowasack, President: agowasack@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.
FAQ
What new product did Trust Stamp launch on the NayaOne Marketplace?
How does Trust Stamp's new software help combat fraud for financial institutions?
What is the significance of anonymized identity tokens (IT2) in Trust Stamp's new product?
What are the key features of Trust Stamp's AI-powered Identity HubTM?
How does Trust Stamp's new software enhance security during customer onboarding?
