Trust Stamp Announces Notice of Allowance for New U.S. Patent Related to Identity Authentication Via the Control of Third-Party Accounts
Atlanta, May 31, 2023 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity Company™ providing AI-powered trust and identity services used globally across multiple sectors, announced that it has received a Notice of Allowance for an additional patent by the United States Patent and Trademark Office. This Notice of Allowance follows an previous patent allowance announced earlier this month.
The patent titled, “Systems and Methods for Identity Verification via Third-Party Account," uses a proprietary process to establish control of one or more third-party accounts as a primary or secondary identity authentication factor and is intended to complement Trust Stamp’s AI-generated Irreversibly Transformed Identity Token (IT2) technology.
Andrew Gowasack, Trust Stamp’s President, commented, “With fraudulent transactions increasing at an alarming rate, multi-factor authentication is critical for all types of digital transactions. Trust Stamp provides not only a biometric-based privacy-first solution with the IT2 and Biometric Multi-Factor Authentication process, but also a suite of non-biometric tools to complement the IT2. This patent addresses our ability to utilize evidence of the user’s control of third-party accounts, including social-media accounts, for identity authentication.”
“With the highly successful launch of or SaaS Orchestration Layer, we are able to provide a range of no-code and low-code solutions that can be implemented quickly, and at minimal cost, increasing the availability of both biometric and non-biometric solutions, and keeping our customers one step ahead of the fraudsters.”
Trust Stamp launched its Orchestration Layer in 2023 as an important step in its evolution from a custom-solutions provider to a SaaS solutions provider. The Orchestration Layer was initially offered to existing customers and via a channel partnership and has attracted twenty-nine enrollments, including twenty-five banks newly enrolled through the channel partnership. The platform is now being offered on a broader basis through a direct-sales team being recruited by the Company.
About Trust Stamp
Located in nine countries 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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