Trust Stamp Announces a Thirty-One Percent Increase in its Financial Services Customer Base in the last six months
7 additional financial institutions, including the U.S. arm of a global institution with over 1,500 branches and assets in excess of $1.5T, are currently implementing Trust Stamp’s Privacy-first biometric technology
ATLANTA, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity CompanyTM, today provides an update regarding the adoption of its low-code Orchestration Platform, which streamlines delivery and implementation of the Company’s proven technologies.
Since Trust Stamp’s previous announcement in that 22 financial institutions with over $50B in assets and over 850 branches were at various stages of implementing its Orchestration Layer, an additional 7 institutions, including the U.S. arm of a global institution with over 1,500 branches and assets in excess of $1.5T, have commenced the process of implementing the Orchestration Layer.
Andrew Gowasack, President of Trust Stamp commented, “We are encouraged by the growing demand for our privacy-first technology from enterprises of all sizes across the banking industry. The regulatory environment governing the banking and biometric sectors continues to evolve, and these prudent financial institutions understand the importance of improving customer privacy and security in parallel to combating fraud and complying with their due diligence obligations.”
Gowasack went on to state, “With our strategic pivot to focusing on SaaS product delivery, we are currently targeting a total of 45-50 financial institutions onboarded by the end of 2023 with significant long-term usage revenue starting in 2024.”
Inquiries
Trust Stamp Email:
Gareth Genner, CEO
Andrew Gowasack, President
About 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 in six 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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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.
