authID.ai to be Granted US Patent for Biometric Identity Authentication Routing Technology

Rhea-AI Summary

authID.ai (Nasdaq: AUID) has been granted U.S. Patent No. 11182777, set to be issued on November 23, 2021. This patent covers a method linking identity attributes to a Primary Account Number (PAN) for secure user authentication. It allows transactions to be authorized via biometrics without revealing sensitive data, enhancing security during identity verification processes across various platforms. CEO Tom Thimot emphasized the patent's significance in their vision of 'payments by face,' aiming for seamless and secure transactions.

Positive

• Issuance of U.S. Patent No. 11182777 enhances authID.ai's proprietary technology.
• The patent supports secure biometric authentication, potentially increasing user adoption.
• Innovative use of PAN for identity verification could lead to broader market opportunities.

Negative

• None.

LONG BEACH, NY, Nov. 18, 2021 (GLOBE NEWSWIRE) -- authID.ai (Nasdaq: AUID) (formerly Ipsidy), a leading provider of secure, mobile, biometric identity authentication solutions, today announced the Company has received notification from the U.S. Patent and Trademark Office (“USPTO”) that U.S. Patent No. 11182777 (“the ‘777 patent”) will be issued on November 23, 2021.

The ‘777 patent, entitled Systems and Methods Using a Primary Account Number to Represent Identity Attributes, is for a method that enables various attributes of the individual, to be securely linked to a Primary Account Number (PAN) to authenticate the user’s identity. The PAN of a user may then be used for identifying a user, without any sensitive data being released, as well as used to provide access, such as opening a door for a user, or accessing a bank account, or other payment method of the user. The PAN has become the most ubiquitous way of processing credit card and other payment transactions, which can be sent over established communications networks between banks and merchants anywhere in the world. Using this invention, identity authentication transactions can be authorized via the individual’s biometrics, such as the user’s unique facial features and routed over the same networks in the same way as payment transactions.

The identity attributes are stored in a secure, encrypted database that can be accessed when called upon during identity authentication or verification transactions. A transaction processor can then use the PAN to efficiently and securely facilitate a range of identity verification or authentication transactions. In this way, the identity attributes themselves do not have to be transferred or disclosed to the merchant and thereby exposed to potential theft.

These types of identity verification and authentication transactions which can be authorized by the individual using their biometrics may be required when, for example: using public transportation, accessing medical records, entering physical facilities, or when making payments at a point of sale to a merchant both on existing global networks as well as future platforms that may be developed. 

“This patent grant validates the innovation behind authID’s proprietary solutions and is further proof of our commitment to optimizing the identity verification process and addressing the inherent problems of legacy authentication options,” said Tom Thimot, CEO of authID.ai. “This brings us one step closer to actualizing our vision of ‘payments by face,’ in which every enterprise can use cloud-based biometrics to offer its customers a more convenient, frictionless, and secure transaction experience.”

About authID.ai
authID.ai (Nasdaq: AUID), formerly Ipsidy, provides secure, mobile, biometric identity verification software products through an easy-to-integrate Identity as a Service (IDaaS) platform. authID’s suite of self-service biometric identity proofing and authentication solutions aims to frictionlessly eliminate all usernames and passwords through a consent-based facial matching system. Powered by sophisticated biometric and artificial intelligence technologies, authID aims to strengthen security and trust between businesses and their customers by helping to protect sensitive personal data. For more information, go to www.authid.ai.

Investor Relations Contacts:         
Grace DeFries
authID.ai
investor-relations@authID.ai

Ina McGuinness
The Bliss Group
805-427-1372

Media Contacts:
Erin Harrison or Natalie Shutts
The Bliss Group
eharrison@theblissgrp.com
nshutts@theblissgrp.com

FAQ

What is U.S. Patent No. 11182777 about?

U.S. Patent No. 11182777 focuses on linking identity attributes to a Primary Account Number (PAN) for secure user authentication.

When will U.S. Patent No. 11182777 be issued?

U.S. Patent No. 11182777 is set to be issued on November 23, 2021.

How does authID.ai plan to use its new patent?

authID.ai aims to leverage the new patent to enhance its biometric authentication solutions and promote secure transaction methods.

What does the patent imply for authID.ai's future?

The patent may offer authID.ai a competitive edge in biometric identity verification, fostering growth and innovation in secure transactions.