Trust Stamp and VIVA Finance Partner to Transform Inclusive Finance

Rhea-AI Summary

Trust Stamp (Nasdaq: IDAI) has partnered with VIVA Finance, a mobile-first FinTech platform, to enhance financial inclusion. The collaboration aims to offer innovative trust and identity solutions that enable accessible credit for those with thin credit histories. With Trust Stamp's AI-powered biometric verification and data protection technologies, VIVA seeks to provide affordable loans based on employment history rather than credit scores, catering to underserved individuals. This partnership is expected to drive equitable financial systems.

Positive

• Strategic partnership with VIVA Finance to promote financial inclusion.
• Trust Stamp's AI technology enhances risk management and expands user base.
• VIVA's model supports affordable credit access for individuals with thin credit histories.

Negative

• None.

ATLANTA--(BUSINESS WIRE)-- Trust Stamp (Nasdaq: IDAI, Euronext Growth: AIID ID), the Privacy-First Identity Company™ providing AI-powered trust and identity services used globally across multiple sectors, announces a partnership with VIVA Finance (“VIVA”), a mobile-first FinTech lending platform driving financial inclusion through their unique approach to affordable credit. With a shared core focus on financial inclusion, Trust Stamp and VIVA are leveraging their innovative solutions together to support robust, accessible, and equitable financial systems as the foundation for global inclusion.

(Graphic: Trust Stamp)

VIVA empowers individuals with thin credit histories to establish the framework for long-term financial health by transforming access to affordable credit with loans underwritten by employment history rather than credit score. Their technology serves thousands of working Americans who are traditionally met with opaque and often predatory financial products.

In addition to perpetuating exclusion, credit checks and other traditional customer risk assessment procedures can be intrusive, expensive, and establish a narrow view of trust. Trust Stamp’s proven facial biometric verification, document validation, and data-protection methodologies use advanced artificial intelligence to enhance risk management measures while serving a greater population of users. The Company’s privacy-first tokenization technology maintains the utility of identity data while protecting information security within compliance processes, amplifying what consumers are able to access using their identity.

In combining their innovations, Trust Stamp and VIVA are working to provide underserved individuals with an entry point to participate in the digital-first future of finance, breaking the barrier to achieving societal and financial inclusion.

Trust Stamp Chief Commercial Officer, Kinny Chan comments: “Trust Stamp’s vision for global inclusion has driven our work to provide secure, privacy-first identity solutions for the billions of people around the world whose lack of verifiable data prevents them from accessing financial services. VIVA’s transformative work highlights the need for equitable services and greater consumer choice even in highly developed economies.

“The integration of Trust Stamp’s secure, equitable, and dignified solutions for establishing trust is an important factor in the multifaceted effort to empower all individuals with financial opportunity. We are thrilled to work with the VIVA team as we continue fostering mission-aligned partnerships to expand the reach and impact of Trust Stamp’s powerful identity solutions.”

VIVA’s CEO & Co-Founder, Jack Markwalter comments: “We are thrilled to partner with Trust Stamp to further our mission of building an inclusive financial system. This partnership will allow us to prevent would-be identity thieves from using our application, while not adversely affecting honest people who may have thin or no credit history.”

Trust Stamp invites companies to explore opportunities for integration and channel partnerships here.

About Trust Stamp

Trust Stamp 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 seven countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market (Nasdaq: IDAI) and Euronext Growth in Dublin (Euronext Growth: AIID ID). Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 100 people.

About VIVA Finance

Founded in 2019 and accelerated through Georgia Tech’s ATDC program, VIVA Finance is expanding its accessibility nationwide on the heels of its 2021 Series A funding round. VIVA Finance aims to help borrowers with less-than-ideal credit secure personal loans, build their credit, and learn better financial habits in order to improve their overall financial health. With over $25M in personal loan originations to date, VIVA is being rapidly adopted as a leading source of affordable financing for working Americans. Over 400 five-star Google reviews tell the story of easy, accessible loan options through https://viva-finance.com/.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220311005363/en/

Trust Stamp

Email: Shareholders@truststamp.ai

Gareth Genner, Chief Executive Officer

Nisha Naik, Executive VP of Communications

Trust Stamp Investor Relations

Tel: +1 212-671-1021

Crescendo Communications

Email: idai@crescendo-ir.com

VIVA Finance

Marla Klotz

Email: marla@viva-finance.com

Source: VIVA Finance