Trust Stamp Awarded $3.9M DHS Contract
Trust Stamp (OTCQX:IDAI) has secured a $3.92 million contract with U.S. Immigration and Customs Enforcement (ICE) for mobile biometric services utilizing its privacy-focused data tokenization technology. The service delivery is set to commence on September 27, 2021, with expectations to fulfill obligations within the fiscal year. This award reflects Trust Stamp's commitment to secure biometric solutions and its potential to enhance operational efficiency in identity management. The contract underscores the company's innovative approach and success in large-scale implementations.
- Secured a $3.92 million contract with ICE, enhancing revenue potential.
- Contract focused on mobile biometric services which leverage privacy-preserving technology.
- Anticipated fulfillment of contract obligations in the 2021 financial year.
- Demonstrates Trust Stamp's advanced capabilities in the biometric industry.
- None.
ATLANTA, GA / ACCESSWIRE / September 27, 2021 / Trust Stamp (OTCQX:IDAI)(Euronext Growth:AIID), a global provider of AI-powered trust and identity services used across multiple sectors, today announces it has entered into a fixed price purchase order (the "Agreement") amounting to U.S.
Under the Agreement, Trust Stamp (the "Contractor") is responsible for providing mobile biometric services centered around the Company's privacy-preserving data tokenization technology. With an outlined contract delivery period of the earlier of six-months from the commencement date of 27 September 2021, or service delivery to 10,000 participants (and subject to a right of early termination for cause by ICE), the Company anticipates substantially fulfilling the performance obligations in the Agreement in the 2021 financial year.
John Bridge, Executive Vice President of Trust Stamp comments: "Trust Stamp delivers secure, dignified, and streamlined biometric solutions that transform identity and trust frameworks to better meet the needs of all involved parties. This contract award reflects the maturity of our innovative privacy-first approach to identity, along with our commitment to delivering accessible and equitable solutions that work for anyone, anywhere. With proven success in large scale implementations, Trust Stamp looks forward to further demonstrating that the level of security and privacy provided by Irreversibly Transformed Identity Tokenization (IT2TM) is not only achievable across any biometric use case, but also poses immense benefits to cost and operational efficiency.
In realizing our company-wide efforts to win this contract over the previous quarters of 2021, encompassing Trust Stamp's business, technology, and compliance capabilities, we hope to shift standards and expectations of the biometrics industry towards the user-centric protection critical for a globally inclusive digital reality that is built on trust."
Enquiries
| Trust Stamp | Email: Shareholders@truststamp.ai |
| Gareth Genner, Chief Executive Officer | |
| Nisha Naik, Executive VP of Communications | |
| Davy (Euronext Growth Advisor) | Tel: +353 1 679 6363 |
| Barry Murphy | |
| Powerscourt (Financial Public Relations) | Tel: +353 87 236 5973 |
| Eavan Gannon | Email: Truststamp@powerscourt-group.com |
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 OTCQX Best Market (OTCQX:IDAI) and Euronext Growth in Dublin (Euronext Growth: AIID ID). Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 80 people with flagship customers including Mastercard International and FIS.
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SOURCE: T Stamp Inc
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