Trust Stamp ® Announces the Fortieth Financial Institution to start integration with the Company’s Orchestration Layer

Rhea-AI Summary

Trust Stamp (Nasdaq: IDAI) provides an update on the adoption of its low-code Orchestration Platform, with 40 financial institutions currently using or implementing its Privacy-first, AI-Powered biometric technology. Since January 2023, 18 more financial institutions have commenced the process, bringing the total to 40. The company anticipates significant long-term usage-based revenue starting in 2024.

Positive

• 40 financial institutions using or implementing Trust Stamp's AI-Powered biometric technology
• Anticipated significant long-term revenue starting in 2024

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• None.

A total of Forty Financial Institutions are currently using or implementing Trust Stamp’s Privacy-first, AI-Powered biometric technology via The Company’s Orchestration Layer

ATLANTA, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity Company^TM, today provides an update regarding the adoption of its low-code Orchestration Platform, which streamlines delivery and implementation of the Company’s proven AI-Powered technologies.

Since Trust Stamp’s announcement in January 2023, that 22 financial institutions were at various stages of implementing its Orchestration Layer, an additional 18 financial institutions have commenced the process of implementing the Orchestration Layer.

Andrew Gowasack, President of Trust Stamp, commented, “We are excited by the growing demand for our privacy-first, AI-powered technology from enterprises of all sizes across the financial sector from mid-sized community banks to a leading international bank and one of America’s largest life insurers. These institutions recognise the need to deploy cutting edge AI-Powered tools to combat fraud but want to do so in a low-friction manner that protects the data and privacy of their customers.”

Gowasack went on to state, “We are on track for our target of onboarding 45 or more financial institutions by the end of 2023 and we anticipate significant long-term usage based revenue starting in 2024." 

Inquiries:

Trust Stamp                                                   Email: Shareholders@truststamp.ai

Gareth Genner, CEO

Andrew Gowasack, President                       

About Trust Stamp
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.

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.

FAQ

How many financial institutions are currently using or implementing Trust Stamp's Privacy-first, AI-Powered biometric technology?

40 financial institutions are currently using or implementing Trust Stamp's Privacy-first, AI-Powered biometric technology.

What is the ticker symbol for Trust Stamp?

The ticker symbol for Trust Stamp is IDAI.

What is Trust Stamp's Orchestration Platform?

Trust Stamp's Orchestration Platform is a low-code platform that streamlines delivery and implementation of the Company's proven AI-Powered technologies.

What is the target for onboarding financial institutions by the end of 2023?

Trust Stamp is on track for its target of onboarding 45 or more financial institutions by the end of 2023.

When does Trust Stamp anticipate significant long-term revenue to start?

Trust Stamp anticipates significant long-term usage-based revenue starting in 2024.