Trust Stamp Selected as a SaaS Software Supplier on the United Kingdom’s G-Cloud 13 Digital Marketplace

Rhea-AI Summary

Trust Stamp (Nasdaq: IDAI) is now listed as a Software-as-a-Service (SaaS) supplier on G-Cloud 13, a UK Government cloud procurement framework. This listing enhances visibility for Trust Stamp's solutions, including Privtech Certified™ technology, which focuses on privacy-first identity authentication. The G-Cloud framework enables UK public sector organizations to procure cloud services efficiently, awarding £2.8bn in contracts in 2021/2022. The framework allows contracts of up to three years, with a possible one-year extension, providing an opportunity for Trust Stamp in the public sector market.

Positive

• Listing on G-Cloud 13 enhances Trust Stamp's visibility to public sector organizations in the UK.
• Access to a substantial market with £2.8bn awarded in contracts in 2021/2022.
• Privtech Certified™ products offered can be quickly and cost-effectively implemented.

Negative

• None.

Atlanta, GA, Oct. 11, 2022 (GLOBE NEWSWIRE) -- T Stamp Inc. (“Trust Stamp” or the “Company”) (Nasdaq: IDAI, Euronext Growth: AIID ID), an AI-powered trust and identity services company used globally across multiple sectors, announces that it is being listed as a Software-as-a-Service (SaaS) supplier on G-Cloud 13, the UK Government’s latest cloud procurement framework.

G-Cloud is a key framework in the UK Government's digital marketplace, established by the UK Crown Commercial Service (CCS) to help UK public sector organizations, including central government, local government, the police, and the NHS, to find and procure the latest cloud software services. 

The G-Cloud framework enables UK public sector organizations to award call-off contracts efficiently and directly without a tendering process. In 2021/2022, UK public sector organizations awarded contracts worth approximately £2.8bn through G-Cloud, including £1.4bn awarded to SME companies. G-Cloud 13 will start in November 2022, superseding G-Cloud 12. Contracts awarded under the G-Cloud 13 framework can be signed for up to three years, with an option to extend for a year.

David Story, Trust Stamp’s Board Chair and Managing Director of UK Operations said, “Being listed on G-Cloud 13 will make it easier for UK public bodies to gain awareness of and procure our SaaS products, including our Privtech Certified™ government-focused technology, which offers a unique privacy-first identity authentication suite that can be quickly and cost-effectively implemented without capital investment.”  

Trust Stamp’s Privtech Certified™ products that are offered on G-Cloud 13 include biometric identity proofing, biometric identity matching and biometric multi-factor authentication. 

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.

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 on 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.

Trust Stamp                                                      Email: akneale@truststamp.net

Amy Kneale, Account Manager              

Davy (Euronext Growth Advisor)                       Tel: +353 1 679 6363 

Barry Murphy

Investor Relations                                            Tel: +1 212-671-1021

Crescendo Communications                              Email: idai@crescendo-ir.com

FAQ

What does Trust Stamp's listing on G-Cloud 13 mean for investors?

Trust Stamp's inclusion on G-Cloud 13 increases visibility and potential contract opportunities in the UK public sector, which may enhance revenue.

When does the G-Cloud 13 framework begin?

The G-Cloud 13 framework starts in November 2022.

What are the contract terms under G-Cloud 13?

Contracts can be signed for up to three years with an option for a one-year extension.

What is the significance of Trust Stamp's Privtech Certified™ technology?

Privtech Certified™ technology offers a privacy-first identity authentication solution that is rapidly deployable, enhancing governmental identity verification.

How much was awarded to SMEs through G-Cloud in 2021/2022?

In 2021/2022, £1.4bn was awarded to SME companies through the G-Cloud framework.