Trust Stamp Selected for ICBA ThinkTECH Accelerator

Rhea-AI Summary

Trust Stamp (IDAI) selected for ICBA ThinkTECH Accelerator program to develop fraud and identity management solutions for community banks. The program aims to support community bank needs, including analytics, automation, and compliance. Trust Stamp offers biometric identity solutions to combat synthetic identity fraud and protect personal data privacy. The company will receive mentorship and present their offerings at ICBA LIVE 2024 in Orlando.

Positive

• Trust Stamp selected for prestigious ICBA ThinkTECH Accelerator program
• Company provides biometric identity solutions to combat synthetic identity fraud
• Program aims to support community bank needs, including analytics, automation, and compliance

Negative

• None.

Fintech joins sixth cohort to develop fraud and identity management solutions for community banks

ATLANTA, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity Company^TM, announced today its selection to the Independent Community Bankers of America’s (ICBA) ThinkTECH Accelerator program, which kicks off January 8, 2024, in Atlanta.

The sixth cohort selected for ICBA’s ThinkTECH Accelerator program was handpicked for its community bank-focused offerings primed to support several critical community bank needs, including analytics, automation, and compliance. This is the first of two planned accelerator programs for 2024 as part of ICBA’s shift to year-round programing and increased investment in ThinkTECH initiatives to support continuous development and advancement of community bank innovation.

“As a leading presence in the global financial services market, we are thrilled to participate in the ICBA ThinkTECH Accelerator, a vital source of community banking innovation since 2019,” said Trust Stamp President Andrew Gowasack. “With Trust Stamp, community banks can leverage biometric and personal information from their customers to deploy biometric systems without the risk of biometric data theft.”

Trust Stamp is a global provider of AI-powered identity services that empowers community banks with biometric identity solutions that reduce fraud, protect personal data privacy, and increase operational efficiency through unique data transformation and comparison capabilities. 

Since launching its low-code Orchestration Layer in 2022, over 35 community banks are implementing Trust Stamp's technology to combat synthetic identity fraud.  "With even more direct feedback from community bankers and the support of subject matter experts from the ICBA, we believe we can deliver even more value to community banks in 2024," Gowasack said.

Since its inception, the ICBA ThinkTECH Accelerator has connected the most innovative fintech companies with more than 1,400 community bankers and industry leaders — identifying and designing workable solutions that solve for today’s modern banking needs. Participants receive mentorship from a distinguished network of industry stakeholders through an immersive 10-week bootcamp and will present their refined offerings to community bank executives during a demo at ICBA LIVE 2024 in Orlando.

“We are excited to have Trust Stamp join us as a member of our latest ThinkTECH accelerator cohort,” ICBA Executive Vice President and Chief Innovation Officer Charles Potts said. “Fraud and identity management continue to remain a top priority for community bankers. Adaptive technologies like Trust Stamp, which offer secure and efficient authentication solutions offer another layer of protection to help community bankers rest easier.”

For more information about Trust Stamp, visit truststamp.ai. To learn more about the ICBA ThinkTECH Accelerator, visit www.icba.org/accelerator.

Inquiries

Trust Stamp                                                   Email: Shareholders@truststamp.ai

Gareth Genner, CEO

Andrew Gowasack, President

ICBA                                                   Email: Nicole.Swann@icba.org

Nicole Swann

                       

About Trust Stamp

Trust Stamp the Privacy-First Identity Company^TM, 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. 

About ICBA

The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.

FAQ

What is Trust Stamp's (IDAI) involvement in the ICBA ThinkTECH Accelerator program?

Trust Stamp has been selected to develop fraud and identity management solutions for community banks as part of the program.

What solutions does Trust Stamp offer to community banks?

Trust Stamp provides biometric identity solutions to combat synthetic identity fraud and protect personal data privacy.

Where will Trust Stamp present their offerings?

Trust Stamp will present their refined offerings at ICBA LIVE 2024 in Orlando after receiving mentorship from industry stakeholders during the 10-week bootcamp.

How many community banks are implementing Trust Stamp's technology?

Over 35 community banks are implementing Trust Stamp's technology to combat synthetic identity fraud.

What is the goal of the ICBA ThinkTECH Accelerator program?

The program aims to support community bank needs, including analytics, automation, and compliance, by connecting innovative fintech companies with community bankers and industry leaders.

Who is ICBA's Chief Innovation Officer?

Charles Potts serves as the Executive Vice President and Chief Innovation Officer of ICBA.