Ipsidy Joins the FIDO Alliance

Rhea-AI Summary

Ipsidy Inc. (OTCQB:IDTY) announced its membership with the FIDO Alliance, a coalition focused on developing secure, passwordless authentication standards. This partnership aims to enhance identity verification using biometric and cryptographic technologies, supporting FIDO’s mission to eliminate passwords. Ipsidy’s mobile identity solutions align with FIDO’s goals of providing safer and simpler authentication processes. The CEO of Ipsidy expressed enthusiasm about contributing to the development of interoperable standards for strong authentication.

Positive

• Ipsidy joins FIDO Alliance, enhancing its market credibility.
• Partnership aligns with growing demand for secure, passwordless authentication solutions.
• Ipsidy's technology integrates with FIDO standards, potentially expanding customer base.

Negative

• None.

Long Beach, NY, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Ipsidy Inc. (www.ipsidy.com) [OTCQB:IDTY] a leading provider of secure, mobile biometric identity solutions,  including Identity as a Service (IDaaS),  today announced it has joined the FIDO Alliance, a cross-industry coalition developing open, interoperable authentication standards that reduce reliance on passwords with authentication that is more secure, private, and easier to use.

The FIDO (Fast Identity Online) Alliance was formed in 2012 to address the problems individual users face in creating and remembering multiple usernames and passwords. FIDO compliant solutions eliminate passwords by using the combination of biometric verification and device authentication via cryptographic security, thereby speeding and securing user login. FIDO Alliance membership includes global leaders in technology that help to influence the FIDO specifications and establish best practices for FIDO authentication deployment.

Ipsidy’s vision is to establish and bind a rooted, trusted identity to a user.  Strong identity verification removes any uncertainty of a user’s identity, thereby enhancing FIDO strong authentication and facilitating FIDO’s mission of eliminating the reliance on passwords.   Ipsidy’s mobile identity platform and solutions such as Proof™, are designed to offer a seamless and certain user identity verification experience, which we believe is wholly consistent with FIDO’s goals of simpler and safer authentication.

“We are excited to welcome our newest associate member, Ipsidy,” said Andrew Shikiar, Executive Director and CMO of the FIDO Alliance. “The FIDO vision of universal strong authentication promises better security, enhanced privacy, more commerce, and expansion of services throughout digital industries. Ipsidy’s addition to our Alliance supports our industry goal to make user authentication easier and safer for all parties.”

“Ipsidy is enthusiastic to join the powerful FIDO ecosystem, vital to widespread adoption of strong authentication,” said Phil Kumnick, CEO of Ipsidy. “Ipsidy is committed to helping define the interoperable standards that will drive  identity verification and strong authentication, delivered quickly to customer platforms and their users. The alliance and Ipsidy both believe in the goal of delivering on this promise while providing the highest levels of accuracy, security and trust.”

About Ipsidy

Ipsidy Inc. (OTCQB:IDTY) www.ipsidy.com, We are Digital Identity^TM. Ipsidy’s mission is to ensure our customers know the identity of their users with biometric certainty. Our Identity as a Service (IDaaS) platform delivers a suite of secure, mobile, facial biometric identity solutions, available to any vertical, anywhere. Our robust identity verification and authentication solutions work great on their own but even better together to help answer everyday questions: Who is applying for a loan? Who is sending money? Who is requesting an account change? Ipsidy is committed to providing seamless, accurate and speedy identity solutions that establish security and trust in today’s digital world.

Ipsidy is headquartered in New York and has operating subsidiaries: MultiPay in Colombia, www.multipay.com.co; Cards Plus in South Africa, www.cardsplus.co.za; Ipsidy Enterprises in the U.K. and Ipsidy Perú S.A.C. Further information on Ipsidy can be found at www.ipsidy.com or contact us at sales@ipsidy.com.

Contacts:

Ipsidy Inc.  
Phillip Kumnick, CEO and Deputy Chairman                                               phillipkumnick@ipsidy.com         

FAQ

What is Ipsidy's role in the FIDO Alliance?

Ipsidy has joined the FIDO Alliance to support the development of secure, passwordless authentication standards through its biometric identity solutions.

How does Ipsidy's technology align with FIDO's goals?

Ipsidy's mobile identity solutions utilize biometric verification and cryptographic authentication, directly supporting FIDO's mission of simplifying and securing user authentication.

What are the benefits of Ipsidy joining the FIDO Alliance?

Joining the FIDO Alliance enhances Ipsidy's credibility in the market and aligns its solutions with increasingly important security standards.

What is the stock symbol for Ipsidy?

Ipsidy trades under the stock symbol IDTY on the OTCQB.

When was Ipsidy's membership in the FIDO Alliance announced?

Ipsidy announced its membership in the FIDO Alliance on September 28, 2020.