Trust Stamp’s first insurance client will use its privacy-first technology for new account opening
ATLANTA, Nov. 08, 2023 (GLOBE NEWSWIRE) — Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity CompanyTM, today provides an update regarding the adoption of its low-code Orchestration Platform, which streamlines delivery and implementation of the Company’s proven technologies.
After recently announcing that 35 financial institutions were implementing its Orchestration Layer, Trust Stamp will now deploy its low-code orchestration platform for a Fortune 500 Insurance company.
Most insurance professionals are familiar with fraud, such as false or exaggerated claims, application fraud, and employee fraud. But as more insurance applications and service processes move online, the threat of third-party fraud has continued to rise, particularly account takeover (ATO), which is up 25 percent over last year.
Andrew Gowasack, President of Trust Stamp, commented, “Our partner is an industry leader who has built their reputation on doing the right thing for over 5M clients and their families. Their approach has helped them build an asset portfolio of over $250 billion. We believe our privacy-first identity technology reinforces that commitment as we help them better protect and serve customers opening new accounts.”
Gowasack went on to state, “ Since participating in the OnRamp Insurance Accelerator we have diligently engaged with the insurance sector to understand its unique needs. We are encouraged by our first partner’s clear understanding of our privacy-first approach and we are already working with a second insurance company that is actively exploring implementation.
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.
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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.
