Atlanta, Aug. 04, 2020 (GLOBE NEWSWIRE) -- T Stamp Inc. trading as Trust Stamp, an AI powered authentication company dual headquartered in Atlanta (US) and Cheltenham (UK), has teamed up with 10Clouds, a long term partner and expert in the P2P software space, to deliver their proven identity technology with increased accessibility through a SaaS solution.
Trust Stamp is a global provider of AI-powered identity services with a proven track record of empowering organizations such as large enterprise banks to protect themselves and their users through secure identity authentication technology centered on individual privacy and security. Their core solutions allow organizations to adopt biometrics and other anti-fraud initiatives while protecting personal information from hacks and leaks in compliance with regulatory mandates. 10Clouds is an expert in P2P applications and a full-service software developer focused on web applications, mobile apps and digital product design.
The need for secure identity solutions that establish trust in a virtual environment has increased as digital transactions become the norm as a result of the COVID-19 pandemic. With the rise in businesses needing to operate efficiently and securely online, Trust Stamp and 10Clouds have partnered to deliver a SaaS solution that empowers small businesses to keep up with the rapidly accelerating digital transformation by leveraging proven bank-level authentication technology.
From his experience working with large enterprise banks, Alex Valdes, CFO and EVP of Trust Stamp, has identified central pain points when considering a digital transformation that the tool aims to solve. These include the logistical headache of identifying customers, negative user experience caused by high friction security measures, and the cost to onboard customers using manual processes. The evolution of customer experience in the FinTech space compels several complex issues and concerns such as security and ease of use. The tool that Trust Stamp and 10Clouds have developed balances these factors, delivering an effective online user experience that prioritizes privacy, security and fraud detection.
Identifying customers for banking services is a sensitive task that requires thoughtful consideration of all regulatory requirements as well as consideration for how this new process will integrate into existing systems. Through use of modular tools for authentication flow creation and auto-branding along with easy to use plug-and-play integrations, a comprehensive identification process can be quickly designed and implemented to painlessly capture customer data, verify authenticity, and pass the results back to the institution’s database.
The solution is built on Trust Stamp’s proven AI-powered identity technology that uses biometric capture, ID validation and optical character recognition to provide a secure, automated and accurate authentication tool that meets relevant regulatory requirements. Following a successful launch and the welcoming of their first major P2P client, Quartr, Trust Stamp and 10Clouds plan to continue delivering their powerful solutions to meet the needs of companies of all sizes, across industries, through increased accessibility and partnership.
About Trust Stamp:
Trust Stamp applies advanced cryptographic techniques, deep neural networks and proprietary AI powered tools to biometric and other identity data to create a non-PII hash (EgHash™) that is unique to the subject and cannot be reverse engineered. The EgHash can be matched, deduplicated and verified as a tokenized identity via zero-knowledge-proofs. Trust Stamp technology is used in multiple verticals, including humanitarian and development services, banking, FinTech, KYC / AML compliance, real estate, and government.