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Trust Stamp (Nasdaq: IDAI) has partnered with Botdoc to integrate its low-code Orchestration Platform into Botdoc Connect, enhancing Identity Verification and KYC for the automotive industry. This collaboration aims to combat rising fraud rates and cybersecurity concerns in auto dealerships. The integration includes document validation using the Driver License Data Verification (DLDV) System from the American Association of Motor Vehicle Administrators (AAMVA).

With nearly 80,000 cars stolen from dealerships last year, this partnership brings advanced security measures to fight fraud, including real-time verification of driver's licenses against issuing agency data. Both companies, graduates of the ICBA ThinkTECH accelerator, bring their expertise from regulated industries like banking and insurance to address critical issues in the automotive sector.

Trust Stamp (Nasdaq: IDAI) has entered a non-binding Letter of Intent with Qenta Inc. for a strategic alliance to serve a global federated network including crypto, bank, and other financial services companies. This alliance aims to integrate Trust Stamp's proprietary tokenized identity technology with Qenta's financial ecosystem, positioning both companies to capitalize on the growing digital transaction market.

Key points:

• The global shift to digital transactions is estimated to reach $16 Trillion annually by 2030
• Tokenization service revenue is predicted to grow from $2.81 Billion in 2023 to $13.2 Billion by 2032
• Trust Stamp has 20 issued patents and 9 pending patents related to identity and data tokenization
• The alliance aims to enhance capabilities for AI-powered solutions in data controls, privacy, secure content transfer, and payments

Trust Stamp (Nasdaq: IDAI) has filed for its 37th patent, marking a significant milestone in its evolution as a SaaS provider of AI-powered technologies. The company's Chief Technology Officer, Scott Francis, and Chief Science Officer, Dr. Norman Poh, provided insights into Trust Stamp's growing patent portfolio and expanding customer base. Originally focused on financial services, Trust Stamp now serves a diverse global market across sectors such as healthcare, public safety, and blockchain. The company's SaaS Orchestration Layer has facilitated a rapid increase in customers, growing from two at the end of 2022 to over seventy in mid-2024. Recent patents focus on innovations in Zero Knowledge Proof technology and combating AI-powered injection attacks.

Trust Stamp (Nasdaq: IDAI) reported substantial growth in H1 2024 by onboarding 21 new customers to its low-code Orchestration Layer platform, totaling 69 customers.

The company expanded its financial services client base in the U.S. and internationally and entered new industries. It added 14 banks to its platform via a main channel partnership, which signifies a slower-than-expected ramp-up but long-term revenue potential.

Trust Stamp's biometric Identity Tokenization technology allows for easier reauthentication processes, and the company is experiencing steady revenue growth from its existing clients.

New distribution channels like NayaOne and AWS Marketplace have been established, and Trust Stamp initiated a proof of concept with Africa鈥檚 largest mobile network provider.

The company is diversifying into the social media sector with age estimation technology, automotive dealership partnerships, IoT market collaborations, and a healthcare-focused go-to-market strategy.

Additionally, Trust Stamp has been awarded a multi-year public safety contract by an EU government, and extended a strategic relationship with ManTech for defense sector opportunities.

Trust Stamp (Nasdaq: IDAI), a privacy-first identity company, announced the filing of a provisional patent (#63/662,575) for an AI-powered technology to counter injection attacks in biometric authentication processes. These attacks, often using deep fake images and videos, aim to bypass a user's device camera or inject images captured out of context into the data stream between the user's device and the server. Dr. Norman Poh, Trust Stamp's Chief Science Officer, emphasized the increasing frequency of such attacks and the necessity for advanced detection mechanisms. This new technology targets injection attacks regardless of the artifacts used, aiming to enhance security in the face of rapid advances in generative AI.

Trust Stamp has announced the integration of its AI-powered software solutions with Mastercard鈥檚 Sandbox as a Service. This integration enables Mastercard鈥檚 member banks and financial institutions to browse, test, and experience secure and verified solutions within a core banking environment.

The collaboration aims to drive innovation and support partnership strategies by allowing institutions to collaborate, build, and validate solutions with third-party providers. This move is expected to enhance the robustness of fraud prevention measures, thus protecting customers and assets while maintaining trust.

Trust Stamp's President, Andrew Gowasack, highlighted the importance of these measures in combating increasingly sophisticated fraud attempts. He expressed optimism that the integration will shorten the time needed for banks and financial institutions to understand and implement Trust Stamp's technology solutions.

Trust Stamp has launched its proprietary AI-powered Identity HubTM on the NayaOne Tech Marketplace. The software offers advanced biometric authentication, robust identity verification, and synthetic identity fraud detection. Key features include liveness and presentation attack detection, anti-spoofing checks, and synthetic identity detection. The software also enhances data privacy by transforming sensitive personal data into anonymized identity tokens (IT2). This launch aims to help banks and financial institutions combat sophisticated fraud schemes and improve customer retention. Andrew Gowasack, President of Trust Stamp, emphasized the importance of evolving fraud prevention strategies, while NayaOne's Marketplace Manager, Varun Resh, highlighted the growing threats of phishing and social engineering.

Trust Stamp has launched its AI-powered Identity Hub software on the AWS Marketplace, providing access to its identity and fraud prevention tools to over 310,000 global AWS customers. The AWS Marketplace offers benefits such as streamlined procurement, flexible pricing, and centralized control. Andrew Gowasack, Trust Stamp鈥檚 President, highlighted that integrating their software through AWS is advantageous for customers due to AWS鈥檚 rigorous security and standardized license terms. Additionally, Trust Stamp expects faster deal closures and larger deal sizes through AWS Marketplace compared to traditional channels.

T Stamp, trading under Nasdaq: IDAI, announced that its CEO Gareth N. Genner will present at the 'Charting the Course: Navigating the Intersection of TMT and Business in the AI Era' Conference, hosted by Maxim Group The event will be held on June 4th and 5th, 2024, at 8:00 a.m. ET. The conference will focus on how emerging growth companies are leveraging AI and other technologies to innovate across various industries, including drones, IoT, gaming, and entertainment. Maxim Senior Analysts will moderate discussions with CEOs and key management from diverse companies, highlighting the business impact of these technological advancements. The event will be live on M-Vest, and attendees need to register to participate.