Trust Stamp Enters Insurtech Space with $100,000 Investment from OnRamp Accelerator
Atlanta, May 12, 2020 (GLOBE NEWSWIRE) — Trust Stamp, a global provider of AI-powered identity services, announces their acceptance into the OnRamp Insurance Accelerator, the leading accelerator for insurance innovation. Participation comes with a $100,000 investment into the company’s Series A round of funding and access to gener8tor’s global network of mentors and investors.
Trust Stamp joins the second cohort with just five companies selected for the exclusive program each year. While the accelerator is based out of Minneapolis in partnership with locally headquartered key players in the insurance industry, Allianz Life and Securian Financial, the program has gone virtual in 2020.
Trust Stamp empowers organizations 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.
Andrew Gowasack, Trust Stamp President and Co-Founder, comments on the applicability of their solutions in the space, saying, “Across industries, we see sensitive personal information being used to establish truth when initiating business and financial relationships between enterprises and their customers. While regulatory mandates rightfully require institutions to verify customer identities to a high degree of confidence, the sharing and storage of user data poses a great risk to institutional security and individual privacy.”
As the need to establish secure digital trust increases globally, the breadth of Trust Stamp’s targeted industries and use cases continues to grow. With a proven track record of impactful authentication solutions deployed for major leaders in the payments space, their solutions are trusted to meet the highest standards in identity and fraud prevention.
“We are excited to explore potential applications for Trust Stamp’s identity solutions to improve customer experience, enhance institutional security, and protect user privacy in the insurance industry,” adds Gowasack.
About Trust Stamp:
Trust Stamp applies advanced cryptographic techniques and AI-powered presentation-attack detection tools to biometric and other identity data to create a proprietary non-PII Hash™ (EgHash™). An EgHash is unique to the subject and provides a tokenized identity that cannot be reverse engineered, can be matched and deduplicated using Trust Stamp’s probabilistic AI, and verified 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 law enforcement. Trust Stamp is currently participating in the Netherlands based Blue Tulip Awards program as a finalist and is a graduate of multiple global programs including QCFintech, 630 Cybersecurity, Plug and Play (Silicon Valley and UAE), NAR REach, Mastercard Startpath, the Georgia Advanced Technology Development Center and the UK’s GCHQ/NCSC incubator.
CONTACT: Nisha Naik, Marketing Director +1 (404) 806-9906 (Ext. 705) [email protected] https://truststamp.ai/
