REG - T Stamp Inc - Trust Stamp Acquires PixelPin

MetlifeAnnouncement

18/03/2021 12:15

RNS Number : 7317S
  
T Stamp Inc
  
18 March 2021
  
 

 
 
Trust Stamp Acquires PixelPin, Innovative Authentication IP
 
Sliema, Malta, 18 March 2021: Trust Stamp (OTCQX: IDAI, Euronext Growth: AIID ID), a global provider of AI-powered identity services for use in multiple sectors, today announces its acquisition of PixelPin, an image-based "Pin-on-Glass" account access solution that alleviates pain-points of traditional login methods while ensuring the security of authentication. 
 
PixelPin works by leveraging a series of selected points on images that are pre-determined by the user, to provide a simplified but fraud-resistant alternative or supplement to traditional authentication processes. This acquisition further enhances Trust Stamp's innovative portfolio of technology solutions that enable improved customer experiences and reputation while broadening the scope of internal risk-management strategies and providing additional options for multi-factor authentication. 
 
The announcement comes amidst a series of milestones for Trust Stamp in early 2021, including their admission to the OTCQX Best Market, leadership team expansion, and launch of a US $5 million round of funding. Now under the direction of Trust Stamp Malta Limited, PixelPin represents the first post-listing acquisition in Trust Stamp's ambitious roadmap for growth.
 
Miles Clee, CEO of PixelPin prior to the acquisition, now joins Trust Stamp as Vice President of Commercial Initiatives, bringing over 40 years of leadership experience in the technology space. The companies were first introduced during their participation in the UK's National Cyber Security Centre (NCSC) Cyber Accelerator in partnership with the Government Communications Headquarters (GCHQ) and other leaders in cybersecurity.
 
Kinny Chan, Chief Commercial Officer of Trust Stamp commented, "As Trust Stamp continues to expand and productize our technology offerings to accelerate global digital transformation, PixelPin offers our partners a secure, simple, and customer-friendly authentication experience. Further, PixelPin expands on Trust Stamp's core value to provide secure access to a digital identity; PixelPin's ease of use facilitates secure authentication to individuals that are encumbered by traditional usernames and passwords." 
 
Chan continued, "We look forward to working with Miles to build on PixelPin's work to date by bringing the solution to market and realizing its potential as a component of our growing product portfolio, both as a stand-alone security factor and in multi-factor authentication implementations."
 
Clee commented, "PixelPin had focused on developing, testing, and fine-tuning the technology while establishing market fit with international pilots. With Trust Stamp's proven track record of delivering transformative solutions that excel in commercial adoption, this acquisition provides a unique opportunity to rethink authentication norms and put the product into the hands of users across multiple industries."
 
About Trust Stamp
Trust Stamp 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 organisations with 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 and Asia, Trust Stamp trades on the OTCQX Best Market (OTCQX: IDAI) and is listed on Euronext Growth in Dublin (Euronext Growth: AIID ID). Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 60 people with flagship customers including Mastercard International, Synchrony Financial, and FIS.
  
About PixelPin 
PixelPin is a leader in image-based authentication, providing users and businesses with a secure, personal and user-friendly means of logging into their online accounts. Capitalizing on the strength of the human visual processing and recall abilities, PixelPin challenges the stagnant authentication landscape of lengthy credentials, static and one-time passwords, and other high-friction, knowledge-based identity proofing methods, with a login solution built on intuition.
 

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