Atlanta, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity Company^TM providing AI-powered trust and identity services used globally across multiple sectors, announces that on August 10, 2023 it received an Issue Notification from the United States Patent Office in respect of Patent # 11,741,263 entitled “Systems and Processes for Lossy Biometric Representation”. This patent will be the seventeenth issued to the company in addition to which the company has an additional fourteen patent applications pending, including one patent that has been approved but not yet issued.

Dr. Norman Poh, Chief Science Officer of the Company commented, “This patent further strengthens our intellectual property portfolio related to the tokenization of biometric data. Regulators, consumers and enterprises are becoming very aware of the risks associated with storing biometric images and templates and our proprietary tokenization technology avoids those risks while maintaining and indeed extending the utility of the data that is stored. This technology can be utilized as a component of our comprehensive identity validation services or overlaid on legacy biometric service providers." 

On August 1, 2023, Andrew Gowasack, President of Trust Stamp announced a 31% increase in the Company’s financial services customer base in the prior six-month period.

Trust Stamp will release its financial results for the second quarter of 2023, together with an overview of its business performance and strategy on August 14th, 2023.

Inquiries

Trust Stamp                                                   Email: Shareholders@truststamp.ai

Gareth Genner, CEO            

About Trust Stamp

Trust Stamp the Privacy-First Identity Company^TM, 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 seven 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.

Safe Harbor Statement: Caution Concerning Forward-Looking Remarks 

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.