Trust Stamp, an AI powered authentication services company headquartered in the Advanced Technology Development Center (ATDC) at the Georgia Institute of Technology, received a strategic investment from Mastercard. Trust Stamp is a graduate of the 2018 Mastercard Start Path accelerator program.
Trust Stamp CEO, Gareth N. Genner said: “Our initial work with Mastercard has been focused upon enhancing privacy and data security in environments with low connectivity, and we have been impressed by the breadth and depth of Mastercard’s commitment to that space. The programs currently being developed have the potential to improve the lives of communities around the world and we are proud to be a key component of the underlying technology”.
Mastercard and Trust Stamp introduced their first collaboration with a secure non-PII authentication network for both online and offline environments at the June 2019 ID4Africa conference in Johannesburg, South Africa. In November 2019, Mastercard’s Inclusive Identity solution was chosen by Bloomberg Inc. as one of six “New Economy Solutions 2020” in the ’emerging technology’ category. fintech news
“This is part of our commitment to make the digital economy work for everyone, everywhere,” comments Shashi Raghunandan, Mastercard’s senior vice president for humanitarian and development programs. “Trust Stamp’s AI-powered technologies help us to provide our development sector partners with robust authentication solutions”.
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.
Mastercard (NYSE: MA), http://www.mastercard.com/ is a technology company in the global payments industry. Mastercard’s global payments processing network connects consumers, financial institutions, merchants, governments, and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business, and managing finances – easier, more secure, and more efficient for everyone.