Trust Stamp has joined the NayaOne Tech Marketplace, offering AI-powered identity solutions that assist banks and financial institutions in combating fraud, retaining customers, and expanding their user base.
Trust Stamp’s unique tokenization technology takes raw biometric data, such as fingerprints or facial scans, and transforms it into secure, anonymized tokens known as IT2 tokens. By converting sensitive biometric information into tokens, the technology ensures that personal data is protected and cannot be easily traced back to an individual.
“NayaOne’s Sandbox-as-a-Service platform provides financial institutions with the ability to build, test, and create unique solutions to the complex problems faced by banks and fintechs,” said Andrew Gowasack, President of Trust Stamp. “Trust Stamp’s technology is delivered through a set of micro-services, which is suited to NayaOne’s platform and delivery, giving institutions flexibility in creating solutions.”
“We’re excited to welcome TrustStamp to the NayaOne Tech Marketplace,” said Varun Resh, Marketplace Manager, NayaOne. “Banks and financial institutions are increasingly threatened by sophisticated fraud schemes, which exploit vulnerabilities through tactics like phishing, social engineering, and advanced digital forgery. These challenges require the evolution of fraud detection and prevention strategies, investment in cutting-edge technologies such as AI and biometric authentication, and the prioritization of robust compliance and data privacy measures.”
Trust Stamp’s offerings include biometric authentication with liveness and presentation attack detection, which enhance security during customer onboarding, account access, and high-risk transactions. The company’s identity verification and KYC solutions feature AI-driven document validation, synthetic identity detection, and irreversible tokenization of sensitive data, streamlining compliance processes and mitigating fraud risks.
–
July 10 2024 – by Tony Bitzionis
Follow Us