Emergent Technology (EmTech) has made a strategic investment in T Stamp to bring identity verification across its platforms.
Following its investment, EmTech will deploy Trust Stamp’s technology across its Emergent Payments, G-Coin, and Responsible Gold businesses.
Trust Stamp’s core application combines facial biometrics and proof of life tests to create unique and secure digital identities. Using a mobile phone or computer, an individual captures a video or still image of their face.
That biometric data is recorded and matched with a photo-ID, public records or social media to verify identity, and then translated into a proprietary hash, which can be used to analyse and attach trust or preferences to business interactions.
“We see an opportunity to not only provide an identity to the financially excluded of the world, but also to link their digital identities to our global payments ecosystem. With G-Coin, we offer a payment and wealth preservation platform, and with Emergent Payments, we connect these consumers to digital merchants with local payment methods they are familiar with.”
EmTech is a payments provider for digital merchants expanding into high-growth markets. It claims to be the only company with full payments coverage in all major emerging regions – Asia Pacific, Latin America, Middle East and Africa.
The company will also implement Trust Stamp across its Responsible Gold platform for the gold supply chain, which uses blockchain technology to track conflict-free gold from mine, to refinery, to vault. Trust Stamp’s imaging technology will be used to verify the authenticity, provenance, and uniqueness of each gold kilobar registered on EmTech’s Responsible Gold blockchain.
Trust Stamp’s hash is in operation across multiple industries including, banking, fintech, KYC/AML compliance, real estate, and law enforcement. It is being piloted to fight human trafficking by the Attorneys General of New Mexico and Guanajuato, Mexico, with further rollout in additional U.S. states to come.
Trust Stamp applications are used by members of the National Association of Realtors in the U.S. to verify client identity and by members of the National Association of Estate Agents in the U.K. to perform full KYC/AML and onboarding functions.
“We are excited to bring an identity solution to EmTech, its clients and partners. Trust Stamp’s technology will make EmTech’s compliance and customer authentication processes even stronger across their G-Coin and Emergent Payments offerings,” said Trust Stamp co-founder Andrew Gowasack.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
