Trust Stamp secures Mastercard investment to provide authentication with low connectivity
Trust Stamp has secured a strategic investment from Mastercard to expand on its AI-powered authentication services for developing communities, after graduating the 2018 Mastercard Start Path accelerator program, the company announced.
“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,” said Gareth N. Genner, Trust Stamp CEO. “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.”
A the ID4Africa conference in Johannesburg, South Africa, in June 2019, Mastercard and the Atlanta-based company presented a secure non-PII authentication network for online and offline environments, which they developed together.
Mastercard’s Inclusive Identity solution was named one of six “New Economy Solutions 2020” in the ’emerging technology’ category by Bloomberg.
“This is part of our commitment to make the digital economy work for everyone, everywhere,” said 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.”
Last November Emma Lindley joined the Trust Stamp Advisory Board to help guide the development of inclusive solutions. In September Emergent Technology Holdings (EmTech) announced a strategic investment in Trust Stamp, and the deployment of its AI and biometric hashing technology across its fintech platforms.