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Trust Stamp builds new MFA solution with selfie biometrics, tokenization technology

Trust Stamp builds new MFA solution with selfie biometrics, tokenization technology
 

Trust Stamp launched a multi-factor authentication solution named ‘Biometric MFA’ to replace traditional password-based MFA with selfie biometrics.

“Device-based multi-factor authentication is vulnerable,” says Kinny Chan, Trust Stamp’s chief commercial officer. “Passwords and passcodes aren’t enough to ensure that genuine, authorized users are accessing their own accounts or initiating transactions. Biometric MFA lets partners layer intuitive, convenient, and seamless identity authentication where vulnerable passcodes are used today.”

A video from Trust Stamp shows how Biometric MFA functions. A web browser asks for MFA from a smartphone, upon where it sends a text message to the phone that will request the user’s selfie with a short video. Trust Stamp says the new solution replaces one-time passcodes (OTPs) like SMS 6-digit codes, email codes, authenticator apps, hardware tokens, and segmented user flows with a low-friction alternative that is more secure and private. It also performs a liveness check to prevent spoofing attacks.

It applies Trust Stamp’s Irreversibly Transformed Identity Token (IT2) for a rapid probabilistic 1:1 comparison to perform authentication.

Biometric MFA joins the company’s identity orchestration platform that executes biometric, document and liveness verification with data protection to support identity frameworks.

In the wake of the product launch, Trust Stamp’s shares jumped by more than 300 percent to $7.62 on the Nasdaq, as called out by MarketWatch, before falling back to the low-$5 range in mid-afternoon trading, still well above its $2.24 high in Wednesday trading.

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