Trust Stamp partners with Partisia on secure biometric data flow, joins bank accelerator

Atlanta-based Trust Stamp, provider of AI-based biometric trust and identity services to a variety of sectors, has announced a partnership with Partisia Blockchain to launch GlobalSecure Data, which leverages Partisia’s secure multiparty computation (MPC) software to facilitate secure data flow and ensure compliance with shifting global data regulations.

A press release describes GlobalSecure as a global infrastructure where data can be shared securely while adhering to applicable data protection guidelines. Frameworks such as the GDPR are putting pressure on governments to implement more and better safeguards to prevent data breaches, which can mean restrictions on the use of cloud-based platforms. Trust Stamp says the combination of its Privacy First identity token (IT2) with Partisia’s commercial-grade infrastructure for privacy software will provide secure and compliant options to nations that are still developing their technical and digital infrastructure and have limited data processing and storage capacity.

GlobalSecure does not require data transfer to third parties. Per the release, computations can be performed on encrypted data without revealing underlying information; this eliminates the risk of potential data mismanagement or misconduct by third parties. The goal is not only data privacy and security, but also to enable innovation and collaboration across borders by simplifying regulatory constraints, thus making it easier to break into new and emerging markets – particularly those with lax data protection standards, poor cloud infrastructure, strict data localization laws and other data-related challenges.

The GlobalSecure product is built to meet the principles and guidelines of several European governing bodies, including the Conseil d’Etat of France, the Danish Data Protection Agency and the European Data Protection Board (EDPB).

Accelerator sees Trust Stamp focus on biometrics for community banks

Trust Stamp also issued a release announcing its selection to the sixth cohort of the Independent Community Bankers of America’s (ICBA) ThinkTECH Accelerator program, which focuses on analytics, automation and compliance for community banks.

“As a leading presence in the global financial services market, we are thrilled to participate in the ICBA ThinkTECH accelerator, a vital source of community banking innovation since 2019,” says Andrew Gowasack, President of Trust Stamp, which has been implemented in more than 35 community banks as a way to combat synthetic ID fraud. “With Trust Stamp, community banks can leverage biometric and personal information from their customers to deploy biometric systems without the risk of biometric data theft.”

“We are excited to have Trust Stamp join us as a member of our latest ThinkTECH accelerator cohort,” says ICBA Executive Vice President and Chief Innovation Officer Charles Potts. “Fraud and identity management continue to remain a top priority for community bankers. Adaptive technologies like Trust Stamp, which offer secure and efficient authentication solutions offer another layer of protection to help community bankers rest easier.”

The program starts in January 2024 and will be followed by a second ICBA accelerator event for the year.

Article Topics

biometrics  |  cloud computing  |  data protection  |  data storage  |  GDPR  |  GlobalSecure  |  Trust Stamp