T Stamp Inc (NASDAQ:IDAI, EURONEXT:AIID), doing business as Trust Stamp, has announced a tie-up with Simunix, a company which makes UK people, business, and address data available for search and analysis.
The partnership will provide Simunix customers access to the company's biometric and optical character recognition (OCR) solutions.
Trust Stamp’s privacy-first identity technology has been added to Simunix's Age Verify and T2A people and address verification offerings.
"We are pleased to partner with Trust Stamp for our age and identity verification products," said Colin Frith, the head of business development for Simunix in a statement.
"The addition of their OCR and biometric technology to our existing data solution will result in a more robust verification service offering for our customers."
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Meanwhile, Andrew Gowasack, president and co-founder of Trust Stamp, added: "With so much stolen identity data readily available to criminals, establishing users’ identity is increasingly challenging.
"Simunix is a well-respected provider of data and people solutions, and we are excited to partner with them to bring this unique biometric authentication capability to their customers."
Trust Stamp noted that the global biometric system market is projected to grow to US$68.6 billion by 2025 from US$36.6 billion in 2020 as demand for solutions is increasing in public and private sectors, including financial services, cryptocurrencies, travel and hospitality.
Trust Stamp is a global provider of AI-powered identity services for use in multiple sectors, including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services.
Its technology can reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader base of users worldwide.
Located in nine countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market.
Contact the writer at giles@proactiveinvestors.com