Trust Stamp (NASDAQ:IDAI, EURONEXT:AIID) Inc has announced a partnership with VIVA Finance, a mobile-first FinTech lending platform driving financial inclusion through its unique approach to affordable credit.
With a shared core focus on financial inclusion, Trust Stamp (NASDAQ:IDAI, EURONEXT:AIID) said it and VIVA are leveraging their innovative solutions together to support robust, accessible, and equitable financial systems as the foundation for global inclusion.
VIVA empowers individuals with thin credit histories to establish the framework for long-term financial health by transforming access to affordable credit with loans underwritten by employment history rather than credit score.
READ: Trust Stamp launches new end-to-end identity orchestration platform
"Trust Stamp's vision for global inclusion has driven our work to provide secure, privacy-first identity solutions for the billions of people around the world whose lack of verifiable data prevents them from accessing financial services,” said Trust Stamp Chief Commercial Officer Kinny Chan in a statement.
"VIVA's transformative work highlights the need for equitable services and greater consumer choice even in highly developed economies. The integration of Trust Stamp's secure, equitable, and dignified solutions for establishing trust is an important factor in the multifaceted effort to empower all individuals with financial opportunity. We are thrilled to work with the VIVA team as we continue fostering mission-aligned partnerships to expand the reach and impact of Trust Stamp's powerful identity solutions."
VIVA’s technology serves thousands of working Americans who are traditionally met with opaque and often predatory financial products. Traditional customer risk assessment procedures can be intrusive, expensive, and establish a narrow view of trust.
VIVA CEO Jack Markwalter added: "We are thrilled to partner with Trust Stamp to further our mission of building an inclusive financial system. This partnership will allow us to prevent bad actors from utilizing our application in a way that does not adversely affect honest people who may have thin credit files or no prior credit history."
Trust Stamp's proven facial biometric verification, document validation, and data-protection methodologies use advanced artificial intelligence to enhance risk management measures while serving a greater population of users.
The company's privacy-first tokenization technology maintains the utility of identity data while protecting information security within compliance processes, amplifying what consumers are able to access using their identity.
In combining their innovations, Trust Stamp said both companies are working to provide underserved individuals with an entry point to participate in the digital-first future of finance, breaking the barrier to achieving societal and financial inclusion.
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