Trust Stamp, the Privacy-First Identity Company providing AI-powered trust and identity services used globally across multiple sectors, announces that on August 10, 2023 it received an Issue Notification from the United States Patent Office in respect of Patent # 11,741,263 entitled “Systems and Processes for Lossy Biometric Representation”. This patent will be the seventeenth issued to the company in addition to which the company has an additional fourteen patent applications pending, including one patent that has been approved but not yet issued.

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Dr. Norman Poh, Chief Science Officer of the Company commented, “This patent further strengthens our intellectual property portfolio related to the tokenization of biometric data. Regulators, consumers and enterprises are becoming very aware of the risks associated with storing biometric images and templates and our proprietary tokenization technology avoids those risks while maintaining and indeed extending the utility of the data that is stored. This technology can be utilized as a component of our comprehensive identity validation services or overlaid on legacy biometric service providers.”

On August 1, 2023, Andrew Gowasack, President of Trust Stamp announced a 31% increase in the Company’s financial services customer base in the prior six-month period.

Trust Stamp will release its financial results for the second quarter of 2023, together with an overview of its business performance and strategy on August 14th, 2023.

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