e-ore
3 years ago
AUID news today
CU NextGen Launches authID’s Identity Services to Credit Unions Nationwide
August 25 2021 - 08:00AM
GlobeNewswire Inc.
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As financial institutions look to strengthen and simplify identity verification and secure authentication, today, authID.ai (formerly Ipsidy) [Nasdaq:AUID], a leading provider of secure, mobile, biometric identity verification and authentication solutions, announced that CU NextGen has integrated with its Identity as a Service (IDaaS) platform. CU NextGen is a CUSO dedicated to delivering leading-edge and customizable technology and support to more than 40 credit unions across the United States, ensuring deeper and lasting relationships with employees, members, and communities.
Through this new partnership, CU NextGen has begun roll-out of authID’s identity services with its first credit union with plans for further expansion to additional credit unions across the United States. CU NextGen is leveraging authID’s biometric identity authentication solution to transform the way its credit union clients recognize their members—both digitally and in-person, with similar, consistent experiences.
“authID is committed to helping financial services companies combat identity fraud by knowing with biometric certainty who is transacting on their platform,” said Tom Thimot CEO of authID.ai. “authID’s solutions enable CU NextGen to deliver upon its promise of bringing the highest levels of identity assurance and providing frictionless experiences that now allow credit union members to verify identity whether in-branch or online with similar practices in either setting.”
CU NextGen selected the authID IDaaS platform to mitigate identity fraud and enhance the security of its credit unions’ banking platforms. The integration will enable CU NextGen to implement authID’s Proof™ to provide its credit unions with the basis of trusted identity for digital and in-person new customer onboarding events. Proof delivers seamless identity verification with quick, mobile identity document capture and tamper check, liveness confirmation and facial biometric matching of a selfie to the identity credential photo. Proof confirms the rightful owner of the document is present and applying for an account.
“We empower our clients to own their member and employee experiences, and one of the ways we have done that is by creating custom interfaces for new customer onboarding. Of course, the need for strong identity verification and secure authentication is critical to that process,” said Kent Zimmer, CEO of CU NextGen. “By adding authID’s biometric identity services to our platform, we can help our members reduce risk, deliver enhanced identity trust, and offer the seamless convenience of passwordless login for credit union members.”
CU NextGen will also look to deploy the full suite of services on authID’s IDaaS platform including AuthentifID™, authID’s FIDO2 strong customer authentication and passwordless login solution, and Verified™ its biometric multi-factor cloud-based authentication solution that can ensure seamless authentication by customers to a credit union’s online banking systems.
For further information about these exciting new solutions, please contact sales@authid.ai.
About authID.ai:
authID.ai (Ipsidy Inc.) (Nasdaq:AUID) (authID.ai). Recognise Your Customer™. Our mission is to eliminate all passwords, and to be the preferred global platform for biometric identity authentication. The authID.ai Identity as a Service (IDaaS) platform delivers a suite of biometric identity proofing and authentication solutions that establish security and trust in today’s digital world. Our vision is to enable every organization to “Recognise Your Customer” instantly, without friction or loss of privacy, powered by the most sophisticated biometric and artificial intelligence technologies. authID.ai is headquartered in the United States and has operating subsidiaries: MultiPay in Colombia, www.multipay.com.co; Cards Plus in South Africa, www.cardsplus.co.za; Ipsidy Enterprises in the U.K. and Ipsidy Perú S.A.C. Further information on authID.ai can be found at authID.ai or contact us at sales@authID.ai.
About CU NextGen
CU NextGen is the CUSO dedicated to bringing next-generation technology to credit unions, helping them improve the service delivered to their members, the daily experiences of their staff members, and the efficiency of their operations. CU NextGen is a partnership between Members Development Company, a consortium of nearly 70 large and future-focused credit unions, and ClaySys Technologies, a technology company with leading products in the no-code application development, robotic process automation (RPA), and artificial intelligence spaces. Using these technologies, CU NextGen has built several cutting-edge solutions, including the premier Member Relationship Management platform which includes CRM, RPA, Apps & Workflows, Knowledgebase, Chatbot, and Ticketing. Additional solutions include video banking and conversational AI, among others. CU NextGen builds on the work these two innovators have implemented within MDC’s collaborative network of progressive credit unions and represents our shared strategic initiative to deliver next-gen technology beyond the MDC network to credit unions across North America.
e-ore
3 years ago
AUID moving to NASDAQ today, and news:
"Hamilton Reserve Bank chose Temenos’ cloud-native core banking, payments, and digital banking technology to accelerate growth, automation, elastically scale and enhance efficiency
August 24, 2021 02:30 AM Eastern Daylight Time
GENEVA, Switzerland--(BUSINESS WIRE)--Temenos (www.temenos.com, SIX: TEMN), the banking software company, today announced that Hamilton Reserve Bank (www.hrbank.com, SWIFT: NIBTKNNE), a leading global bank with a worldwide presence has completed its end-to-end transformation with Temenos. The unmatched breadth of Temenos’ front-to-back banking technology will help Hamilton Reserve Bank provide its customers across 150 countries with secure same-day worldwide payments and instant customer account access 24/7. With Temenos, pre-integrated with Temenos MarketPlace provider authID.ai (authid.ai, NASDAQ: AUID), Hamilton Reserve Bank anticipates significant growth of its deposit base and wealth management services. The tight integration provides secure, accurate, and frictionless customer authentication experiences that allow automated customer e-onboarding within minutes while meeting the bank’s rigorous regulatory compliance requirements."
https://www.businesswire.com/news/home/20210823005508/en/Hamilton-Reserve-Bank-Completes-Temenos-End-to-End-Digital-Transformation
https://otce.finra.org/otce/dailyList?viewType=Deletions
e-ore
3 years ago
Updated Linkedin page for IDTYD
Long Beach, New York 607 followers
About us
authID.ai (formerly Ipsidy, Inc.) is a leading provider of secure, mobile, biometric identity proofing and authentication solutions delivered by an easy to integrate Identity as a Service (IDaaS) platform. Our mission is to eliminate all passwords and to be the preferred global platform for biometric identity authentication. Our vision is to enable every organization to “Recognise Your Customer” instantly, without friction or loss of privacy, powered by the most sophisticated biometric and artificial intelligence technologies.
authID is committed to expanding our AI capabilities, and enhance our IDaaS platform to deliver the highest levels of performance, speed, and accuracy along with reduced friction, increased security, and privacy for consumers. Our goal is to make authID the simplest and most comprehensive identity solution available, enabling our customers to effortlessly identify, activate, and authenticate new consumers globally through a single platform.
Website
https://www.authid.ai
Industries
Information Technology and Services
Company size
51-200 employees
Headquarters
Long Beach, New York
Type
Public Company
Founded
2011
Specialties
Biometrics, Multi-factor Authentication, idaas, identity verification, identity management platform, identityproofing, and biometric authentication
e-ore
3 years ago
Meaningful developments at IDTYD
1 for 30 reverse split effective today
"Highly successful management team with deep industry experience assumes executive leadership
New authID.ai company name and brand to best express our mission and strategic direction
Enhancement of the authID.ai biometric authentication platform with additional artificial intelligence
Strengthened and expanded Board of Directors
New headquarters and opening of an AI Center of Excellence in Denver, CO"
Denver, CO, June 14, 2021 (GLOBE NEWSWIRE) -- authID.ai (www.authid.ai) (formerly Ipsidy) [OTCQB:IDTYD], a leading provider of secure, mobile, biometric identity verification solutions delivered by an easy to integrate Identity as a Service (IDaaS) platform, today announced a series of significant strategic updates that will build on and augment the successes realized over the last year.
New Executive Leadership
“During the last 12 months, we have made strategic investments in our product, our channel partners, and our delivery model, all of which combined to establish our Company as a substantive player in identity authentication.” said Chairman Phillip Kumnick. “In preparation for the next stage of significant growth and opportunity, authID.ai is pleased to announce Tom Thimot as CEO, and Tripp Smith as President and CTO. Tom and Tripp will take the management reins from Philip Broenniman and me, allowing us both to focus on our roles on the Board of Directors”.
Tom Thimot joins authID.ai (“authID” or the “Company”) with a track record of spearheading significant growth at market-leading technology companies in the private and public realms. Tom brings decades of leadership experience working with technology organizations that have defined or redefined markets in the cloud computing industry with data analytics, machine learning, and micro service architectures. In his previous role as the CEO of fintech Socure, Tom led a strategic transformation that resulted in Socure becoming the unquestioned leader in Day Zero identity verification, with a unicorn valuation.
Tripp Smith has spent a career as a thought leader in data analytics, centered around technology vision, strategy, and product development working with hyper scale technology companies, including Facebook, Apple, and Uber. Previously Chief Technology Officer at Clarity Insights (now Accenture AI), where he worked with then CEO Tom Thimot, Tripp now brings his significant industry expertise to authID along with the vision and energy to propel the Company’s next phase of growth.
“Tripp and I are excited by the strength of the technology and expertise we see at authID,” said Tom Thimot, CEO of authiID.ai. “Indeed, we congratulate Phillip Kumnick and his entire team on setting a robust technological foundation and business pipeline that together serve as a springboard for significant future growth and opportunity. We look forward to our collaboration with Messrs. Kumnick and Broenniman, as they continue to provide leadership on the Board of Directors.”
Rebranding & New Headquarters
The Company is rebranding as authID.ai to best capture the vision Tom, Tripp, and the team have for the future of biometric authentication. Added new CEO Tom Thimot, “The authID name clearly and succinctly presents our identity, our intention, our mission. As an important coda to this rebranding, we soon will change the ticker of our publicly listed stock from “IDTY” to “AUID”. authID shares will begin trading under this new ticker on July 13th.”
To further position itself for success, authID will move its headquarters to and open an AI Center of Excellence in Denver, Colorado, offering a highly desirable quality of life for Company employees. Denver is one of the most exciting and fastest growing urban tech centers in the US, is centrally located, and provides a major airport hub for international travel.
Augmenting IDaaS Platform with AI
Our mission is to eliminate all passwords and to be the preferred global platform for biometric identity authentication. Our vision is to enable every organization to “Recognise Your Customer” instantly, without friction or loss of privacy, powered by the most sophisticated biometric and artificial intelligence technologies. And with an industry leading biometric identity as a service platform, the Company is firmly established in one of the largest and most rapidly expanding global markets. Now, by expanding our artificial intelligence capabilities, authID’s enhanced platform will be designed to deliver the highest levels of performance, speed, and accuracy along with reduced friction, increased security, and privacy for consumers. Our goal is to make authID the simplest and most comprehensive identity platform available, enabling our customers to effortlessly identify, activate, and authenticate consumers globally.
Expanded and Strengthened Board of Directors
AuthID is also announcing that five new members have joined Chairman Phillip Kumnick and Philip Broenniman on the Company’s Board of Directors. Bringing broad industry experience and a vast array of professional talents, the new Directors will provide guidance, support, and oversight, working closely with the new leadership to fully realize the Company’s potential. The new members are:
CEO Tom Thimot
Dr. Michael Gorriz, Chief Information Officer of Standard Chartered Bank
Michael Koehneman, recently Global Advisory Chief Operating Officer at PricewaterhouseCoopers (PwC)
Sanjay Puri, Managing Director at Progress Partners
Jacqueline White, President, Americas at Temenos.
Said authID.ai Chairman Phillip Kumnick, “I would like to welcome our new board members and express how excited I am to work with them along with our new executive team to realize an exciting future at authID. I also want to thank Theodore Stern and Herbert Selzer for their years of service and invaluable contributions to the Board. Finally, I would like to offer a special note of appreciation to our founder Thomas Szoke, who will remain in his company role as Chief Solutions Architect, even as he retires from the Board.”
authID.ai will shortly issue a press release to further introduce the new board members to Company shareholders and stakeholders
https://www.globenewswire.com/news-release/2021/06/14/2246481/0/en/Ipsidy-Rebrands-as-authID-ai-Announces-New-Executive-Leadership.html
Impressive bio of new CEO, from his linked in page:
"Tom Thimot specializes in scaling companies. Tom currently serves as the CEO of publicly traded AuthID.ai where the company mission is to eliminate all passwords and to be the preferred global platform for biometric identity authentication. In his career, he has served as the CEO for two publicly traded companies, two venture backed firms and one private equity backed organization. Tom always has a steady hand regardless of macro economic uncertainty -- whether a dotcom bust, great recession or pandemic.
With decades of leadership experience working with technology organizations that have defined or redefined markets in the cloud computing industry through data analytics, machine learning and micro service architectures, Tom has successfully led five different fundraising initiatives totaling more than $100 million in private equity and venture capital markets, with each fundraise more than doubling the previous valuation. Over the years, he has led both buy-side and sell-side M&A exercises that yielded top-of-fund performance for his investors.
Often referred to as the Pivot CEO, Tom is passionate about perfecting the balance between financial performance and workplace culture.
In his previous role as the CEO of fintech Socure, Tom increased new enterprise customers five-fold and raised $65 million of new capital. During his tenure, Socure was recognized by Forbes as one of America’s Best Startup Employers, listed on Inc. Magazine’s “Best Workplaces,” and named as one of the “Best Places to Work” by Built In NYC.
Having consistently delivered top of class revenue growth and margin expansion in both expansive and recessive economies, Tom’s business experience spans six continents with high tech leaders based in Silicon Valley, New York City, India, and around the globe. He says the “true test of your passion for an idea is whether you wake up before the alarm clock goes off. If you are hitting the snooze button, it is time to pivot.”
Specialties: Leadership of disruptive service offerings in machine learning, big data analytics, software as a service, digital identity, public cloud, mobility, IoT and social computing that defines a market. Ability to differentiate software products to find the "knee in the curve" and grow faster than the status quo. Hands on experience recruiting top management talent, defining strategy, running operations, and re-defining markets. Expertise in highly regulated industries that require strict adherence to consumer PII regulations, evolving privacy laws and critical cyber security protocols."
e-ore
7 years ago
IDGS 10q out, accompanied by a news release with some details on new products that aren't in the 10q. New stuff sounds interesting. Nice that they cleaned up the balance sheet but they did it by issuing shares at various prices, most around .10. The biggest problem I see here (other than the huge o/s of Outstanding at October 31, 2017 364,320,216 shares) is the lack of cash to implement these new things. Tells me another round of financing is in the works, probably for $millions. Will be interesting to see if they can do that without issuing another 100,000,000 shares. If they do issue shares I would think it would have to be at a price considerably lower than today's close. Without meaningful revenue I don't see how they can raise money otherwise since there's no authorized preferred stock. Curtains if they go the toxic financing route. I had purchased some at .105 on 10/27. Out with all end of day today at .145. With a reverse split pending I decided to bank the profits. Time will tell if I'm smart, dumb, or somewhere in the middle :)
The news release:
Ipsidy Announces Results for Third Quarter 2017
LONG BEACH, New York,, Nov. 13, 2017 /PRNewswire/ -- Ipsidy Inc. (OTC: IDGS) (www.ipsidy.com) (formerly known as ID Global Solutions Corporation), a provider of secure, biometric identification, identity management and electronic transaction processing services, today announced its results for the quarter ended September 30, 2017.
Financial Highlights for the Three and Nine Months Ended September 30, 2017
? Total revenue for the three and nine month periods was $0.6 million and $1.8 million respectively compared to $0.6 million and $1.4 million respectively for the three and nine months in 2016.
? Net loss for the three and nine months was $2.1 million and $14.6 million respectively compared to a net loss in the third quarter of 2016 of $4.3 million and net income of $2.5 million in the first nine months of 2016. In 2016, the derivative liability gave rise to a charge of $1.6 million in the third quarter and a benefit of $16.1 million in the nine months ended September 30, 2016. (The derivative liability was eliminated in the first quarter of 2017.)
? Basic net loss per share for the three and nine months in 2017 was $0.01 and $0.04 cents respectively compared to basic net loss per share of $0.02 cents in the quarter ended September 30, 2016 and net income per share of $0.01 for the nine months in 2016. Fully diluted net loss per share in the three and nine months ended September 30, 2107 was $0.01 and $0.04 respectively and in the three and nine months ended September 30, 2106 was $0.02 and $0.04 cents respectively.
? Adjusted EBITDA loss for the three and nine months in 2017 was $1.2 million and $4.1 million respectively compared to $0.9 million and $3.0 million respectively in 2016.
? Total liabilities reduced to $4.3 million as of September 30, 2017, compared to liabilities of $25.8 million as of December 31, 2016, and stockholders' equity increased to $10.5 million as of September 30, 2017, compared to a stockholders' deficit of $13.3 million as of December 31, 2016.
The combination of the above events resulted in the substantial improvement in the Company's balance sheet and provided near-term working capital. Refer to Table 1 for reconciliation of net income to Adjusted EBITDA (a non-GAAP measure).
Operational Highlights
The Company continued to make progress on the development of its identity transaction platform to support both IdLok™ and mobile payment ecosystem pilots across several vertical and geographical markets:
In August 2017, the Company initiated a soft pilot program with a United States financial institution using IdLok to provide enhanced credit card security.
In September 2017, the Company signed a distributor agreement with a Brazilian software firm to market IdLok to its customer portfolio for managing identity authentication for a building's residents and visitors, verifying callers to contact centers and securing digital access and payment transactions for financial services companies.
Also in September 2017, the Company signed a term sheet to provide a closed loop fuel card with a distributor in South Africa and is working towards the launch of the pilot.
In October 2017, the Company began a three-month pilot with a major commercial real estate operator in the United States providing identity authentication for physical access control using IdLok. The operator's employees, contractors and visitors utilize the Idlok mobile-phone application in conjunction with a proximity beacon to enter corporate offices for which they have been authorized.
"Ipsidy is moving from planning and development to execution and rollout of its new suite of products," said Philip Beck, Chairman and Chief Executive Officer of Ipsidy. "We are starting to work with a number of customers on pilot programs, which are focused on proof of concept, with a view to moving into commercial production, once pilots have successfully concluded."
In order to align its public persona in the financial markets with its new branding and marketing strategy, the Company is in the process of updating its ticker symbol and expects to make a formal announcement of this change in the coming days.
Additional analysis of the Company's performance can be found in "Management's Discussion and Analysis of Financial Condition and Results of Operations" included in the Quarterly Report on Form 10-Q for the Quarter ended September 30, 2017 filed at www.sec.gov and posted on the Company's investor relations website.
About Ipsidy:
Ipsidy is a provider of secure, biometric identification, identity management and electronic transaction processing services. Ipsidy is headquartered in New York and has operating subsidiaries: MultiPay in Colombia www.multipay.com.co and Cards Plus in South Africa. www.cardsplus.co.za. In a world that is increasingly digital and mobile, our vision is to enable solutions that provide pre-transaction verification of identity as well as embed identity verification within every electronic transaction message processed through our platform, or other electronic systems. We believe that it is essential that businesses and consumers know who is on the other side of an electronic transaction and have an audit trail, proving that the identity of the other party was duly verified. We are therefore developing solutions intended to provide our customers with the next level of transaction security, control and certainty for everyday transactions. Further information on Ipsidy can be found at www.ipsidy.com or contact us at sales@ipsidy.com.
http://www.otcmarkets.com/stock/IDGS/news
http://archive.fast-edgar.com//20171113/APKGQ22CJ222DJZZ222M2ZZGBOKGZ222Z292/
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