Trust Stamp signs MoU with the African Institute for Mathematical Sciences
May 10 2022 - 7:00AM
Trust Stamp (Nasdaq: IDAI, Euronext Growth: AIID ID), the
Privacy-First Identity CompanyTM, announces that it has signed a
Memorandum of Understanding (the “MoU”) with the African Institute
for Mathematical Sciences, Kigali, Rwanda (“AIMS”), underlining a
mutual desire for institutional cooperation with a focus on
education and research aimed to further equity and inclusion for
individuals of all races and ethnologies through advancements in
biometrics and identity authentication.
AIMS is Africa’s first and largest network of
Centres of Excellence for innovative post-graduate training in
mathematical sciences, with locations across five countries. The
organization promotes increased collaboration between the public
and private sector to prioritize STEM education in Africa as it
leads the continent’s socio-economic transformation through
innovative scientific training, technological advancement, and
public engagement.
The MoU highlights a shared motivation to
further research in identifying and addressing systemic inequities
resulting from race and ethnicity-based discrepancies in the
performance of biometric systems. Trust Stamp and AIMS will partner
in developing and implementing courses to extend graduate studies
programs focused on big data analytics and biometrics, sharing
academic research, and jointly exploring national and international
funding opportunities to support cooperative agreements.
Raman Narayanswamy, Chief Innovation
Officer of Trust Stamp, comments, “This institutional
cooperation between Trust Stamp and AIMS marks an important
milestone in our long-standing commitment to universal financial
inclusion. Empirical evidence shows an ongoing need in the
biometrics industry for research and investment into machine
learning algorithms with a focus on demographically diverse
populations. Addressing this multifaceted issue is critical to the
development of a robust digital infrastructure in Africa while
posing wide-reaching implications for equity and inclusion around
the world.
Trust Stamp looks forward to working with AIMS
to further identify and mitigate biases in artificial intelligence
models that affect accuracy and performance of biometric
technologies across different demographic groups as we continue
innovating and delivering accurate, user-centric, and responsible
identity solutions that address global needs.”
Trust Stamp established its Rwandan subsidiary in 2021, which
currently employs 16 people out of its Kigali office. The Company
is actively hiring to double the team as it works to expand
strategic partnerships and research initiatives.
Enquiries
Trust Stamp
Email: Shareholders@truststamp.ai
Gareth Genner, Chief Executive
Officer
Nisha Naik, Executive VP of Communications
Davy (Euronext Growth
Advisor)
Tel: +353 1 679 6363
Barry Murphy
Investor
Relations
Tel: +1 212-671-1021
Crescendo
Communications
Email: idai@crescendo-ir.com
About Trust Stamp
Trust Stamp, the Privacy-First Identity CompanyTM, 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 empowers organizations with advanced biometric
identity solutions that reduce fraud, protect personal data
privacy, increase operational efficiency, and reach a broader base
of users worldwide through its unique data transformation and
comparison capabilities.
Located in seven countries across North America, Europe, Asia,
and Africa, Trust Stamp trades on the Nasdaq Capital Market
(Nasdaq: IDAI) and Euronext Growth in Dublin (Euronext Growth: AIID
ID). Founded in 2016 by Gareth Genner and Andrew Gowasack, the
company now employs over 100 people.
Safe Harbor Statement: Caution Concerning
Forward-Looking Remarks
All statements in this release that are not based on historical
fact are “forward-looking statements” including within the meaning
of the Private Securities Litigation Reform Act of 1995 and the
provisions of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. The information in this announcement may contain
forward-looking statements and information related to, among other
things, the company, its business plan and strategy, and its
industry. These statements reflect management’s current views with
respect to future events based on information currently available
and are subject to risks and uncertainties that could cause the
company’s actual results to differ materially from those contained
in the forward-looking statements. Investors are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date on which they are made. The company does
not undertake any obligation to revise or update these
forward-looking statements to reflect events or circumstances after
such date or to reflect the occurrence of unanticipated
events.
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