Proactiveinvestors USA & Canada Ipsidy Inc https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Ipsidy Inc RSS feed en Sat, 25 May 2019 04:17:09 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Biometric security company Ipsidy reports 41% increase in 1Q revenue ]]> https://www.proactiveinvestors.com/companies/news/219827/biometric-security-company-ipsidy-reports-41-increase-in-1q-revenue-219827.html Ipsidy Inc (OTCMKTS:IDTY) announced first-quarter results Tuesday, reporting a 41% increase in revenue compared with the same quarter last year.

The Long Beach, New York-based biometric security specialist said first-quarter revenue rose to $700,000 from $500,000 in the prior-year quarter.

The company said it broke even, reporting a basic and diluted net loss per share $0.00, compared to a loss of $0.01 in the year-ago quarter.

READ: Ipsidy's Access solution helps Peru's Boxer Security SA to verify employee location and attendance

Ipsidy also said it experienced a net loss before taxes of $2.2 million, which represents an 18% decrease when the company lost $2.7 million during the first quarter of 2018.

The company in a statement said it is moving with the marketing of at least five proprietary platforms, including facial biometric extraction technologies to use by merchants, financial institutions and schools, among others.

“We look forward to more customers and users and to growing our platform revenue over the year as we focus in on our active sales pipeline," said CEO Philip Beck.

Ipsidy has been making a big push into international markets and is now branching into Peru and Chile.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

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Tue, 07 May 2019 16:28:00 -0400 https://www.proactiveinvestors.com/companies/news/219827/biometric-security-company-ipsidy-reports-41-increase-in-1q-revenue-219827.html
<![CDATA[Media files - Ipsidy forms multiple partnerships in Latin America ]]> https://www.proactiveinvestors.com/companies/stocktube/13163/ipsidy-forms-multiple-partnerships-in-latin-america-13163.html Tue, 30 Apr 2019 16:09:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13163/ipsidy-forms-multiple-partnerships-in-latin-america-13163.html <![CDATA[News - Ipsidy's Access solution helps Peru's Boxer Security SA to verify employee location and attendance ]]> https://www.proactiveinvestors.com/companies/news/219287/ipsidy-s-access-solution-helps-peru-s-boxer-security-sa-to-verify-employee-location-and-attendance-219287.html Ipsidy Inc (OTCMKTS:IDTY), the biometric security specialist, announced Monday that Lima, Peru-based security services provider Boxer Security SA will channel Ipsidy's Access solution to verify employee location and attendance in the company’s far-flung operations in the South American country.

Boxer Security SA was founded 40 years ago and services 500 clients. It offers protection services to companies and transport fleets, as well as control center operations, aiding with asset monitoring, perimeter patrol, and alarm-based security systems.

Ipsidy’s flagship Access solution is a program that protects the perimeters of buildings or public events using just a tablet and a Bluetooth beacon. Thanks to an agreement with Ayonix Face Technologies, Access is able to adopt the speed and detection capabilities of Ayonix’s 3D facial recognition technology.

READ: Ipsidy strikes partnership with Mobile Solutions Peru to widen business to include Peru and Chile

According to Ipsidy, Access will allow Boxer to “track with biometric certainty” the arrival and departure of guards and other employees at various Boxer client sites across Peru.

“With a quick blink and a smile, each employee will confirm their identity and attendance in Ipsidy's mobile application,” said the company in a statement. Ipsidy will capture the app's geo-location data, validate the photo's live nature, and match it against the employee's reference template, stored in Ipsidy's secure platform.

Biometric identity solution

"We are excited to integrate Ipsidy's biometric identity solution to strengthen security and simplify time and attendance,” said Eduardo Gaviria of Boxer Security SA. “We believe Access will allow us to simplify and improve security processes and overall employee and customer experience."

Headquartered in Long Beach, New York, Ipsidy has been making a big push into international markets and is now branching into Peru and Chile.

"Ipsidy is happy to have Boxer use our Access solution to enhance their operations in Peru," said Ipsidy CEO Philip Beck. "Together we will implement the highest level of biometric security, control, and certainty for everyday transactions."

Ipsidy operates an Identity as a Service (IDaaS) platform that delivers a suite of biometric identity security programs. Its subsidiaries outside the US include MultiPay in Colombia, Cards Plus in South Africa and Ipsidy Enterprises in the UK.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Mon, 29 Apr 2019 10:32:00 -0400 https://www.proactiveinvestors.com/companies/news/219287/ipsidy-s-access-solution-helps-peru-s-boxer-security-sa-to-verify-employee-location-and-attendance-219287.html
<![CDATA[News - Ipsidy strikes partnership with Mobile Solutions Peru to widen business to include Peru and Chile ]]> https://www.proactiveinvestors.com/companies/news/219190/ipsidy-strikes-partnership-with-mobile-solutions-peru-to-widen-business-to-include-peru-and-chile-219190.html Ipsidy Inc (OTCMKTS:IDTY), the biometric security specialist, is branching into Peru and Chile after signing an agreement with Mobile Solutions Peru, a GPS solutions provider in Latin America.

As part of the deal, Mobile Solutions Peru will offer Ipsidy’s suite of biometric identity and authentication products across Peru and Chile.

In a statement, Philip Beck, CEO of Ipsidy, said: "Ipsidy is pleased to partner with Mobile Solutions Peru to resell our services in Peru and Chile. Together we will offer mobile biometric identity solutions that provide the highest level of security, control and certainty for everyday transactions."

READ: Ipsidy sees revenue climb in 2018 thanks to sales of biometric security products

Among the Ipsidy products that will be on offer in the two Latin American countries are Access, a program which protects the perimeters of buildings or public events using just a tablet and a Bluetooth beacon, as well as Verified, which authenticates account access requests as well as business transactions using biometric technology on mobile devices.

In addition to its Verified and Access programs, Ipsidy has developed Proof, a remote identity proofing solution that uses government-issued credentials combined with real-time biometrics.

Another of its offerings that will be available in Peru and Chile is Transact, a cloud-based mobile payment gateway that allows for the design of customer loyalty programs and supports networks of agents, merchants and consumers who can accept and perform transactions using closed-loop payment cards.

Mobile Solutions Peru focuses on offering digital mobile solutions to clients in Peru, Chile and Argentina.

Headquartered in Long Beach, New York, Ipsidy operates an Identity as a Service (IDaaS) platform that delivers a suite of biometric identity security programs. Its subsidiaries outside the US include MultiPay in Colombia, Cards Plus in South Africa and Ipsidy Enterprises in the UK.

Ipsidy shares traded 7% higher to hit US$0.13 on Friday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com 

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Fri, 26 Apr 2019 09:00:00 -0400 https://www.proactiveinvestors.com/companies/news/219190/ipsidy-strikes-partnership-with-mobile-solutions-peru-to-widen-business-to-include-peru-and-chile-219190.html
<![CDATA[News - Ipsidy, RemoteLock unlock doors, Wifi smart locks with mobile facial authentication ]]> https://www.proactiveinvestors.com/companies/news/218338/ipsidy-remotelock-unlock-doors-wifi-smart-locks-with-mobile-facial-authentication-218338.html Ipsidy Inc (OTCMKTS:IDTY) said Wednesday that its Access facial biometric solution will be used by RemoteLock Inc to authenticate permitted users and allow them to open Wifi smart locks.

The Long Beach, New York company’s Access, a biometric tracking program protects the perimeters of buildings or public events using just a tablet and a Bluetooth beacon. Thanks to an agreement with Ayonix Face Technologies, Access is able to adopt the speed and detection capabilities of Ayonix’s 3D facial recognition technology.

Ipsidy and RemoteLock are “integrating their cloud platforms” to allow for any person seeking to open doors powered by the RemoteLock EdgeState cloud platform to first be authenticated using Ipsidy’s mobile biometric application, before RemoteLock enables access.

READ: Ipsidy burnishes reputation as top player in biometric tracking

“Ipsidy is pleased to partner with RemoteLock to create the next generation of cloud-based facial biometric access management solutions,” said Ipsidy Inc CEO Philip Beck. “Security resellers and integrators can offer the combined solution that provides the security, control and certainty for physical access management, that is cost effective for their clients and easy to deploy and use.”

How the technology works

From single-door solutions to multi-door access control systems, property owners and managers can leverage the power of cloud-based facial biometrics on a smartphone to open doors. As a result, authorized employees and residents can easily enter buildings with wireless locks without having to offer up identification

Property owners can have employees, visitors, or guests use facial biometrics on the Ipsidy mobile application to access their offices, apartments, houses, campuses, or other buildings.

Ipsidy’s Access solution uses smartphones and Bluetooth beacons mounted at access points to automatically and seamlessly initiate the facial biometric authentication of the person arriving at a door.

When Ipsidy Access confirms to RemoteLock EdgeState that the person at the door is authorized to enter the property, the door is unlocked.

Optional Proof verification

This year, Ipsidy added to its repertoire again, with the unveiling of Proof, a mobile identity proofing system.

The program uses government-issued credentials and biometrics to provide remote mobile biometric ID verification as well as transaction authentication for businesses.

Ipsidy has seen the market for its proprietary biometric technology explode as companies push towards boosting security.

“We are delighted to be working with Ipsidy to broaden our platform capabilities by including their secure facial biometric solutions,” said RemoteLock Inc CEO Nolan Mondrow. “We have a common mission to provide global, scalable and secure cloud-based lock solutions for our customers.”

The companies will launch the combined solution in mid-2019.

Meanwhile, Ipsidy is exhibiting at the two-day International Security Conference and Exposition starting on Wednesday and RemoteLock will join Ipsidy in showcasing the new smart lock solution.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Wed, 10 Apr 2019 10:01:00 -0400 https://www.proactiveinvestors.com/companies/news/218338/ipsidy-remotelock-unlock-doors-wifi-smart-locks-with-mobile-facial-authentication-218338.html
<![CDATA[News - Ipsidy signs Noftek as a reseller of its biometric identity solutions ]]> https://www.proactiveinvestors.com/companies/news/217161/ipsidy-signs-noftek-as-a-reseller-of-its-biometric-identity-solutions-217161.html Ipsidy Inc (OTCMKTS:IDTY) announced Monday that it has signed Noftek LLC as a reseller of its biometric identity products, initially in the British Virgin Islands.

The Identity as a Service (IDaaS) company sells mobile biometric technology to reduce fraud, minimize risk and protect personal data in digital and physical transactions. Customers include governments, enterprises, membership organization and religious groups.

Shares of Long Beach, New York-based Ipsidy climbed 2.1%, to $0.10 in Monday’s late-afternoon OTC Markets trading.

READ: Ipsidy sees revenue climb in 2018 thanks to sales of biometric security products

Noftek, based in Atlanta and also operating in the Caribbean, helps companies adopt security practices in the areas of data protection and backup, compliance and risk mitigation.

The company will initially focus on selling Verified, Ipsidy's mobile biometric authentication product.

"Ipsidy is excited to have Noftek join the Ipsidy Partner Network and help us expand into the Caribbean," James Tuffery, director of identity at Ipsidy, said in a statement. "We believe that our entry into this energetic and vibrant market through our partnership with Noftek is a significant opportunity for Ipsidy.”

Noftek Managing Partner Letson Jackson added that “we are delighted to add Ipsidy's biometric authentication solutions to our portfolio.".

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Mon, 25 Mar 2019 15:07:00 -0400 https://www.proactiveinvestors.com/companies/news/217161/ipsidy-signs-noftek-as-a-reseller-of-its-biometric-identity-solutions-217161.html
<![CDATA[News - Ipsidy burnishes reputation as top player in biometric tracking ]]> https://www.proactiveinvestors.com/companies/news/216879/ipsidy-burnishes-reputation-as-top-player-in-biometric-tracking-216879.html __________________________________________________________________________________________________________________________________________________________________

What Ipsidy does

Founded in 2011 as ID Global Solutions Corp, CEO Philip Beck and chief financial officer Stu Stoller came on board in 2017 and re-imagined the company as Ipsidy – a play on the Latin word “ipse”, which means self. Together with the original founder Tom Szoke and his team, the group has built a suite of new authentication products around its core of existing applications.

The company’s business was the legacy of its roots as ID Global Solutions, which provides biometric fingerprint-matching technology for the US Transportation Safety Administration. It has also been used to verify voter rolls for national elections including Zambia and Guinea,and was also selected in a competitive tender for Zimbabwe.

The acquisitions of MultiPay in 2015 and CardsPlus in 2017 bolted on transactional routing and credentialing products. In Colombia, its technology refills bus transit cards and provides transaction processing for electronic money transfers and bill payments for the country’s postal service.

Ipsidy has seen the market for its proprietary biometric technology explode after the hacks of Equifax Inc. (HD:Efx), Target Corp. (NYSE:TGT) and Home Depot (NYSE:HD).

On its list of achievements is the rollout of its program Verified, which allows a business to authenticate the identity of a customer from the convenience of a smart phone.

The Long Beach, New York company has also launched Access, a biometric tracking program which protects the perimeters of buildings or public events using just a tablet and a Bluetooth beacon.  Thanks to an agreement with Ayonix Face Technologies, Access is able to adopt the speed and detection capabilities of Ayonix’s 3D facial recognition technology.

This year, Ipsidy added to its repertoire again, with the unveiling of Proof, a mobile identity proofing system.

The program uses government-issued credentials and biometrics to provide remote mobile biometric ID verification as well as transaction authentication for businesses.

“Proof is a way of digitally onboarding new customers,” explains Beck. “Traditionally, it’s used for high value transactions and being able to prove somebody’s identity. It involves taking the information off of the chip of a passport or scanning a national identity card and then biometrically matching the signed biometric images against the image that’s captured and sending that information with a score to the customer.”

Lastly, another of the New York company’s offerings is Transact, a mobile payments authorization network.

How is it doing?

Ipsidy’s sales are on the ascent, with revenue climbing to $3.8 million in 2018, from $2.3 million in 2017. Last year, Ipsidy also secured about $9.6 million of additional equity investment and its cash position nudged up to $4.97 million at December 2018’s close from $4.41 million in the year-ago period.

Separately, Ipsidy has added to its engineering, quality assurance, operations and sales and marketing teams. It has also signed additional resellers to market its Access and Verified programs in the US, the Caribbean and Peru.

What the boss says

"We have made tremendous strides over the course of 2018. We are firmly on the road towards achieving our strategic objectives," says Beck. "Our identity platform offers a suite of mobile biometric services that our customers can use across multiple use cases to seamlessly create trusted transactions, with a common user experience when delivered through the Ipsidy mobile identity application. We look forward to more customers and users and to growing our platform revenue over the coming quarters."

Contact Ellen Kelleher at ellen@proactiveinvestors.com

 

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Wed, 20 Mar 2019 09:18:00 -0400 https://www.proactiveinvestors.com/companies/news/216879/ipsidy-burnishes-reputation-as-top-player-in-biometric-tracking-216879.html
<![CDATA[Media files - Ipsidy updates on roll-outs of its suite of biometric solutions ]]> https://www.proactiveinvestors.com/companies/stocktube/12603/ipsidy-updates-on-roll-outs-of-its-suite-of-biometric-solutions-12603.html Thu, 14 Mar 2019 15:42:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12603/ipsidy-updates-on-roll-outs-of-its-suite-of-biometric-solutions-12603.html <![CDATA[News - Ipsidy partners with REMCAP to offer security program Access at religious organizations ]]> https://www.proactiveinvestors.com/companies/news/216306/ipsidy-partners-with-remcap-to-offer-security-program-access-at-religious-organizations-216306.html Ipsidy Inc (OTCQX:IDTY) has teamed up with REMCAP LLC, a provider of payment and support services for religious institutions, schools and non-profits organisations, to offer Access, its new biometric security system.

Using just a tablet and a Bluetooth beacon, Access offers protection for buildings or public events by monitoring the identities of people entering a defined area.

 

Before giving the green light and allowing access, a site attendant using the security program can check on everyone looking to enter the location and see names and pictures biometrically authenticated on a mobile tablet.

READ: Ipsidy sees revenue climb in 2018 thanks to sales of biometric security products

The move by REMCAP to introduce Access comes after 11 people were shot to death while worshipping at a synagogue in Pittsburgh last year.

"We are delighted to be working with REMCAP to launch our offering of Access for faith-based communities," added Philip Beck, CEO of Ipsidy Inc in a statement. "In these uncertain times, religious organizations of all denominations, as well as schools and community centers, need to be able to trust who is coming into their facilities and identity is the essence of trust."

Access is digital and paperless and requires no integration of systems or costly hardware.

Access can be used at early childhood programs and by schools and camps whose staff are looking to authorize who can collect children. Synagogues and churches can also use the security system to promote and provide reminders of upcoming events by distributing electronic passes to attendees.

READ: Ipsidy shares climb after announcing mobile proof-of-identity solution using biometrics

REMCAP has been working with faith-based organizations for nearly a decade, providing them with payment processing and business and management support services.

Bruce Gold, managing member at REMCAP, said he planned to introduce Access to faith-based communities throughout the country.

“Access can be tailored to meet each organization's needs and religious observances, whether for daily access, major services, or special events,” Gold said in a statement. “Importantly in an era of heightened awareness of best security practices, nursery schools, Hebrew schools and camps can use Access to know with biometric certainty who can pick up each child and maintain an audit record of who did pick them up."

Headquartered in Long Beach, New York, Ipsidy operates an Identity as a Service (IDaaS) platform that delivers a suite of biometric identity security programs. Its operating subsidiaries outside the US include MultiPay in Colombia, Cards Plus in South Africa and Ipsidy Enterprises in the UK. 

Ipsidy shares held steady at $0.10 on Tuesday morning in New York.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Tue, 12 Mar 2019 10:30:00 -0400 https://www.proactiveinvestors.com/companies/news/216306/ipsidy-partners-with-remcap-to-offer-security-program-access-at-religious-organizations-216306.html
<![CDATA[News - Ipsidy sees revenue climb in 2018 thanks to sales of biometric security products ]]> https://www.proactiveinvestors.com/companies/news/216196/ipsidy-sees-revenue-climb-in-2018-thanks-to-sales-of-biometric-security-products-216196.html Ipsidy Inc (OTCQX:IDTY), the biometric security specialist, saw its revenue jump in 2018 as it moved ahead with sales of its suite of biometric security products.

On its list of achievements last year was the rollout of its security program Verified, which authenticates account access requests as well as business transactions using biometric technology on mobile devices, in Panama with Datapro and Unibank.

 

This biometric multi-factor authentication system was integrated into Datapro’s e-IBS core banking software, which makes it available to the more than 160 financial institutions in 31 countries who use Datapro’s hosted software.

READ: Ipsidy shares climb after announcing mobile proof-of-identity solution using biometrics

It also launched Access, a program which protects the perimeters of buildings or public events using just a tablet and a Bluetooth beacon.  Thanks to an agreement with Ayonix Face Technologies, Access, a mobile biometric tracking system, will adopt the high-speed performance and detection capabilities of Ayonix’s 3D facial recognition technology.

 

“We have made tremendous strides over the course of 2018. We are firmly on the road towards achieving our strategic objectives,” said Philip Beck, chairman and CEO of Ipsidy in a statement. “Our identity platform offers a suite of mobile biometric services that our customers can use across multiple use cases to seamlessly create trusted transactions, with a common user experience when delivered through the Ipsidy mobile identity application. We look forward to more customers and users and to growing our platform revenue over the coming quarters.”

Revenue climbs

Last year, Ipsidy’s revenue climbed to $3.8 million, up from $2.3 million in 2017. The company’s net loss also shrank to $10 million compared to a net loss of $17.5 million in 2017, when there was a negative impact of $4.1 million from the elimination of debt and modification of warrants.

Last year, Ipsidy also secured about $9.6 million of additional equity investment and prepaid $1.2 million of debt and interest. Its cash position also nudged up to $4.97 million at the close of last December from $4.41 million in the year-ago period.

Separately, Ipsidy has added to its engineering, quality assurance, operations and sales and marketing teams.

It has also signed additional resellers to market its Access and Verified programs in the US, the Caribbean and Peru.

READ: Ipsidy reports rise in 3Q revenue thanks to contract with the Zimbabwe Electoral Commission

In addition to its Verified and Access programs, Ipsidy has developed Proof, a remote identity proofing solution that uses government-issued credentials combined with real-time biometrics. Another of its offerings is Transact, a digital issuance, mobile payment and customer loyalty platform that supports networks of agents, merchants and consumers who can accept and perform transactions using closed-loop payment cards.

Headquartered in Long Beach, New York, Ipsidy operates an Identity as a Service (IDaaS) platform that delivers a suite of biometric identity security programs. Its subsidiaries outside the US include MultiPay in Colombia, Cards Plus in South Africa and Ipsidy Enterprises in the UK.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Mon, 11 Mar 2019 09:14:00 -0400 https://www.proactiveinvestors.com/companies/news/216196/ipsidy-sees-revenue-climb-in-2018-thanks-to-sales-of-biometric-security-products-216196.html
<![CDATA[News - Ipsidy shares climb after announcing mobile proof-of-identity solution using biometrics ]]> https://www.proactiveinvestors.com/companies/news/215566/ipsidy-shares-climb-after-announcing-mobile-proof-of-identity-solution-using-biometrics-215566.html Ipsidy Inc (OTCMKTS:IDTY) shares surged after announcing the launch of the Proof by Ipsidy mobile proof-of-identity device that uses government-issued credentials combined with real-time biometrics.

The Long Beach, New York, company said in a statement that the device provides remote mobile biometric identity verification and transaction authentication for all types of high-integrity business interactions with ”know your customer” requirements.

Shares of Ipsidy gained $0.03, or 31%, to $0.14 in Thursday’s OTC Markets trading immediately following the news.

READ: Ipsidy announces launch of its Verified portal system by South Africa's Xpressa Payment Solutions

Applications for Proof by Ipsidy Include financial transactions; application, enrollment and account-opening processes; new customer, remote employee and student on-boarding; sale of age-restricted products; and building access verification.

The company said Proof by Ipsidy allows clients to initiate a simple, two-step identity check from anywhere in the world in minutes by using Ipsidy's mobile app.

Ipsidy said Datapro, a developer of advanced software systems for financial institutions in Miami, will deploy the device to allow financial-services clients to confirm customers' identities.

"We are seeing an escalating demand from our financial services clients for a secure, digital customer onboarding solution," Datapro Chief Technology Officer Javier Montero said. "Ipsidy’s innovative digital identity authentication solutions provided us with a unique value proposition.”

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Thu, 28 Feb 2019 16:55:00 -0500 https://www.proactiveinvestors.com/companies/news/215566/ipsidy-shares-climb-after-announcing-mobile-proof-of-identity-solution-using-biometrics-215566.html
<![CDATA[Media files - Ipsidy deploys its Verified technology to South African payment processing company ]]> https://www.proactiveinvestors.com/companies/stocktube/12365/ipsidy-deploys-its-verified-technology-to-south-african-payment-processing-company-12365.html Tue, 26 Feb 2019 12:40:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/12365/ipsidy-deploys-its-verified-technology-to-south-african-payment-processing-company-12365.html <![CDATA[News - Ipsidy announces launch of its Verified portal system by South Africa's Xpressa Payment Solutions ]]> https://www.proactiveinvestors.com/companies/news/215341/ipsidy-announces-launch-of-its-verified-portal-system-by-south-africa-s-xpressa-payment-solutions-215341.html Biometrics specialist Ipsidy Inc (OTCQX:IDTY) said Tuesday that Xpressa Payment Solutions, a division of the South African tech company Safetrade Africa, has introduced its Verified Portal technology.

Xpressa Payment Solutions, a South African payment service provider, has implemented Ipsidy’s Verified program for its call center operations to allow for the quick identification of customers as well as the authorization of account profiles and bank account changes.

Ipsidy’s Verified portal allows a business to authenticate the identity of a customer from the convenience of a smart phone.

READ: Ipsidy and Ayonix to unveil new biometric security system using IP cameras and face-recognition technology

In other words, the way it works is that Xpressa employees login to the Verified portal to trigger an authentication request to a customer’s registered mobile phone. The customer, in turn, captures his ‘selfie’ in Ipsidy’s mobile application to authenticate his identity and approve business transactions. Ipsidy’s platform then converts the selfie into a biometric facial template that is matched against a reference template.

Since they started using Verified, Xpressa agents are verifying customers’ identities in just 20 to 30 seconds, whereas it previously took 60 to 90 seconds.

“Setting up the customer user profiles is a simple process allowing us to implement multiple customers onto the system in a very short time frame,” said Preyen Singh, operations manager for Xpressa. “Verified lets our agents authenticate the identity of the customer in a matter of seconds. This has helped us to reduce the amount of time spent on the call and improve our customer experience. We now get customer authorisation on any changes to their payment profile without the customer having to submit additional documentation.”

In a statement, Jonathan Ellis, managing director of Ipsidy, suggested the roll-out of additional products in South Africa is coming.

READ: Ipsidy unveils Access, a new cost-effective biometric monitoring system

“Ipsidy and Safetrade look forward to continuing to offer Ipsidy’s suite of innovative mobile biometric authentication solutions in South Africa and to improve other businesses’ daily operations by increasing productivity and enhancing security for everyday transactions with biometric identity,” Ellis said.

Safetrade Africa is a private South African tech company specializing in payment processing.

Headquartered in New York, Ipsidy is a provider of biometric identification, identity management and electronic transaction processing services. Its subsidiaries include MultiPay in Colombia, Cards Plus in South Africa and Ipsidy Enterprises in the UK.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

 

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Tue, 26 Feb 2019 09:20:00 -0500 https://www.proactiveinvestors.com/companies/news/215341/ipsidy-announces-launch-of-its-verified-portal-system-by-south-africa-s-xpressa-payment-solutions-215341.html
<![CDATA[News - Ipsidy shareholders re-elect CEO Philip Beck and four others to board of directors ]]> https://www.proactiveinvestors.com/companies/news/211330/ipsidy-shareholders-re-elect-ceo-philip-beck-and-four-others-to-board-of-directors-211330.html Shareholders of Ipsidy Inc (OTCQX:IDTY) have re-elected CEO Philip Beck as well as Thomas Szoke, Herbert Selzer, Ricky Solomon and Theodore Stern to the board of directors of the biometrics specialist.

The vote to offer Beck and his four colleagues another term as directors was made at Ipsidy’s annual meeting of stockholders on Friday.

READ: Ipsidy and Ayonix to unveil new biometric security system using IP cameras and face-recognition technology

All of the resolutions proposed at the meeting were passed, Ipsidy said in a release.

Ipsidy is a provider of biometric identification, identity management and electronic transaction processing services. Headquartered in Long Beach, New York, the company counts among its operating subsidiaries MultiPay in Colombia, Cards Plus in South Africa and Ipsidy Enterprises in the UK.

Ipsidy shares slipped 3.6% to finish at $0.10 on Friday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Mon, 17 Dec 2018 07:53:00 -0500 https://www.proactiveinvestors.com/companies/news/211330/ipsidy-shareholders-re-elect-ceo-philip-beck-and-four-others-to-board-of-directors-211330.html
<![CDATA[Media files - Ipsidy and Ayonix team up to develop new biometric security system ]]> https://www.proactiveinvestors.com/companies/stocktube/11175/ipsidy-and-ayonix-team-up-to-develop-new-biometric-security-system-11175.html Mon, 12 Nov 2018 13:59:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11175/ipsidy-and-ayonix-team-up-to-develop-new-biometric-security-system-11175.html <![CDATA[News - Ipsidy reports rise in 3Q revenue thanks to contract with the Zimbabwe Electoral Commission ]]> https://www.proactiveinvestors.com/companies/news/208761/ipsidy-reports-rise-in-3q-revenue-thanks-to-contract-with-the-zimbabwe-electoral-commission-208761.html Ipsidy Inc (OTCQX:IDTY) saw revenue climb in the third quarter and the nine months until the close of September thanks to its contract with Zimbabwe’s Electoral Commission to introduce its biometric fingerprint-matching voter registry system for the country’s elections.

The company’s total revenue for the three- and nine-month period ended on September 30, climbed to $0.7 million and $3.1 million, respectively, compared with $0.6 million and $1.8 million for the three- and nine-month periods last year.

The surge in sales for the nine-month period stems from the completion of the supply of Search, its Automated Fingerprint identification system and related services to the Zimbabwe Electoral Commission, the company said.

READ: Ipsidy and Ayonix to unveil new biometric security system using IP cameras and face-recognition technology

On the list of Ipsidy’s recent achievements is its new partnership with Ayonix Face Technologies to work together to enhance its Access mobile biometric tracking product with Ayonix’s high-speed 3D facial recognition technology.

Using just a tablet and a Bluetooth beacon, Access provides a biometric system to protect the perimeters of buildings and live events.

Ipsidy also recently rolled out Verified in Panama with Datapro and Unibank. This biometric multi-factor authentication system was integrated into Datapro’s e-IBS core banking software, which makes it available to the over 160 financial institutions in 31 countries who use Datapro’s hosted software.

Recent agreements with Safetrade Africa and New Image Building Services to resell Ipsidy’s services and systems in Sub-Saharan Africa and Latin America highlight Ipsidy’s focus on using reseller channels to market its products.

“Our partnership with Ayonix … highlights our approach of integrating third-party technologies into our identity platform,” said Philip Beck, Ipsidy’s CEO, in a statement.

“We are excited by the possibilities opened up by our new services. Our recently announced implementations of both Access and Verified are, we believe, just the start and if things go according to plan, we look forward to announcing many more customer implementations and users accessing the system over the coming quarters, with corresponding revenue,” Beck added.

READ: Ipsidy and New Image Building Services to offer biometric identity authentication in Latin America

New recruits have also been added recently to Ipsidy’s engineering, quality assurance, operations and management teams, the company said.

Ipsidy’s net loss for the three- and nine-month period came to $2.1 million and $7.4 million, respectively, shrinking from a net loss of $2.1 million and $14.6 million for the corresponding period in 2017.  Last year, the satisfaction of notes payable in the first quarter resulted in a charge of about $4.1 million.

In August, Ipsidy received subscriptions, for aggregate gross proceeds of about $9.6 million, via the issuance of about 64.1 million shares of stock at $0.15 per share. The Theodore Stern Revocable Trust invested $1 million in this round of financing. Theodore Stern, an Ipsidy director, is the trustee of the Stern Trust.

Also in August, Ipsidy opted to partially pre-pay $1 million of principal and about $158,000 of accrued interest, out of the $3 million note dated February 1,2017 held by the Stern Trust.

Headquartered in Long Beach, New York, Ipsidy is a provider of biometric identification, identity management and electronic transaction processing services. Its operating subsidiaries outside the US include MultiPay in Colombia, Cards Plus in South Africa and Ipsidy Enterprises in the UK.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

 

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Wed, 07 Nov 2018 10:57:00 -0500 https://www.proactiveinvestors.com/companies/news/208761/ipsidy-reports-rise-in-3q-revenue-thanks-to-contract-with-the-zimbabwe-electoral-commission-208761.html
<![CDATA[News - Ipsidy and Ayonix to unveil new biometric security system using IP cameras and face-recognition technology ]]> https://www.proactiveinvestors.com/companies/news/208737/ipsidy-and-ayonix-to-unveil-new-biometric-security-system-using-ip-cameras-and-face-recognition-technology-208737.html Biometrics specialist Ipsidy Inc (OTCQX:IDTY) is entering a new partnership with Ayonix Face Technologies, a developer of 3D facial recognition technology, to create the next wave of biometric identity technology using IP cameras commonly used for surveillance.

If you attend a public event, you’re likely to not want to wait on line to be screened for security clearance and it’s a chore to show ID at the door.

In their new collaboration, Ipsidy and Ayonix are looking to make this sort of high-tech security more unobtrusive and less cumbersome.

Ipsidy’s Access solution, a mobile biometric tracking system, will adopt the high-speed performance and novel detection capabilities of Ayonix’s 3D facial recognition technology.

Drilling down to the details, Access by Ipsidy, enhanced with Ayonix’s FaceID Software, filters facial images extracted from IP cameras and video feeds and rapidly matches them to stored images.

READ: Ipsidy and New Image Building Services to offer biometric identity authentication in Latin America

The system can be introduced with existing IP-based camera systems, which are already in place at a facility, to identify and classify people who are approaching a security checkpoint or moving around a building or a public event.

“Ipsidy is pleased to partner with Ayonix to add the edge device detection capabilities of their 3D facial recognition software to our Access solution,” said Ipsidy CEO Philip Beck in a statement. “Together, we are creating the next generation of frictionless, biometric access management products.”  

When an enrolled user is identified at an event or a checkpoint, Ipsidy’s Access notifies site attendants and security workers via its mobile Concierge app. So, authorized visitors can be welcomed by name and “waved” through following a biometric check.

Security personnel and site attendants also receive immediate notifications when people who do not have the requisite credentials or who are on a watch list attempt to access a location.

Ipsidy’s Concierge app provides real-time monitoring of security transactions and alerts, all from the convenience of a tablet device.

READ: Ipsidy unveils Access, a new cost-effective biometric monitoring system

As part of its new tie-up with Ayonix, the Access platform will continuously match identities against customer-defined, ‘Authorized’, ‘Unknown’ and ‘Watch’ lists. There is no need to check IDs, swipe cards or fret about lost or stolen-access credentials. Building owners and occupants can enroll authorized users with a simple user interface and if needed, tenants or residents of a building can invite visitors and issue temporary guest passes using the Ipsidy Access mobile app.

The improved technology allows building owners and facility managers to transform existing IP camera security systems into “Biometric Access Identity Authentication” points, which offer a cost-effective upgrade to their security systems.

Indeed, the new system offers businesses, institutions, schools, hospitals and event venues a biometric access management portal that improves security operations, speeds up security checkpoint lines and is convenient.

The two companies are set to launch the new combined Access product in early 2019. Ipsidy and Ayonix will be presenting the new technology at the International Security Conference and Exposition on November 14-15 at the Javits Center in New York.

Third-quarter results in focus

The announcement of the new combined Access product came as Ipsidy reported third-quarter results.

The company’s revenue for the three months ended on September 30, came to $0.7 million, up from $0.6 million in the year-ago quarter. Over the nine months until the close of September, revenue amounted to $3.1 million, up sharply from $1.8 million in the same period last year.

The jump in sales stemmed from the successful completion of the supply of Search, the company’s automated fingerprint identification system and related services to the Zimbabwe Electoral Commission.

Ipsidy's net loss for the three and nine month periods came to $2.1 million and $7.4 million respectively, compared to a net loss of $2.1 million and $14.6 million for the same periods last year.

In addition to its new partnership with Ayonix, Ipsidy has added additional services to its platform including the verification of identity, a service requested by many financial institutions.

On its list of other recent achievements, was the initial launch of Access, which uses just a tablet and a Bluetooth beacon, to provide a biometric system to protect the perimeters of offices, events and residential buildings.

It also rolled out Verified in Panama with Datapro and Unibank. This biometric multi-factor authentication system was integrated into Datapro’s e-IBS core banking software and is available to all of the over 160 financial institutions in 31 countries who use Datapro’s hosted software.

“We have made tremendous strides over the last 18 months and are firmly on the road towards achieving our strategic objectives,” said Ipsidy CEO Beck in a statement. “Our recently announced implementations of both Access and Verified are, we believe, just the start and if things go according to plan, we look forward to announcing many more customer implementations and users accessing the system over the coming quarters, with corresponding revenue.”

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Wed, 07 Nov 2018 08:12:00 -0500 https://www.proactiveinvestors.com/companies/news/208737/ipsidy-and-ayonix-to-unveil-new-biometric-security-system-using-ip-cameras-and-face-recognition-technology-208737.html
<![CDATA[News - Ipsidy and New Image Building Services to offer biometric identity authentication in Latin America ]]> https://www.proactiveinvestors.com/companies/news/207585/ipsidy-and-new-image-building-services-to-offer-biometric-identity-authentication-in-latin-america-207585.html Ipsidy Inc (OTCQX:IDTY) said Monday that it had forged a pact with New Image Building Services Corp to offer its suite of biometric identity and authentication solutions to Latin American countries.

The joint offering will initially include Ipsidy’s Access, a cost-effective mobile biometric tracking system, and Verified, which simplifies caller identification. Ipsidy provides biometric identification and electronic transaction processing services.

"We are excited to partner with Ipsidy to resell the company's suite of biometric identity solutions and thereby become an early leader in the Latin American market to offer this technology," said John Ezzo, CEO of New Image Building Services.

Detroit-based New Image has specialized for over three decades in designing, planning, and managing all the services needed to operate a commercial facility.

"Identity, physical-access security and digital security are major issues for our clients and the industries that we serve. Our clients seek innovative solutions that offer enhanced security against fraud and unauthorized physical access," Ezzo continued to say. "Ipsidy's solutions will provide our clients with the highest level of identity, transaction and access authentication."

READ: UniBank Panama launches Ipsidy’s Verified biometric authentication solution with Datapro’s core banking system

Both the Ipsidy products — Access and Verified — are cost-effective and easy to use. Using nothing more than tablets, Bluetooth and mobile phones, Ipsidy’s Access protects the perimeters of buildings, campuses and even borders to create safer environments by monitoring the enrolled identities of people moving in and around a defined area.

Managers at companies, hospitals and warehouses, as well as residential and commercial buildings, for example, can use this new technology to confirm the biometric identification of enrolled participants upon their arrival and exit from buildings.

Similarly, Verified leverages Ipsidy’s identity portal to help companies seamlessly authenticate a user's identity. A business agent using Verified, can simply log into the Ipsidy portal to trigger an authentication request. They then take a 'selfie' through their Ipsidy mobile app and it converts the selfie into a biometric facial template that is matched against a reference template. With increasing data breaches and identity theft, biometric identification is gaining popularity for its ability to identify and authenticate individuals quickly and accurately.

"Ipsidy is pleased to partner with New Image to resell our services in the Latin American market. Together we will offer solutions that provide the highest level of security, control and certainty for everyday transactions and physical access control," said Ipsidy CEO Philip Beck.

Based in Long Beach, New York, Ipsidy has developed secure biometric identity management and electronic transaction solutions for government and public-sector companies in the US, South Africa and internationally.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

 

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Mon, 22 Oct 2018 10:02:00 -0400 https://www.proactiveinvestors.com/companies/news/207585/ipsidy-and-new-image-building-services-to-offer-biometric-identity-authentication-in-latin-america-207585.html
<![CDATA[News - UniBank Panama launches Ipsidy’s Verified biometric authentication solution with Datapro’s core banking system ]]> https://www.proactiveinvestors.com/companies/news/206981/unibank-panama-launches-ipsidys-verified-biometric-authentication-solution-with-datapros-core-banking-system-206981.html Shares of Ipsidy Inc (OTCQX:IDTY) shot up Friday after UniBank Panama said it would integrate the company’s Verified biometric authentication solution with Datapro Inc’s e-IBS core banking system, which streamlines business processes for the banking industry.

Datapro, a banking software company, has integrated Ipsidy’s biometric authentication solution into its e-IBS platform to provide UniBank customers with an identity authentication umbrella. This makes UniBank one of the first banks in Latin America to tackle the problem of identity and cybersecurity head-on by implementing Ipsidy’s biometric identification.

UniBank’s launch of Verified is subject to final local regulatory approvals.

Verified allows UniBank account holders to use biometric identification by taking a selfie using an Ipsidy mobile app. The app converts the selfie into a biometric facial template that is matched against a reference template. With increasing data breaches, cyber security problems and identity theft, biometric identification is gaining popularity for its ability to identify and/or authenticate individuals quickly and accurately.

Shares of Ipsidy shot up nearly 8% to $0.17 in midday trade.

BIG PICTURE: Ipsidy Inc. rides the wave of identity authentication

“We needed a secure but user-friendly solution to provide additional protection for our customers’ online and mobile account access, account change authorization as well as transaction approval,” said Nicolás Saval, vice president of technology, at UniBank. “The Ipsidy/Datapro solution checks all the boxes.”

“Identity and cyber security are major issues for our financial services clients, who seek innovative solutions that protect their customers’ accounts and give them enhanced and convenient control over access to their money,” said Javier Montero, chief technology officer at Datapro.

Montero also said Datapro is looking forward to rolling out Ipsidy’s Verified solution and becoming a leader in the Latin American market by utilizing the cutting-edge technology.

“We look forward to supporting UniBank in their launch and Datapro in their continued rollout of our combined solution to their extensive customer portfolio,” added Ipsidy CEO Philip Beck, a lawyer-turned-entrepreneur who has spent the last 20 years building and operating scalable international transaction platforms.

Based in Long Beach, New York, Ipsidy has developed secure biometric identity management and electronic transaction solutions for government and public-sector organizations in the US, South Africa and internationally.

--Recasts story and updates share price--

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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Fri, 12 Oct 2018 07:30:00 -0400 https://www.proactiveinvestors.com/companies/news/206981/unibank-panama-launches-ipsidys-verified-biometric-authentication-solution-with-datapros-core-banking-system-206981.html
<![CDATA[Media files - Ipsidy expands global reach with Safetrade Africa partnership ]]> https://www.proactiveinvestors.com/companies/stocktube/10824/ipsidy-expands-global-reach-with-safetrade-africa-partnership-10824.html Thu, 11 Oct 2018 13:09:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/10824/ipsidy-expands-global-reach-with-safetrade-africa-partnership-10824.html <![CDATA[News - Ipsidy and Safetrade Africa launch biometric identity authentication solutions for African, Indian Ocean markets ]]> https://www.proactiveinvestors.com/companies/news/206807/ipsidy-and-safetrade-africa-launch-biometric-identity-authentication-solutions-for-african-indian-ocean-markets-206807.html Ipsidy Inc (OTCQX:IDTY), a provider of biometric identification and electronic transaction processing services, said Wednesday that it had forged a pact with Safetrade Africa to launch biometric identity authentication solutions for the African and Indian Ocean markets.

Under the terms of the agreement, Safetrade Africa will partner with Ipsidy to offer the US company’s suite of biometric identity and authentication solutions in South Africa and nearly 20 African countries south of the equator. The partnership will also extend to the Indian Ocean islands of Madagascar, Mauritius and Seychelles.

The joint offering will initially include Ipsidy’s Access, a novel cost-effective mobile biometric tracking system and Verified, which simplifies caller identification.

"We are excited to partner with Ipsidy to resell the company's suite of biometric identity solutions and thereby becoming an early leader in the African market to offer this technology," said Carrie Dickie of Safetrade Africa.

"Identity and cyber security are major issues for our clients and for the financial services, payments, e-commerce wallet, healthcare, contact centre and cryptocurrency exchange industries we serve. Our clients seek innovative solutions that offer enhanced security and protection against fraud. We believe that Ipsidy's solutions will provide our clients with the highest level of identity and transaction authentication," added Dickie.

BIG PICTURE: Ipsidy Inc. rides the wave of identity authentication

Both the Ipsidy products — Access and Verified — are cost-effective and easy to use. Using nothing more than tablets, Bluetooth and mobile phones, Ipsidy’s Access protects the perimeters of buildings, campuses and even borders to create safer environments by monitoring the enrolled identities of people moving in and around a defined area.

Managers at companies, hospitals and warehouses, as well as residential and commercial buildings, for example, can use this new technology to confirm the biometric identification of enrolled participants upon their arrival and exit from buildings. 

Similarly, Verified leverages Ipsidy’s identity portal to help companies seamlessly authenticate a user's identity. It provides a frictionless caller experience as callers simply login to Ipsidy Identity portal where they trigger an authentication request to the caller’s registered mobile phone.

"Ipsidy is pleased to partner with Safetrade to resell our services in the Sub-Saharan African and Indian Ocean market. Together we will offer solutions that provide the highest level of security, control and certainty for everyday transactions," said Jonathan Ellis, managing director of Ipsidy EMEA.

Based in Long Beach, New York, Ipsidy has developed secure biometric identity management and electronic transaction solutions for government and public-sector organizations in the United States, South Africa and internationally.

Contact Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive

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Wed, 10 Oct 2018 10:19:00 -0400 https://www.proactiveinvestors.com/companies/news/206807/ipsidy-and-safetrade-africa-launch-biometric-identity-authentication-solutions-for-african-indian-ocean-markets-206807.html
<![CDATA[Media files - Ipsidy launches Access - its biometric monitoring system ]]> https://www.proactiveinvestors.com/companies/stocktube/10166/ipsidy-launches-access-its-biometric-monitoring-system-10166.html Fri, 17 Aug 2018 09:04:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/10166/ipsidy-launches-access-its-biometric-monitoring-system-10166.html <![CDATA[News - Ipsidy unveils Access, a new cost-effective biometric monitoring system ]]> https://www.proactiveinvestors.com/companies/news/202756/ipsidy-unveils-access-a-new-cost-effective-biometric-monitoring-system-202756.html Ipsidy Inc (OTCQX:IDTY), a provider of biometric identification and electronic transaction processing services, on Monday unveiled Access, a novel cost-effective mobile biometric tracking system.

Using nothing more than tablets, Bluetooth and mobile phones, Access protects the perimeters of buildings, campuses and even borders to create safer environments by monitoring the enrolled identities of people moving in and around a defined area.

Managers at companies, hospitals and warehouses, as well as residential and commercial buildings, for example, can use this new technology to confirm the biometric identification of enrolled participants upon their arrival and exit from buildings. 

Read: Ipsidy’s surging 2Q revenue and US$9.6mln in equity funding to help it execute across geographies

Ipsidy’s tablet-based Concierge application works in tandem with Access and is used by the site’s attendant to monitor the entries and exits of enrolled participants in the Access system. Indeed, the Concierge app registers and verifies users’ identities while also providing readouts on analytics. The attendance of employees can be tracked, for example, by reviewing access logs.

A site’s employees or residents can also use the program to create date-and-time specific digital visitor passes that can be monitored by the attendant who takes charge of the system.

Big Picture: Ipsidy Inc. rides the wave of identity authentication

Access works across an array of settings, ranging from commercial and residential buildings as well as schools and hospitals to warehouses.

Pricing for Access depends on the number of users and starts at just a few hundred dollars per month.

Based in Long Beach, New York, Ipsidy has developed secure biometric identity management and electronic transaction solutions for government and public-sector organizations in the United States, South Africa and internationally.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

 

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Mon, 13 Aug 2018 08:03:00 -0400 https://www.proactiveinvestors.com/companies/news/202756/ipsidy-unveils-access-a-new-cost-effective-biometric-monitoring-system-202756.html
<![CDATA[News - Ipsidy’s surging 2Q revenue and US$9.6mln in equity funding to help it execute across geographies ]]> https://www.proactiveinvestors.com/companies/news/202525/ipsidys-surging-2q-revenue-and-us96mln-in-equity-funding-to-help-it-execute-across-geographies-202525.html Ipsidy Inc (OTCQX:IDTY), a provider of biometric identification and electronic transaction processing services, posted strong second-quarter revenue growth. The company also indicated that it had received subscriptions for common stock in a US$9.6mln equity funding round.

“The recent fund-raising will help us execute on the large number of physical and virtual use cases for our solutions in different markets and countries around the world,” Ipsidy CEO Philip Beck told Proactive Investors.

“Our flexible suite of Identity-as-a-Service solutions makes biometrically authenticated identity core to the user experience in approving everyday transactions. Our low-cost IDaaS solutions can be delivered out of the box or easily integrated with our RESTful API’s,” added Beck, a lawyer-turned-entrepreneur, who has spent the last 20 years building and operating scalable international transaction platforms.   

Beck’s new company Ipsidy provides a platform for biometric identification and creates a trusted transaction, embedding authenticated identity and event details with a digital signature and uses a participant’s own mobile device. 

BIG PICTURE: Ipsidy Inc. rides the wave of identity authentication

Ipsidy has developed secure biometric identity management and electronic transaction solutions for government and public-sector organizations in the United States, South Africa and internationally.

As of August 7, Ipsidy said it had received subscriptions for approximately US$9.6mln by issuing roughly 63.9 million shares at US$0.15 per share. The Theodore Stern Revocable Trust was investing US$1mln in the funding round. Theodore Stern, one of the Ipsidy’s directors, is a trustee of the Stern Trust.

2Q revenue surge

Total revenue for the first and second quarter were US$1.8mln and US$2.4mln, respectively, compared to US$0.6mln and US$1.1mln in the comparable period a year ago.

The surge in second-quarter revenue to US$2.4mln was driven by Ipsidy’s successful completion of SearchTM, its Automated Fingerprint Identification System, for the Zimbabwe Electoral Commission.

During the quarter Ipsidy also inked a pact with leading GPS-tracking solutions firm Skypatrol LLC to offer SkyGuru in Latin America.

Founded in 2002, Skypatrol helps fleet managers evaluate driver patterns, time spent at delivery locations, driver speeds during deliveries, and create the most efficient routes. It has nearly 1 million GPS devices in 25 countries.

SkyGuru now combines Skypatrol’s GPS technology with Ipsidy’s transact digital issuance platform and mobile biometrics to deliver “cost-control” to trucking fleet operators and logistics companies throughout Latin America.

READ: Ipsidy teams up with Skypatrol to offer SkyGuru in Latin America

It enables trucking fleet operators to create mobile wallets with virtual payment cards for their drivers; place funds in those accounts with a click of a button, enroll gas stations and other merchants with whom the fleet does business and monitor all activity in real-time. In effect, thanks to SkyGuru, fleets and their drivers will no longer need to pay for fuel or services with cash, vouchers, or payment cards.

Beck started Planet Payment Inc. in 1999 and built it into a Nasdaq-listed company before it was sold in 2017.

Beck is now riding the wave of identity authentication at a time when there's great premium for what companies like Ipsidy and cybersecurity start-up Duo Security do. Cisco recently agreed to acquire Duo Security for US$2.35bn.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

 

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Wed, 08 Aug 2018 16:06:00 -0400 https://www.proactiveinvestors.com/companies/news/202525/ipsidys-surging-2q-revenue-and-us96mln-in-equity-funding-to-help-it-execute-across-geographies-202525.html
<![CDATA[News - Biometrics company Ipsidy sees revenue more than triple in its second-quarter results ]]> https://www.proactiveinvestors.com/companies/news/202417/biometrics-company-ipsidy-sees-revenue-more-than-triple-in-its-second-quarter-results-202417.html Ipsidy Inc (OTCQX:IDTY) announced its second-quarter earnings, seeing revenue more than triple compared with a year ago.

The biometrics company reported a net loss of US$0.01 per share on revenue of US$1.84mln compared with a net loss of US$0.01 on revenue of US$559,400 in the previous year’s second quarter.

READ: Ipsidy introduces biometric identity authentication app for iPhone, Android devices

The company, based in Long Beach, New York, provides multi-factor biometric identification tools for electronic transaction processing, recently introducing an Ipsidy app for iPhone and Android.

The tech company also announced US$9.6mln in common equity funding.

READ: Ipsidy teams up with Skypatrol to offer SkyGuru in Latin America

“The recent fund-raising will help us execute on the large number of physical and virtual use cases for our solutions, in different markets and countries around the world,” said CEO Philip Beck in a press release.

Ipsidy received an upgrade in May, uplisting to the OTCQX Best Market from the OTCQB Venture Market.

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Tue, 07 Aug 2018 16:44:00 -0400 https://www.proactiveinvestors.com/companies/news/202417/biometrics-company-ipsidy-sees-revenue-more-than-triple-in-its-second-quarter-results-202417.html
<![CDATA[News - Ipsidy teams up with Skypatrol to offer SkyGuru in Latin America ]]> https://www.proactiveinvestors.com/companies/news/199596/ipsidy-teams-up-with-skypatrol-to-offer-skyguru-in-latin-america-199596.html Ipsidy Inc. (OTCQX:IDTY), a provider of biometric identification and electronic transaction processing services, announced Tuesday that it has inked a pact with leading GPS-tracking solutions firm Skypatrol LLC to offer SkyGuru in Latin America.

Founded in 2002, Skypatrol helps fleet managers evaluate driver patterns, time spent at delivery locations, driver speeds during deliveries, and create the most efficient routes. It has nearly 1 million GPS devices in 25 countries.

SkyGuru now combines Skypatrol’s GPS technology with Ipsidy’s transact digital issuance platform and mobile biometrics to deliver “cost-control” to trucking fleet operators and logistics companies throughout Latin America.

It enables trucking fleet operators to create mobile wallets with virtual payment cards for their drivers; place funds in those accounts with a click of a button, enroll gas stations and other merchants with whom the fleet does business and monitor all activity in real-time. In effect, thanks to SkyGuru, fleets and their drivers will no longer need to pay for fuel or services with cash, vouchers, or payment cards.

“We are excited to launch this innovative mobile payment and identity solution, combined with our proven GPS based services. This is the next generation of fleet management software solutions and will allow our clients to significantly improve their operations by lowering costs and improving efficiencies,” said Skypatrol CEO Robert Rubin. “We are pleased to partner with Ipsidy and believe that the Skypatrol-Ipsidy SkyGuru solution will complement our existing solutions and provide our clients with a secure, easy-to-implement, business management tool.”

READ: Ipsidy moves to OTCQX Best Market from QB Venture

"The combination of Ipsidy’s Transact platform and our biometric identity authentication technology, with Skypatrol’s broadly adopted GPS solutions, will, we believe, create a powerful offering providing the high level of transaction security, control and certainty that is required to operate in the critical logistics sector,” said Ipsidy CEO Philip Beck.

Skypatrol has agreed to offer SkyGuru as part of its GPS-based fleet-management solution to enhance the operational efficiency and productivity of its clients’ operations.

Long Beach, New York-based Ipsidy has been on a tear of late, making deals in Zimbabwe and Colombia and rolling out a new biometric authentication app for Apple iPhone and Android smartphones.

SkyGuru is powered by Ipsidy’s transact digital issuance platform offering the Ipsidy Mobile Wallet, a virtual payment account, for mobile devices. The fleet’s drivers simply download the Ipsidy Mobile Wallet and then proceed to make their purchases of fuel or other services at participating gas stations and other merchants, to which Skypatrol’s systems can specifically route them.

Participating merchants use Ipsidy’s mobile point-of-sale application (MPOS) on a mobile device, thus avoiding the need to purchase and install expensive hardware. Merchants are also able to authenticate the identity of the driver by means of Ipsidy’s powerful facial biometric identity solution.

Finally, the fleet operator can manage the entire system by means of the financial and fleet management portals provided by Ipsidy and Skypatrol. The system is designed to reduce fraud and paperwork, simplify cash management and allow the fleet operator to track and control the use of their resources.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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Tue, 26 Jun 2018 08:37:00 -0400 https://www.proactiveinvestors.com/companies/news/199596/ipsidy-teams-up-with-skypatrol-to-offer-skyguru-in-latin-america-199596.html
<![CDATA[News - OTCMarkets UPDATE: Ipsidy, Ascot Resources and more ]]> https://www.proactiveinvestors.com/companies/news/196770/otcmarkets-update-ipsidy-ascot-resources-and-more-196770.html The OTCMarkets were on the rise today with only the OTCQX U.S. seeing a slight decline.

Ipsidy Inc (OTCQX:IDTY) made its debut on the OTCQX Best Market. The biometrics company just uplisted to the OTCQB Venture Market in March. The New York-based company won a contract with Zimbabwe’s Electoral Commission to bring its biometric finger matching voter registry system to the country’s upcoming general elections. Ipsidy recently introduced its own biometric authentication app, which is available for iPhone and Android. Shares were up nearly 2% to US$0.27.

READ: Ipsidy moves to OTCQX Best Market from QB Venture

Ascot Resources Ltd (OTCQX:AOTVF) was one of the top gainers of the day with shares rising double digits after the gold and silver exploration company increased its total gold resources at its flagship Premier-Dilworth Properties. The Vancouver-based company also operates the Swamp Point project in British Columbia and the Mt. Margaret deposit in Washington state. Its shares were up more than 10% to US$1.05.

MoneyOnMobile Inc (OTCQB:MOMTD) was a top decliner of the day after the mobile payments technology company announced the date for an Ownership Day, allowing shareholders to increase their ownership in the company. The Dallas-based company focuses on the Indian market, allowing consumers to use their phones to pay with their phones and transfer money. The proceeds will be used to expand growth in India.  Shares were down nearly 20% to US$5.99.

Delcath Systems Inc (OTCQB:DCTHD) shares fell after the pharmaceutical company released its first quarter results, reporting a decrease in revenue compared with the previous year’s first quarter. The New York-based company, which develops treatments for primary and metastatic liver cancers, recently began its trial of of Malphalan Hydrochloride to treat patients with intrahepatic cholangiocarinoma. Shares were down nearly 9% to US$3.00.

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Thu, 10 May 2018 12:14:00 -0400 https://www.proactiveinvestors.com/companies/news/196770/otcmarkets-update-ipsidy-ascot-resources-and-more-196770.html
<![CDATA[News - Ipsidy moves to OTCQX Best Market from QB Venture ]]> https://www.proactiveinvestors.com/companies/news/196744/ipsidy-moves-to-otcqx-best-market-from-qb-venture-196744.html The stock of Ipsidy Inc. (OTCQX:IDTY) has received a big upgrade.

OTC Markets Group Inc. said Thursday Ipsidy has qualified to trade on the OTCQX Best Market. It marks the second time Ipsidy has moved up in the OTC standings, having uplisted to the OTCQB Venture Market in March.

The provider of biometric identification and electronic transaction processing services said it begins trading today on OTCQX, continuing with the symbol "IDTY." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on the OTCMarkets website.

"Congratulations to Ipsidy on upgrading to the OTCQX Best Market," said Jason Paltrowitz, executive vice president of corporate services at OTC Markets Group. "We are pleased to see Ipsidy utilize the OTCQB Venture Market to build their company's visibility and graduate to the OTCQX Best Market. We look forward to continuing to support the company and its investors."

READ: Ipsidy Inc. rides the wave of identity authentication

Philip Beck, Ipsidy chairman and CEO, said the company is "delighted to be upgrading to OTCQX."

"As a company, we are committed to providing a transparent market for our investors and maintaining high financial and operating standards," Beck said. "This is a significant milestone for Ipsidy and we believe a step towards increasing the liquidity of our stock."

The Long Beach, NY, company has been on a tear of late, making deals in Zimbabwe and Colombia and rolling out a new biometric authentication app for Apple iPhone and Android smartphones.

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Thu, 10 May 2018 08:09:00 -0400 https://www.proactiveinvestors.com/companies/news/196744/ipsidy-moves-to-otcqx-best-market-from-qb-venture-196744.html
<![CDATA[News - Ipsidy shrinks net loss in 1Q as it rolls out a bevy of new products and contracts ]]> https://www.proactiveinvestors.com/companies/news/196477/ipsidy-shrinks-net-loss-in-1q-as-it-rolls-out-a-bevy-of-new-products-and-contracts-196477.html Ipsidy Inc. (OTCQB:IDTY, OTCMKTS:IDTY), a provider of biometric identification, identity management and electronic transaction processing services, substantially shrank its net loss in the first quarter as it unveiled new products and contracts.

Among Ipsidy’s achievements was the introduction of the new Ipsidy App for iPhone and Android at Apple Inc.'s (NASDAQ:AAPL) App Store and Alphabet's (NASDAQ:GOOG) Google Play, which provides "mobile biometric, multi-factor identity authentication for a broad range of everyday transactions.”

The company also signed a contract with Ruta Amiga, a Colombian marketing company, to launch a new loyalty rewards program in Colombia and reached a deal to offer Ipsidy’s biometric authentication devices to Datapro, a developer of advanced software systems, which will employ them at financial institutions across Latin America.

Its crowning accomplishment, however, was its winning of a contract with Zimbabwe’s Electoral Commission to introduce its biometric fingerprint matching voter registry system in the country’s upcoming general elections. The introduction of Ipsidy’s system will allow Zimbabwe to conform to national and international election standards.

“Ipsidy made significant progress in the last quarter launching our new products, signing new customers and substantially delivering our search AFIS system for Zimbabwe,” said Philip Beck, Ipsidy’s chairman and chief executive officer in a statement. “We are executing our strategy of creating trusted transactions, embedding biometrically authenticated identity and event details with a digital signature and using a participant’s mobile device to approve everyday transactions.”

WATCH: Ipsidy rolls out new biometric authentication app for iPhone and Android

The company’s net loss before taxes for the three months ending at the close of March came to US$2.8mln, which was substantially better than its net loss in the first quarter of 2017 of US$9.7mln. On a per-share basis, its net loss came to $0.01 cent, shrinking from a net loss of $0.03 per share in the year-ago quarter.

Its revenue for the first quarter came to $0.5 million compared to $0.6 million in the year-ago quarter.

For the 12 months ended December 31, 2017, Ipsidy's revenue totalled US$2.3mln, versus US$1.9mln a year earlier.

In early trade, Ipsidy shares were flat at US$0.28.

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Mon, 07 May 2018 09:42:00 -0400 https://www.proactiveinvestors.com/companies/news/196477/ipsidy-shrinks-net-loss-in-1q-as-it-rolls-out-a-bevy-of-new-products-and-contracts-196477.html
<![CDATA[Media files - Ipsidy rolls out new biometric authentication app for iPhone and Android ]]> https://www.proactiveinvestors.com/companies/stocktube/9218/ipsidy-rolls-out-new-biometric-authentication-app-for-iphone-and-android-9218.html Fri, 04 May 2018 12:35:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/9218/ipsidy-rolls-out-new-biometric-authentication-app-for-iphone-and-android-9218.html <![CDATA[News - Ipsidy introduces biometric identity authentication app for iPhone, Android devices ]]> https://www.proactiveinvestors.com/companies/news/196427/ipsidy-introduces-biometric-identity-authentication-app-for-iphone-android-devices-196427.html Ipsidy Inc. (OTCMKTS:IDTY, OTCQB:IDTY), a provider of biometric identification, identity management and electronic transaction processing services, has introduced the new Ipsidy App for iPhone and Android.

The Long Beach, NY, company said in a release that the new app provides "mobile biometric, multi-factor identity authentication for a broad range of everyday transactions" through the use of a selfie to authenticate their identity. Ipsidy said its identity transaction platform converts the selfie into a biometric facial template that is matched against a previously enrolled reference template.

The new app is currently available at the Apple Inc.'s (NASDAQ:AAPL) App Store and Alphabet's (NASDAQ:GOOG) Google Play.

READ: Ipsidy Inc. rides the wave of identity authentication

Ipsidy operates in a sector CEO Philip Beck calls Identity Solutions as a Service, or IDSaaS. In addition to integrating Ipsidy’s service as a black box, using available APIs and SDKs, Ipsidy also provides an out-of-the-box solution that uses tech already in everyone’s possession, Beck told Proactive Investors.

After the massive hacks of Equifax Inc. (NYSE:EFX), Target Corp. (NYSE:TGT) and Home Depot(NYSE:HD), Beck and the Ipsidy team saw a huge market for the company’s proprietary biometric technology and beyond. Today's release is particularly prescient in the wake of Thursday's news that Twitter Inc. (NASDAQ:TWTR) compromised millions of user passwords, resulting in a wide-ranging privacy alert.

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Fri, 04 May 2018 07:21:00 -0400 https://www.proactiveinvestors.com/companies/news/196427/ipsidy-introduces-biometric-identity-authentication-app-for-iphone-android-devices-196427.html
<![CDATA[News - Ipsidy to showcase mobile biometric authentication solution at TRANSACT conference ]]> https://www.proactiveinvestors.com/companies/news/195072/ipsidy-to-showcase-mobile-biometric-authentication-solution-at-transact-conference-195072.html Ipsidy Inc. (OTCQB:IDTY, OTCMKTS:IDTY), a provider of secure, biometric identification, identity management and electronic transaction processing services, said it will be highlighted in the Biometrics and Identify Zone at the Electronic Transactions Association's TRANSACT Conference in Las Vegas on April 17 to April 19.

TRANSACT's dedicated Biometrics and Identity Zone features providers of Next Generation Authentication solutions, the company said in a statement. Ipsidy, based in Long Beach, NY, will showcase its mobile biometric authentication solution that helps financial institutions and payment providers meet the latest PCI-DSS requirement for multi-factor authentication.

Ipsidy leverages the security of biometrics and the firm’s digital signature to establish certainty for everyday transactions from the convenience of a mobile phone. Ipsidy's mobile identity application puts consumers in control of their identity and lets them authorize transactions before, not after, they have been approved. That allows customers to experience a consistent, frictionless biometric experience when they quickly capture their “selfie” in the company’s mobile application to authenticate their identity.

READ: Ipsidy Inc. rides the wave of identity authentication

Ipsidy has seen the market for its proprietary biometric technology explode after the hacks of Equifax Inc. (HD:Efx), Target Corp. (NYSE:TGT) and Home Depot (NYSE:HD).

Ipsidy's Identity Transaction Platform offers support for authentication of a broad range of digital and physical transactions, including online account access, payment transactions, call center interaction and physical access

Ipsidy can be found at TRANSACT’s Booth No. 549.

Shares ose 5.54% to US$0.26 in New York..

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Mon, 16 Apr 2018 11:02:00 -0400 https://www.proactiveinvestors.com/companies/news/195072/ipsidy-to-showcase-mobile-biometric-authentication-solution-at-transact-conference-195072.html
<![CDATA[Media files - Ipsidy to roll out new identity authentication products to create trusted transactions ]]> https://www.proactiveinvestors.com/companies/stocktube/9007/ipsidy-to-roll-out-new-identity-authentication-products-to-create-trusted-transactions-9007.html Fri, 06 Apr 2018 09:26:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/9007/ipsidy-to-roll-out-new-identity-authentication-products-to-create-trusted-transactions-9007.html <![CDATA[News - Ipsidy partners with Colombian marketing group to launch new rewards program ]]> https://www.proactiveinvestors.com/companies/news/193800/ipsidy-partners-with-colombian-marketing-group-to-launch-new-rewards-program-193800.html Identity management and electronic transaction processing services provider Ipsidy Inc (OTCMKTS:IDTY) has partnered with Ruta Amiga to launch the Colombia-based marketing group's new loyalty rewards program in the Latin American country.

Ipsidy's digital issuance platform allows companies to build and manage a mobile ecosystem of trusted agents, merchants and consumers to use pre-paid debit and loyalty cards to pay for goods and services in-store, online and in-app.

The platform includes a mobile wallet, an acquiring gateway, mobile point of sale system, a web portal, a loyalty module, and proximity marketing capability.

Importantly, Long Beach, NY-based Ipsidy has developed the platform for use in multiple languages and with multiple currencies.

'Exciting' project

"Ipsidy is pleased to partner with Ruta Amiga as it launches its new and exciting rewards program throughout Colombia," said Ipsidy chairman and chief executive Philip Beck.

"This project will further our goal of delivering solutions that allow our clients to build and manage trusted mobile ecosystems to grow their businesses in new ways."

Ruta Amiga general manager, Fiddel Alvarez, added: "The platform’s flexibility, robust capabilities and ease-of-use is an excellent fit for our requirements.

"We are confident that with Ipsidy as our technology partner, the Ruta Amiga program will be successful.”

Ipsidy shares were up 1.2% to US$0.26 in pre-market trading on Monday.

 

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Mon, 26 Mar 2018 08:39:00 -0400 https://www.proactiveinvestors.com/companies/news/193800/ipsidy-partners-with-colombian-marketing-group-to-launch-new-rewards-program-193800.html
<![CDATA[News - 2017 a year of “transformational change” for Ipsidy, but still sees rise in revenues ]]> https://www.proactiveinvestors.com/companies/news/193303/2017-a-year-of-transformational-change-for-ipsidy-but-still-sees-rise-in-revenues-193303.html The past year has been one of significant change at Ipsidy Inc (OTCMKTS:IDTY), but the identity authentication and management group still managed to grow revenues in 2017.

The Long Beach, New York-based company was known as ID Global Solutions until new president and chief executive Philip Beck, along with new chief financial officer Stuart Stroller, joined at the end of January 2017.

READ: Ipsidy partners with Datapro to launch IDLok in Latin America

Beck and Stroller reimagined the business as Ipsidy – a play on the Latin word “ipse,” which means self – and together with the original founder Tom Szoke and his team built a suite of new authentication products around its core of existing applications.

In December, Ipsidy won an international tender by Zimbabwe’s Electoral Commission to introduce its biometric fingerprint-matching voter registry system in the country’s general elections this summer, which it officially signed the contract for earlier this week.

For the 12 months ended December 31 2017, revenue totalled US$2.3mln, versus US$1.9mln a year earlier.

Adjusted underlying losses (EBITDA) widened to US$5.7mln (US$4.3mln), reflecting the increased investment in infrastructure, technology and personnel.

Cleaning up the balance sheet

One of the key objectives for Beck and his team when they first arrived was to clean up Ipsidy’s balance sheet.

The company converted US$6.3mln of existing debt and accrued interest into equity, while  it repaid US$0.3mln of additional debts and cancelled 3.6mln warrants and 2.5mln shares.

As well as cleaning up the balance sheet, Beck and co. also managed to beef it up, securing US$9mln of additional equity and US$3mln of debt financing.

‘Exciting year of progress’ ahead

“2017 was a year of transformational change. The company was recapitalised, management was reorganized and the Ipsidy team strengthened,” said CEO Beck.

“We continue to enhance our identity transaction platform, in order to create trusted transactions to approve everyday events.

“Our platform enables customers to choose the levels of friction and assurance that are appropriate to their business. We are looking forward to an exciting year of progress.”

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Fri, 16 Mar 2018 08:25:00 -0400 https://www.proactiveinvestors.com/companies/news/193303/2017-a-year-of-transformational-change-for-ipsidy-but-still-sees-rise-in-revenues-193303.html
<![CDATA[News - Ipsidy wins contract to introduce its biometric finger-printing systems in Zimbabwe election ]]> https://www.proactiveinvestors.com/companies/news/193263/ipsidy-wins-contract-to-introduce-its-biometric-finger-printing-systems-in-zimbabwe-election-193263.html Ipsidy Inc. (OTCMKTS:IDTY) has inked a contract with Zimbabwe’s Electoral Commission to introduce its biometric fingerprint-matching voter registry system in the country’s upcoming general elections.

The company won a competitive international tender for the use of this technology after Zimbabwe’s Electoral Commission set out to search for a system that uses algorithms to make sure voter rolls are accounted for properly and not subject to duplication.

Zimbabwe elections to be held before end of August

The introduction of Ipsidy’s system will allow Zimbabwe to conform to national and international election standards.

“We are very pleased to have been selected by the ZEC to provide this critical solution, ahead of all competitors under the tender,” said Thomas Szoke, chief technology officer, in a statement. “This award represents the continued recognition of the efficacy and value of Ipsidy’s identification platform, software and services in the African election market.”

READ: Identity authentication group Ipsidy partners with Datapro to launch IdLok in Latin America

General elections to elect Zimbabwe’s president and members of parliament are set to be held in Zimbabwe before the end of August. Emmerson Dambudzo Mnangagwa is the current president of Zimbabwe, having replaced Robert Mugabe, who resigned last November.

The company’s biometric fingerprint-matching technology has also been used to verify voter rolls for national elections in Guinea.

In Colombia, meanwhile, Ipsidy’s technology refills bus transit cards and provides transaction processing for electronic money transfers and bill payments for the country’s postal service.

On Thursday, shares in Ipsidy closed down less than a percent to US$0.31.

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Fri, 16 Mar 2018 07:00:00 -0400 https://www.proactiveinvestors.com/companies/news/193263/ipsidy-wins-contract-to-introduce-its-biometric-finger-printing-systems-in-zimbabwe-election-193263.html
<![CDATA[News - Ipsidy confirms which conferences it is attending in March ]]> https://www.proactiveinvestors.com/companies/news/192855/ipsidy-confirms-which-conferences-it-is-attending-in-march-192855.html March is set to be a busy period for the board of Ipsidy Inc (OTCMKTS:IDTY), after the identity management and authentication group revealed which conferences it is attending this month.

Philip Beck and his team will head to the Craig-Hallum Capital Group’s FinTech Innovators Conference at the Langham Hotel in Boston on March 15 to discuss the future of banking.

READ: Ipsidy partners with Datapro to launch IDLok in South America

Ipsidy will also exhibit at the 2018 KNOW Identity Conference at the Ronald Reagan Building and International Trade Center in Washington, D.C. from March 26 through to March 28.

This particular conference is the “nexus for identity innovation” which brings together some of the smartest minds and most influential organizations in the industry.

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Thu, 08 Mar 2018 08:15:00 -0500 https://www.proactiveinvestors.com/companies/news/192855/ipsidy-confirms-which-conferences-it-is-attending-in-march-192855.html
<![CDATA[News - Identity authentication group Ipsidy partners with Datapro to launch IdLok in Latin America ]]> https://www.proactiveinvestors.com/companies/news/192608/identity-authentication-group-ipsidy-partners-with-datapro-to-launch-idlok-in-latin-america-192608.html Ipsidy Inc (OTCMKTS:IDTY) is partnering with software systems developer Datapro to launch its IdLok identity authentication service in Latin America.

IdLok helps its users to authenticate the identity of the person on the other side of everyday transactions. It is specifically designed for account customers of financial institutions to provide them with simplified, secure access using their mobile device.

READ: Ipsidy riding wave of identity authentication

Monday’s tie-up will see Datapro offer IdLok as part of its e-IBS core banking solution for its financial institution clients in Latin America.

“Ipsidy is pleased to partner with Datapro to launch IdLok throughout the Latin American market,” said chairman and chief executive Philip Beck.

“This joint offering, when implemented, will further our goal of delivering solutions that provide the highest level of transaction security, control and certainty that is required to operate in the critical financial sector.”

Datapro’s chief technology officer, Javier Montero, added: “Our clients seek innovative solutions that protect their customers’ accounts and give them enhanced and convenient control over access to their money. We believe that IdLok will provide our clients with secure identity authentication that achieves these goals in an efficient way.”

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Mon, 05 Mar 2018 08:22:00 -0500 https://www.proactiveinvestors.com/companies/news/192608/identity-authentication-group-ipsidy-partners-with-datapro-to-launch-idlok-in-latin-america-192608.html
<![CDATA[News - Identity management group Ipsidy moves up to OTCQB exchange ]]> https://www.proactiveinvestors.com/companies/news/192462/identity-management-group-ipsidy-moves-up-to-otcqb-exchange-192462.html Facial recognition and identity management group Ipsidy Inc (OTCQB:IDTY) has made the step up to the OTCQB exchange, having previously been listed on the Pink market.

The move reflects the progress made by chief executive Philip Beck and his team since they arrived last year.

IN-DEPTH: Ipsidy riding the wave of identity authentication

Ipsidy booked sales of US$1.8mln for the first nine months of 2017, up from US$1.4mln a year earlier, while net losses halved to US$2.1mln in the third quarter.

Four new pilot products – Concierge Identity Services, Financial Transaction Authentication, Identity & Account Authentication, and a Mobile Payment Ecosystem – are due to be rolled out shortly and should help to keep the momentum going in 2018.

“Ipsidy is pleased to have been upgraded to the OTCQB venture market,” Beck told Proactive.

“This shows an additional commitment by the company to providing transparency and current information to investors.”

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Thu, 01 Mar 2018 12:19:00 -0500 https://www.proactiveinvestors.com/companies/news/192462/identity-management-group-ipsidy-moves-up-to-otcqb-exchange-192462.html
<![CDATA[News - Ipsidy Inc. rides the wave of identity authentication ]]> https://www.proactiveinvestors.com/companies/news/192460/ipsidy-inc-rides-the-wave-of-identity-authentication-192460.html In a small seaside community known more for surfing than tech innovation, Ipsidy Inc. (OTCMKTS:IDTY) is riding the wave of multi-factor authentication and identity management.

“Todays mobilised world enables identity to approve everyday transactions,” said Chairman and CEO Philip Beck in an interview at the company’s headquarters in Long Beach, N.Y. “We are building an Identity Transaction Network centred around our platform. My team’s track record of the last 20 years has been to partner with large institutions and provide them with a real-time transaction platform to authenticate transactions. We’re doing it with identity now.”

After the massive hacks of Equifax Inc. (NYSE:EFX), Target Corp. (NYSE:TGT) and Home Depot (NYSE:HD), Beck and the Ipsidy team saw a huge market for the company’s proprietary biometric technology and beyond.

Founded in 2011 as ID Global Solutions Corp., Beck and Chief Financial Officer Stu Stoller came on board in 2017 and re-imagined the company as Ipsidy Inc. -- a play on the Latin word “ipse,” which means self -- and together with the original founder Tom Szoke and his team built a suite of new authentication products around its core of existing applications.

The company’s business was the legacy of its roots as ID Global Solutions, which provides biometric fingerprint-matching technology for the U.S. Transportation Safety Administration. It has also been used to verify voter rolls for national elections including Zambia and Guinea, and was recently selected in a competitive tender for Zimbabwe.

The acquisitions of MultiPay in 2015 and CardsPlus in 2017 bolted on transactional routing and credentialing products. In Colombia, its technology refills bus transit cards and provides transaction processing for electronic money transfers and bill payments for the country’s postal service.

Beck and his team are not newcomers to multinational transactions and authentication. He started Planet Payment Inc. in 1999 and built it into a Nasdaq-listed company before it was sold in 2017.

Building an Identity Transaction Platform

Four new product pilots comprise the core of Ipsidy’s mobile authentication business: Concierge Identity Services, Financial Transaction Authentication, Identity & Account Authentication, and a Mobile Payment Ecosystem.

Beck said that the company will be rolling out its pilot products in tandem with its debut on the OTC:QB exchange March 1. To better identify itself in the identity space, the company recently changed its ticker from IDGS to IDTY, a play on the word “identity.”

The new products are impressive.

In a visual demonstration at the company’s sleek and stylish home office -- nestled in a tech incubator called Bridgeworks that Beck and his son also founded -- Beck’s team showed how a front-desk concierge in a building could instantly authenticate a visitor and  control access to the building using only a Bluetooth beacon and the smartphones and Internet-enabled devices already in their possession.

“We’re aspiring to ensure that identity can be used any way the owner needs to use it, and relied on by all the people that need to verify your identity,” Beck said.

The current identity authentication process is cumbersome and still paper-based. For example, in a physical location building visitors are required to present an ID, such as a driver’s license, and then the concierge manually enters the data into a networked system to issue a paper badge or stick-on label to gain entrance.

With the Access by Ipsidy solution powered by the company’s  IDLok authentication technology system, it’s as easy as taking a selfie.

Using the company’s free smartphone app to register, Bluetooth beacons pick up a signal when visitors enter the building and by using Ipsidy’s proprietary  technology via the smartphone’s camera, the biometric authenticator recognises and transmits the visitor’s photo and ID info to the concierge, who can monitor the activity on a smartphone or smartpad.

“The conversation has subtly changed from just focusing on security and hacking to the importance of verifying identity in order to do security,” Beck said. “If you don’t know definitively who you’re dealing with, how can you do security? Identity sits at the top.”

Ipsidy operates in a sector they call Identity Solutions as a Service, or IDSaaS. In addition to integrating Ipsidy’s service as a black box, using available APIs and SDKs, Ipsidy also provides an out-of-the-box solution that uses tech already in everyone’s possession, Beck said.

The company’s Identity Transaction Platform sits between the entity requiring authentication and the user seeking access using the user’s own cell phone. It works just as well for internet-based banking transactions as well as physical locations

Monetising the identity space

Ipsidy has raised about $20 million from investors, Beck said, and in November the company booked sales of $1.8 million for the first nine months of 2017, up from $1.4 million a year earlier. For the third quarter, Ipsidy halved its net loss, to $2.1 million from $4.3 million in the year-ago period.

The addressable market is huge, he said, comprised of all smartphone users in the world, a number of whom could potentially enroll more than once with Ipsidy customers. Industry experts estimate the market size to be in the order of $32 billion on various metrics.

“Identity authentication should be as ubiquitous as electronic payments,” Beck said.

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Thu, 01 Mar 2018 10:58:00 -0500 https://www.proactiveinvestors.com/companies/news/192460/ipsidy-inc-rides-the-wave-of-identity-authentication-192460.html