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Identity management group Ipsidy moves up to OTCQB exchange

Last updated: 12:19 01 Mar 2018 EST, First published: 07:19 01 Mar 2018 EST

man using facial recognition on phone
Ipsidy is a play on the Latin word ‘ipse’, which means self

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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