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

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.
An illustration of faces suggesting identification verification
Proof by Ipsidy provides remote mobile biometric identity verification

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 [email protected]

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