Ipsidy Inc (OTCQB:IDTY) CEO Phillip Kumnick told shareholders on Friday that the company is excited about the demand for its mobile biometric platform services.
“2020 was a challenging year for all of us, and I want to express our empathy and support for those who continue to suffer from the physical and financial effects of the pandemic,” Kumnick said in a statement announcing the date of the firm's annual general meeting.
“2020 was also a period of significant transition for Ipsidy. I am proud of how the team at Ipsidy worked together to position our company for success in 2021," he added.
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Ipsidy operates an Identity-as-a-Service platform that delivers a suite of secure, mobile, and biometric identity solutions.
Kumnick noted that Ipsidy believes the mandates and additional opportunities secured by it will start to come to fruition in 2021.
“We are very excited about the growing demand for our mobile biometric platform services and the future of our company,” the CEO said.
Long Beach, New York-based Ipsidy will hold its annual shareholder meeting virtually on March 15, 2021. The company said it plans to discuss the catalysts for a possible uplisting to a major exchange in the coming months at the meeting.
The firm is currently completing implementation for the launch of its solution with an international bank, planned for the first quarter of 2021. The solution will deploy Ipsidy’s biometric identity verification and FIDO compliant strong authentication services for remote digital onboarding, elimination of account passwords, and combating of identity fraud for their international banking customers.
Additionally, Ipsidy is completing an integration effort with LoginID between its biometric identity verification platform and the LoginID FIDO as a Service platform. The combined solution is designed to deliver a FIDO2 strong authentication and password-free access solution that securely and automatically creates a digital chain of trust between biometrically verified individuals, their accounts, and their devices.
Shares of Ipsidy were up 27.2% in over the counter trading on Friday morning at $0.22.
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