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Trust Stamp wins $3.9M contract from the US Department of Homeland Security

Published: 07:55 27 Sep 2021 EDT

Trust Stamp Inc. -- wins $3.9M contract from the US Department of Homeland Security
Trust Stamp executive VP John Bridge said the company delivers 'secure, dignified, and streamlined biometric solutions that transform identity and trust frameworks to better meet the needs of all involved parties'

Trust Stamp (OTCQX:IDAID, EURONEXT:AIID) Inc., a provider of AI-powered trust and identity services, revealed that it has struck a fixed price purchase order totaling $3,920,764 from the US Immigration and Customs Enforcement (ICE) federal agency, which is under the US Department of Homeland Security (DHS).

Atlanta, Georgia-based Trust Stamp (OTCQX:IDAI, EURONEXT:AIID) will be responsible for providing mobile biometric services to ICE centered around its privacy-preserving data tokenization technology.   

The company said that with an outlined contract delivery period of the earlier of six months from the commencement date of September 27, 2021, or service delivery to 10,000 participants - and subject to a right of early termination for cause by ICE - it anticipates substantially fulfilling the performance obligations in the agreement in the 2021 financial year.

READ: Trust Stamp says its biometric privacy technology to serve millions of Africans

In a statement, Trust Stamp (OTCQX:IDAI, EURONEXT:AIID) executive vice president John Bridge said: "Trust Stamp delivers secure, dignified, and streamlined biometric solutions that transform identity and trust frameworks to better meet the needs of all involved parties. This contract award reflects the maturity of our innovative privacy-first approach to identity, along with our commitment to delivering accessible and equitable solutions that work for anyone, anywhere.”

“With proven success in large scale implementations, Trust Stamp looks forward to further demonstrating that the level of security and privacy provided by Irreversibly Transformed Identity Tokenization (IT2) is not only achievable across any biometric use case, but also poses immense benefits to cost and operational efficiency,” he added.

Bridge acknowledged the "company-wide efforts” to win the contract over the previous quarters of 2021, encompassing Trust Stamp's “business, technology, and compliance capabilities.”

“We hope to shift standards and expectations of the biometrics industry towards the user-centric protection critical for a globally inclusive digital reality that is built on trust," he added.

Trust Stamps’ technology empowers organizations with advanced biometric identity solutions that reduce fraud, protect personal data privacy, and increase operational efficiency. Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 80 people with flagship customers including Mastercard (NYSE:MA) International and FIS. It is located in seven countries across North America, Europe, Asia, and Africa.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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