Mastercard Invests In AI-Powered Authentication Company Trust Stamp

By Dan Anderson ● February 1, 2020
  • AI-powered authentication services company Trust Stamp announced it has received a strategic investment from Mastercard

Trust Stamp — an AI-powered authentication services company based in the Advanced Technology Development Center (ATDC) at the Georgia Institute of Technology (Georgia Tech) has received a strategic investment from Mastercard. In 2018, Trust Stamp graduated from the 2018 Mastercard Start Path accelerator program.

“Our initial work with Mastercard has been focused upon enhancing privacy and data security in environments with low connectivity, and we have been impressed by the breadth and depth of Mastercard’s commitment to that space. The programs currently being developed have the potential to improve the lives of communities around the world and we are proud to be a key component of the underlying technology,” said Trust Stamp CEO Gareth Genner.

Trust Stamp is known for applying advanced cryptographic techniques and AI-powered presentation-attack detection tools to biometric and other identity data to create a proprietary non-PII Hash  (EgHash).

What is EgHash? EgHash is unique to the subject and provides a tokenized identity that cannot be reverse engineered, can be matched and deduplicated using Trust Stamp’s probabilistic AI, and verified via zero-knowledge-proofs.

Mastercard and Trust Stamp originally introduced their first collaboration with a secure non-PII authentication network for both online and offline environments at the June 2019 ID4Africa conference in Johannesburg, South Africa. And in November 2019, Mastercard’s Inclusive Identity solution was selected by Bloomberg as one of six “New Economy Solutions 2020” in emerging technology category.

“This is part of our commitment to make the digital economy work for everyone, everywhere,” added Shashi Raghunandan, Mastercard’s senior vice president for humanitarian and development programs. “Trust Stamp’s AI-powered technologies help us to provide our development sector partners with robust authentication solutions.”

Trust Stamp’s technology is used in multiple verticals, including humanitarian and development services, banking, financial tech, KYC / AML compliance, real estate, and law enforcement.