Fraudsters have access to fraudulent identification documents which allow them to pass siloed biometric systems. Annually, over $40 Billion lost to synthetic and stolen identity fraud and over $20 Billion lost to legitimate transactions failing legacy authentication
Legacy identity authentication takes place in a “silo” with matched data required for authentication. Data points used are virtually always PII and data leakage at one institution can invalidate authentication at multiple institutions.
Over 2 Billion people globally are undocumented & financially excluded, and 4 Billion people are financially under-served. This represents a potential $3.7 Trillion annual growth in global GDPR.
Trust Stamp's core biometric principles provide the framework to navigate the complex, evolving world of digital identity to ensure that our technologies are used ethically, are implemented equitably, and power solutions in line with Trust Stamp’s mission and vision.View Principles