How many corporate data breaches have occurred in the last 5 years? The answer is, A LOT! In the FinTech (financial technology) sector, a data breach like Equifax in the fall of 2017 put all of our identities and financial information in danger of being stolen. Furthermore, with so many of our financial transactions occurring across the internet, it’s becoming easier and easier for hackers to fake someone’s identity because the ID verification systems of our financial institutions are woefully behind the times and inadequate. When it comes to financial transactions, I don’t know you and I don’t know if I can trust you.
Ai + Biometrics + Blockchain = Identity Security
They built TrustStamp for exactly this purpose: to provide a trusted means of securing the identity of the individual on the other end of that financial transaction. The technology benefits both the individual and the FinTech provider. By combining a your selfie with biometric identifiers, TrustStamp can now verify that you are who you say you are. Somewhat like an SSL certificate on a trusted website, your very own “trust stamp” offers proof that you are you. And, TrustStamp stores your information securely using blockchain technology.
TAG Most Innovative Companies
The 3-minute presentation above is TrustStamp’s CFO preparing for the final presentation in the competition to be named “Georgia’s Most Innovative Company” by the Technology Association of Georgia (TAG). Here are the 10 finalists for the award. Combining Ai, biometrics, blockchain, and selfies for the FinTech market is pretty innovative. TrustStamp has also made it very easy for anyone to create their own verifiable trust score. This trust score is kind of like your FICO score, except that you control who sees it and what information the score is based on.
Alex has attended and practiced this pitch at Pitch Practice several times in preparation for the final presentation competition. That’s what Pitch Practice is for: to help you get better at articulating the value of your organization.