Intellicheck (Nasdaq: IDN) today announced a collaborative agreement with Ipsidy (OTCQB: IDTY) to offer an enhanced suite of comprehensive real-time facial biometric identity proofing and multi-factor authentication solutions for the North American market.
Under the new agreement, the companies can now offer expanded authentication with greater than 99% accuracy for any person-not-present transaction, whether on the web or in a mobile application. By combining Intellicheck's industry leading remote ID authentication with Ipsidy's best in class facial liveness and biometric matching services, clients will confidently know whether or not the person they are remotely dealing with is who they say they are.
Intellicheck CEO Bryan Lewis said, "Account takeover incidents jumped 74 percent in 2019 at a significant cost to consumers and merchants. The need to prevent identity theft and fraud will continue to grow and intensify. This new product offering is an effective and efficient answer to the surging incidents of account takeovers throughout North America."
Lewis noted that, "Authentication and verification must be top of mind across the lifetime of an account. To protect the business and consumer, you must first establish that the consumer opening an account has a valid form of government issued ID and then through facial biometric matching confirm that the consumer is in control of that ID. But account opening ID authentication is just the first step. There is an ongoing need to protect the business and the legitimate account holder from fraudulent account takeovers. Every request that could signal account takeover must be authenticated to prevent fraudsters from inflicting costly damage. This partnership provides multiple tools to do so."
Ipsidy CEO Phillip Kumnick said, "Everything starts with trusted identity. Our identity platform delivers a suite of services that help our customers quickly and accurately establish this foundation of trust. Intellicheck is well known for their leadership in providing real-time ID authentication. This agreement brings together both service offerings to effectively deter identity fraud and account takeover in today's digital world."
Intellicheck is an industry leading company focused on delivering proven, real-time identification authentication and age verification technology solutions for in-store, on-line and mobile environments, while providing a frictionless customer experience. Ipsidy is a provider of an Identity as a Service (IDaaS) platform and a suite of secure, mobile, biometric identity solutions.
Intellicheck's real-time authentication technology solutions have proven more than 99% effective in stopping identity theft and fraud. The company's state-of-the-art technology solutions protect many of the nation's top financial services companies as well as credit card issuers, payment providers, more than 23,000 retail locations representing the most prominent national and community-based retail brands, restaurants, automotive dealers, health care providers, law enforcement agencies and members of the U.S. military. The company's technology solutions have been equally effective in preventing underage access to age-restricted venues and products including alcohol, cannabis, vaping and traditional tobacco products in brick-and-mortar and mobile settings.
Intellicheck (Nasdaq: IDN) is a trusted industry leader in technology solutions that stop identity theft and fraud with real-time identification authentication and age verification. We make it possible for our clients to increase revenues, improve customer service, and increase operational efficiencies. The company is focused on partnering with banks, credit card issuers and retailers to prevent fraud. Intellicheck also serves law enforcement agencies, national defense clients and diverse state and federal government agencies. For more information on Intellicheck, visit http://www.intellicheck.com/ and follow Intellicheck on LinkedIn, Twitter, Facebook, and YouTube.
Contacts:Intellicheck Media and Public Relations: Sharon Schultz (302) 539-3747Intellicheck Investor Relations: Gar Jackson (949) 873-2789
Ipsidy Inc. (OTCQB:IDTY) www.ipsidy.com, is Digital Identity. Ipsidy's mission is to ensure our customers know the identity of their users with biometric certainty. Our Identity as a Service (IDaaS) platform delivers a suite of secure, mobile, facial biometric identity solutions, available to any vertical, anywhere. Our robust identity verification and authentication solutions work great on their own but even better together to help answer everyday questions: Who is applying for a loan? Who is sending money? Who is requesting an account change? Ipsidy is committed to providing seamless, accurate and speedy identity solutions that establish security and trust in today's digital world.
Ipsidy is headquartered in New York and has operating subsidiaries: MultiPay in Colombia, www.multipay.com.co; Cards Plus in South Africa, https://cardsplus.co.za/; Ipsidy Enterprises in the U.K and Ipsidy Perú in Peru. Further information on Ipsidy can be found at www.ipsidy.com. If you wish to join the Ipsidy partner network and resell our suite of mobile biometric solutions, contact Ipsidy at email@example.com.
ContactCEO and Deputy Chairman, Phillip Kumnick (516) 274-870
Intellicheck Safe Harbor Statement
Statements in this news release about Intellicheck's future expectations, including: the advantages of our products, future demand for Intellicheck's existing and future products, whether revenue and other financial metrics will improve in future periods, whether Intellicheck will be able to execute its turn-around plan or whether successful execution of the plan will result in increased revenues, whether sales of our products will continue at historic levels or increase, whether brand value and market awareness will grow, whether the Company can leverage existing partnerships or enter into new ones, whether there will be any impact on sales and revenues due to an epidemic, pandemic or other public health issue and all other statements in this release, other than historical facts, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These statements, which express management's current views concerning future events, trends, contingencies or results, appear at various places in this release and use words like "anticipate," "assume," "believe," "continue," "estimate," "expect," "forecast," "future," "intend," "plan," "potential," "predict," "project," "sense", "strategy," "target" and similar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would" are forward-looking statements within the meaning of the PSLRA. This statement is included for the express purpose of availing Intellicheck, Inc. of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as: market acceptance of our products and the presently anticipated growth in the commercial adoption of our products and services; our ability to successfully transition pilot programs into formal commercial scale programs; continued adoption of our SaaS product offerings; changing levels of demand for our current and future products; our ability to reduce or maintain expenses while increasing sales; our ability to successfully expand the sales of our products and services into new areas including health care and auto dealerships; customer results achieved using our products in both the short and long term; success of future research and development activities; uncertainties around the duration and severity of the COVID-19 outbreak and its ultimate impact on our business and results of operations; our ability to successfully market and sell our products, any delays or difficulties in our supply chain coupled with the typically long sales and implementation cycle for our products; our ability to enforce our intellectual property rights; changes in laws and regulations applicable to the our products; our continued ability to access government-provided data; the risks inherent in doing business with the government including audits and contract cancellations; liability resulting from any security breaches or product failure, together with other risks detailed from time to time in our reports filed with the SEC. We do not assume any obligation to update the forward-looking information.
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