Ipsidy and Intercredit Bank Pilot for CardLok – Identity Authentication Service for Banks
Identity Authentication Service for Banks
LONG BEACH, NY and MIAMI, FL. November 15, 2017. Ipsidy Inc. (authid.ai) [OTC: IDGS], (formerly known as ID Global Solutions Corporation), a provider of secure, biometric identification, identity management and electronic transaction processing services, and Miami-based Intercredit Bank, N.A., today announced they will launch a pilot in December deploying CardLok, Ipsidy’s biometric, multifactor, identity authentication service for financial institutions.
Ipsidy’s identity transaction platform helps our customers verify and trust that the identity of the person on the other side of everyday transactions was duly verified. The platform facilitates a range of everyday transactions, including payments, votes, or physical or digital access, embedded with the participant’s authenticated identity. IdLokTM is our suite of fully-managed, biometric multi-factor mobile applications that provide users with a frictionless identity authentication experience that puts them in control of their identities using their own device. CardLok is an application specifically designed for use by financial institutions to protect their customers’ transactions and provide consumers with simplified, secure access using a mobile device.
Intercredit will initially offer CardLok to its clients with debit-card accounts and thereafter look to utilize CardLok and IdLok and their identity authentication capabilities to enhance security and efficiency in other parts of its operations.
“We are excited to launch the CardLok program and thereby become the first bank in the United States to utilize this technology” said Simon Cruz, President & CEO of Intercredit. “Identity and cyber security are major issues in the financial services industry. We place paramount importance on identity verification and therefore technologies that can help us achieve that are in high demand. Our customers are also seeking solutions that protect their accounts and give them control over access to their money, in a convenient way. We believe that CardLok and IdLok offer our customers secure identity authentication that is easy to implement, enhances the Bank’s mobile banking offering and gives our customers a userfriendly experience and peace of mind.”
Philip Beck, Chairman and CEO of Ipsidy said “Ipsidy is pleased to partner with Intercredit Bank to launch CardLok in the United States. Our forthcoming pilot furthers our goals of delivering solutions that provide the high level of transaction security, control and certainty that is required to operate in the critical, financial sector.”
About Intercredit Bank
Intercredit Bank, N.A. is a Miami-based bank founded in 1992 and is a full-service commercial and consumer financial institution providing high-quality and personalized banking services to its corporate and consumer clients – including Online Banking, Bill Payment, Money Transfer System, Phone Banking, Lending Center, Investment Center, and International Banking Center – and in so doing, seeks to utilize the best technology available to ensure its clients receive efficient, first-class service.
Ipsidy is a provider of secure, biometric identification, identity management and electronic transaction processing services. Ipsidy is headquartered in New York and has operating subsidiaries: MultiPay in Colombia, www.multipay.com.co and Cards Plus in South Africa, www.cardsplus.co.za. In a world that is increasingly digital and mobile, our vision is to enable solutions that provide pre-transaction verification of identity as well as embed identity verification within every electronic transaction message processed through our platform, or other electronic systems. We believe that it is essential that businesses and consumers know who is on the other side of an electronic transaction and have an audit trail, proving that the identity of the other party was duly verified. We are therefore developing solutions intended to provide our customers with the next level of transaction security, control and certainty for everyday transactions. Further information on Ipsidy can be found at authid.ai or contact us at firstname.lastname@example.org.
Philip D. Beck, Chairman, CEO & President PhilipBeck@ipsidystaging.wpengine.com
Intercredit Bank N.A.
Simon Cruz, President & CEO email@example.com
Notice Regarding Forward-Looking Statements
Information contained in this announcement may include “forward-looking statements.” All statements other than statements of historical facts included herein, including, without limitation, those regarding the future Pilots, contracts, sales and service launches with customers and new initiatives and customer pipeline are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding Ipsidy’s present and future business strategies, and the environment in which Ipsidy expects to operate in the future, which assumptions may or may not be fulfilled in practice. Implementation of some or all of the new services referred to is subject to regulatory or other third-party approvals. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the risk that implementation, adoption and offering of the service by customers, consumers and others may take longer than anticipated, or may not occur at all; changes in laws, regulations and practices; changes in domestic and international economic and political conditions and others. Additional risks may arise with respect to commencing operations in new countries and regions, of which Ipsidy is not fully aware at this time. See the Company’s Annual Report Form 10-K for the Fiscal Year ended December 31, 2016 filed at www.sec.gov for other risk factors which investors should consider. These forward-looking statements speak only as to the date of this announcement and cannot be relied upon as a guide to future performance. Ipsidy expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.