Ipsidy Announces Corporate Realignment – Phillip Kumnick to be Deputy Chairman

January 14, 2020

LONG BEACH, NY January 14, 2020. – Ipsidy Inc. (authid.ai) [OTCQB: IDTY], a provider of an Identity as a Service (IDaaS) platform and a suite of secure, mobile, biometric identity solutions, today announced a realignment of its corporate organization in order to better execute its customer acquisition goals.

As part of this realignment, the Company has initiated several management changes. Phillip Kumnick, who recently joined the Ipsidy Board, will assume a new role as Deputy Chairman of the Board. Mr. Kumnick served for 30 years as a senior executive in the payments industry, where he focused on product innovation and most recently managed Visa’s critical entry into encryption and tokenization products and services for their acquiring partners. As Deputy Chairman, Mr. Kumnick will work closely with the management team in executing the Company’s strategic plan.

In addition, Tom Szoke has assumed the position of Chief Operating Officer with responsibility for operations, sales and business development. Chris White, who joined the Company in 2018, has been appointed Chief Technology Officer. Chris will be responsible for overseeing all technology, development and IT operations at Ipsidy. This realignment is intended to increase operational efficiency and help Ipsidy take advantage of the opportunities which are currently presented.

This realignment will allow us to better leverage our strengths and approach the market faster,” said Philip Beck, Chairman and CEO Ipsidy Inc. “We are focusing our resources on the identity solutions we believe the marketplace is demanding, which we believe will drive growth in our business.”

Phillip Kumnick added, “Since my appointment to the Ipsidy Board, I have been working closely with the Ipsidy leadership team and believe that the Company’s IDaaS platform has tremendous potential for delivering innovative identity solutions which are so desperately needed in today’s digital world.  The changes announced today I believe will help Ipsidy realize that potential and I very much look forward to working with Philip and the Ipsidy leadership team to help them execute their plan.”

About Ipsidy

Ipsidy Inc. (OTCQB:IDTY) authid.ai is a provider of an Identity as a Service (IDaaS) platform that delivers a suite of secure, mobile, biometric identity solutions, available to any vertical, anywhere. In a world that is increasingly digital and mobile, our mission is to help our customers know with biometric certainty the identity of the people with whom they are engaging. We provide solutions to everyday problems: Who is applying for a loan? Who is accessing the computer system? Who is in my lobby? Identity creates trusted transactions. Ipsidy’s solutions embed authenticated identity and event details with a digital signature and participants use their own mobile device to approve everyday transactions. Our platform delivers identity solutions that work great on their own but even better together.

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 authid.ai. If you wish to join the Ipsidy partner network and resell our suite of mobile biometric solutions, contact Ipsidy at sales@ipsidystaging.wpengine.com.


Ipsidy Inc.  
Philip Beck, Chairman and CEO





+1 (516) 274-8700



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 financial position, business strategy, plans and objectives of management for future operations of both Ipsidy and its business partners, future sales, product 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, 2018 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.

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