Ipsidy Appoints Phillip Kumnick as CEO and Philip Broenniman as President & COO. Philip Beck to Continue as Chairman

May 27, 2020

LONG BEACH, NY – May 27, 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 available to any vertical, today announced the following appointments and management changes.

  • Phillip Kumnick – Chief Executive Officer. Mr. Kumnick brings a wealth of industry experience to the position, with over 30 years as a senior executive in the payments industry. His most recent experience leading and growing Visa’s worldwide acquirer and merchant processing services and his focus as a product owner and developer of Visa’s critical entry into encryption, tokenization and biometric identity services at the POS, give him significant insight on how to further refine the Company’s global platform and product strategy.
  • Philip Broenniman – President and Chief Operating Officer. With over 25 years of experience as an investment manager, entrepreneur, and strategic advisor, Broenniman will help maintain the Company focus on execution of strategic goals and the delivery of Ipsidy products to the marketplace.
  • Philip Beck – Chairman of the Board. Mr. Beck, with extensive knowledge of the identity industry and platform operations, will focus on the strategic vision of the Company and how best to deliver on the potential of the Ipsidy technology.
  • Tom Szoke – Chief Solutions Architect. With 25 years of engineering, global sales and operations management, Mr. Szoke will take the lead on the technical aspects of Ipsidy’s sales activities and on ensuring platform solutions are designed to best meet customer needs.

The appointment of two seasoned executives to the Ipsidy management team reflects the continuation of the Company’s strategic vision of becoming a global leader in digital identity solutions. Working closely with the Board, the expanded management team will help Ipsidy accelerate delivery of its best-in-class IDaaS technology, product suite, and services.

I am excited about Ipsidy’s future,” said Phil Kumnick, CEO, Ipsidy Inc. “Our IDaaS platform offers tremendous potential for delivering innovative identity solutions. Supporting a range of market segments across both developed and developing markets and from face to face interactions to virtual transactions, our solutions deliver the greater identity certainty that today’s digital world demands.  I very much look forward to leading the Ipsidy team on execution of our plan.”

I am delighted that Phil Kumnick has agreed to assume the mantle of day-to-day leadership,” said Philip Beck, Chairman, Ipsidy Inc.  “He brings extensive global experience and depth of knowledge in data security services, technology product management, and platform development.  I look forward to continuing to work with him to help Ipsidy achieve our goals. We are also very pleased that Phil Broenniman has agreed to assume additional responsibility as we refocus and redouble our efforts to bring our products to the wider market.

Phil Broenniman, President and COO Ipsidy Inc. added “I believe that Ipsidy is well positioned to deliver innovative identity solutions that allow businesses to grow with reduced risk and greater identity assurance. I very much look forward to being an integral member of the Ipsidy team to help execute our strategic plan.

About Ipsidy:

Ipsidy Inc. (OTCQB:IDTY) authid.ai operates 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 at the door? 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, www.cardsplus.co.za; Ipsidy Enterprises in the U.K. and Ipsidy Perú S.A.C. Further information on Ipsidy can be found at authid.ai or contact us at sales@ipsidystaging.wpengine.com.


Ipsidy Inc.  
Phillip Kumnick, CEO phillipkumnick@ipsidystaging.wpengine.com
Philip Beck, Chairman philipbeck@ipsidystaging.wpengine.com
  +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 service launches with customers, the outcome of pilots and new initiatives and customer pipeline are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding Ipsidy 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, the as yet uncertain impact of the Covid-19 pandemic 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, 2019 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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