Since its inception in 2016, Trust Stamp had the ambition to go global. Dual headquartered across the Atlantic, the company set up an innovation center in Malta in 2020, which will host Trust Stamp’s public-benefit subsidiary AiiD that will provide technology to NGOs and governments across Africa. Trust Stamp’s CEO, Gareth Genner tells us more about the company’s exciting plans for the future.

For those that don’t know Trust Stamp, can you provide some background on the company?

Trust Stamp creates transformational technology that accelerates secure societal and financial inclusion through widely accessible, privacy-preserving identity solutions that reduce fraud, improve user experience and promote global financial opportunity. Our core technology irreversibly transforms sensitive data to maximise privacy and utility, allowing organisations to protect themselves and their users with secure, efficient, and interoperable identity systems, anywhere in the world, online and offline. For banks and fintech, we provide low friction, secure, and efficient onboarding, KYC/AML, and account access tools while deterring and reducing stolen & synthetic identity and other frauds.

We are currently located in seven countries across North America, Europe, Asia, and Africa, and trade on the OTCQX Best Market in the US and Euronext Growth in Dublin. Trust Stamp was founded in 2016 and now has an 80-person team with strong technical expertise in AI, biometrics, data science, and software engineering, along with extensive experience in leadership, corporate development, and international business.

Can you share a little-known fact about Trust Stamp?

Our core culture is that nothing is impossible – we have an unofficial motto “if it does not contravene the laws of Physics as we know them today, it is simply a question of time and resources”. The more folksy Americana version is “the horse might talk”, but you will have to ask me to explain that in person!

What are you currently working on and what are your company’s plans and strategic priorities for the coming years?

The demand for secure, low-friction identity solutions has massively grown alongside addressable needs, with virtual interactions becoming the norm in banking, payments, healthcare, and more. Our core technology is well-positioned to underpin secure digital operations with proven cross-industry success, and we now aim to penetrate the market further. One key component to this organic commercial growth involves expanding the reach of our technology through channel partnerships.

In parallel, our progress throughout 2020 and 2021 has opened great opportunities for growth through acquisition. Trust Stamp made its first acquisition as a publicly listed company earlier this year, and the strategic rationale for such transactions remains strong. Our innovative IP portfolio provides targeted solutions with a multi-faceted approach to establishing secure, compliant and comprehensive identity and risk management systems. Strategic acquisitions further our ability to address clients’ needs in-house and expand the capabilities of our products and team.

Are there any projects/achievements of your company that you are exceptionally proud of?

I am incredibly proud of our team’s resilience in addressing cross-industry needs that were highlighted as a result of the pandemic but will ultimately persist into the “new normal”. We pivoted efforts towards adapting our core technology to address needs in previously peripheral verticals including travel and healthcare, and we are now pursuing opportunities to launch proof of concept and pilot projects in partnership with commercial entities and government organisations around the world.

What in your opinion makes Malta an effective jurisdiction to set up a business?

Malta’s location, EU membership, and strategic relationship with countries in Africa support our goal of promoting financial inclusion with access to emerging markets and globally innovative partners. The country has a long-term commitment to working with a number of African governments, and there are tremendous opportunities for us to partner with both the government of Malta and other Maltese enterprises.

Malta’s commitment to grow the technology industry makes it a great environment to innovate alongside like-minded organisations, while working closely with relevant authorities to shape a cross-sector understanding of emerging technologies. As the global use of AI and biometrics rapidly evolves, Malta has the flexibility to lead practical advancement by establishing the sound regulatory framework necessary for innovations to thrive on a global scale.

What kind of people/companies in the financial services community would you want to connect with?

In addition to meeting potential clients for our existing technologies, we are also seeking partners in innovation to test new product ideas, or even co-develop new technologies and product implementations.

Bio:

With over 20 years’ experience in founding, operational, and advisory capacities, Gareth Genner provides Trust Stamp with technical, managerial, and visionary skills, as well as legal expertise. Gareth has successfully conceptualised, implemented, scaled, and exited multiple businesses. A British lawyer by training, Gareth holds a U.S. LLM in International Taxation & Financial Service Regulation.

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