Ipsidy is Selected by PharmacyID to Deliver a High Assurance Identity Verification Solution in Australia
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LONG BEACH, NY and ESSENDON, AUSTRALIA, June 22, 2020 (GLOBE NEWSWIRE) -- Ipsidy Inc. (www.ipsidy.com) [OTCQB: IDTY], a leading provider of secure, mobile biometric identity solutions, including Identity as a Service (IDaaS) and PharmacyID, (www.pharmacyid.com.au) which operates a platform offering a trusted identity verification service through a network of over 2,500 pharmacies, have signed a partnership agreement to create an identity verification solution, with the highest level of assurance for the Australian market.
PharmacyID has over twenty years of experience in Australia and is accredited by the Australian Criminal Intelligence Commission (ACIC) to provide Police background check services and the Department of Home Affairs, Document Verification Service (DVS). PharmacyID seeks to enhance its current customer identity verification processes by combining Ipsidy’s trusted facial biometric, digital onboarding capabilities with their existing in-person verification of identity.
Identity theft and online fraud made up over 40% of cybercrime reports according to “Cybercrime in Australia” the 3rd Quarter 2019 report of the Australian Cyber Security Centre. Identity verification is essential in order to know who you are dealing with, as society moves towards ever more remote interaction and we become increasingly reliant on e-commerce and the Gig economy. PharmacyID aims to ensure Australian organizations, businesses and individuals are protected from the growing threat of identity fraud, by providing trusted face to face verification of identity with original documents, through its vast network of local pharmacies. The combined solution is aimed at public and private sector markets needing to prevent the prevalent ID fraud, particularly for welfare and Superannuation benefits claims and the financial industry.
Under the agreement, PharmacyID will integrate with Ipsidy’s IDaaS platform to add Ipsidy’s mobile biometric identity services to their platform. Proof by Ipsidy combined with the PharmacyID network will deliver a state-of-the-art facial biometric and document verification solution that will simplify and enhance the in-person identity verification services currently offered. The new service offers remote identity data capture and biometric matching, along with in-person validation by accredited pharmacy network personnel. The combined technology will allow PharmacyID to provide a solution that complies with Identity Proofing Level 4, (as defined by the Australian Digital Transformation Agency – TDIF Release Four) and EAL3 (as defined by NIST).
In addition, PharmacyID will offer a fully remote identity verification solutions for businesses that do not require the in-person validation of the highest assurance level. E-commerce businesses, such as ride-sharing applications, delivery, dating, and other online services who want to check the identity of their marketplace vendors and consumers, can use Ipsidy’s fully remote Proof service, as offered by PharmacyID to be sure who their customers are. Ipsidy’s solution offers greater convenience by allowing consumers to enroll with Pharmacy ID from the comfort of their home and delivers greater identity assurance with automated facial biometric matching of a selfie to the photo extracted from an Australian driver’s license.
Verified by Ipsidy will also augment the PharmacyID platform offerings with a strong, mobile multi-factor authentication solution, rooted to trusted identity sources obtained using Proof, to combat fraud in online transactions. Businesses and individual consumers can be comfortable that they will receive an efficient and secure service that offers the highest level of identity assurance and establishes mutual trust between all parties.
“Everything starts with trusted identity,” said Phillip Kumnick CEO of Ipsidy Inc. “Our identity platform offers innovative solutions that are flexibile, fast, and easy to use and integrate. The Agreement with PharmacyID marks Ipsidy’s first foray into Australia and demonstrates the ability of the Ipsidy platform to support customers around the world.”
“The remote online world is rapidly growing with validation of an individual’s identity creating the basis of a new form of trust.” said Geoff Stockton, PharmacyID Managing Director “By adding Ipsidy’s identity platform services to our platform, PharmacyID can provide an enhanced service with the highest level of trust, needed to address current and future customer demands in the Australian market.”
Ipsidy Inc. (OTCQB: IDTY) www.ipsidy.com 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 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 www.ipsidy.com. If you wish to join the Ipsidy partner network and resell our suite of mobile biometric solutions, contact Ipsidy at [email protected]
PharmacyID (www.pharmacyid.com.au) is a network of pharmacies throughout Australia that perform Verification of Identity (VoI) functions, much as they have done for the past 150 years, but with the addition of digital functionality, making their VoI more secure, efficient and traceable.
Geoff Stockton, a retired Victoria Police Inspector, set up PharmacyID for the purpose of pre-employment screening. Geoff soon found that people would go to great lengths to hide their true identities, so he formed PharmacyID. Many of our processes today that require a person to identify themselves are done solely with digital methods, and these processes are subject to fraud or Identity Theft.
PharmacyID fills the identity verification gap by combining the power of digital processes with a human face-to-face VoI. So, whatever application requires VoI, the digital processes are applied up to the point of having the person supply their documents of identity, in person, at a pharmacy. Once the documents, and the person, have been identified at the pharmacy, the process is complete. The whole process, from the start of the application to the VoI, is completely traceable and auditable.
For general enquiries, please email [email protected]. Our hours of contact are Monday to Friday 8.00 AM to 7.00 PM AEST
|Phillip Kumnick, CEO||[email protected]+1 (516) 274-8700|
|Claire Caldwell, Business Development Manager||[email protected]+61 3 9379 3383|
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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