Ipsidy Inc (OTCMKTS:IDTY), a biometric identity solutions company, is teaming up with American Smart Systems & Networks Ltda (AS•NET) to bring Identity-as-a-Service offerings to its Colombian clients.
AS•NET, a digital transactions solutions company, has signed a memorandum of understanding to join the Ipsidy Partner Network and plans to integrate the company’s Proof and Verified biometric identity offerings into its services.
Proof lets a company scan identification documents from anywhere in the world using a mobile app, which allows a driver’s license or passport to then be used for facial matching purposes.
Verified, meanwhile, gives businesses the ability to receive biometric authentication from their customers to approve transactions, simply by having them take a selfie on their phone.
For AS•NET, the goal is to reduce fraud. The company has a wide consumer network of financial institutions, retail stores and multinational organizations.
"We are delighted to be working with AS•NET to offer our identity solutions in Colombia and the region," Ipsidy CEO Philip Beck said in a statement. "We believe that the integration of our respective solutions can provide a powerful combination to AS•NET's customers."
Ipsidy, based in Long Beach, New York and Bogota, Colombia, saw its shares surge more than 27% Tuesday to $0.11.
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