Atlanta, GA, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), a global provider of advanced identity solutions, is pleased to announce the launch of a pioneering research initiative aimed at expanding its biometric cryptosystem, Stable IT2, to include contactless palm authentication. The Biometric Secure Module (BSM) project will further enhance security by integrating face and palm biometrics, providing a more resilient and privacy-centric authentication system.
Cyber-crime is on the rise, with global costs projected to reach $10.5 trillion by 2025. Trust Stamp's BSM project aims to address this growing concern by developing a biometric cryptosystem that offers high-entropy, secure authentication without the need to store sensitive biometric data. This ensures users' data remains protected even in the event of a device breach, as no cryptographic keys are stored directly on the device.
Project Biometric Secure Module (BSM) financed by Xjenza Malta, through the FUSION: R&I Technology Development Programme Lite, will span 18 months, with a start date of November 1, 2024. The funding covers 75% of the project cost, with the company contributing 25% from its own resources. By leveraging Trust Stamp's proprietary Stable IT2 algorithm, the BSM will generate cryptographic keys directly from facial and palm biometric features. This innovative approach maintains high security while minimizing the risks associated with device compromises.
Prof. Norman Poh, Chief Science Officer of Trust Stamp, emphasized the privacy advantages of this approach, stating, "By utilizing palm biometrics, we can generate secure keys from a biometric modality that is less publicly exposed than facial features. This provides an added layer of protection against unauthorized access.”
Prof. Reuben Farrugia, Research Director at Trust Stamp, outlined the significance of the research, noting that this project aims to deliver a software development kit (SDK) for Android devices. This SDK will allow integration of the Stable IT2 process into mobile applications, enabling secure on-device authentication. Additionally, the development of Trust Stamp's Orchestration Layer will provide seamless access to helper data, facilitating user-friendly biometric authentication.
Trust Stamp's BSM project represents a significant advancement in the field of biometrics, offering a robust solution that aligns with industry standards such as the FIDO Alliance's recommendations. With the combination of face and palm recognition, Trust Stamp is poised to redefine digital identity security, particularly for financial institutions, digital wallets, and identity access management providers.
About Trust Stamp: Trust Stamp is a global provider of AI-powered identity verification and authentication solutions. With a focus on privacy-first security, Trust Stamp offers innovative biometric technology to enhance digital identity management. For more information, visit www.truststamp.net.
About Xjenza Malta: Xjenza Malta is the government agency responsible for promoting and coordinating scientific research, technological innovation, and science communication in Malta.
Inquiries Email: [email protected]
Trust Stamp
David Grima
Director of Product Innovation, Trust Stamp
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