Trust Stamp and Neural Payments partner to enhance fraud prevention and security in P2P transactions for banks and credit unions.
Quiver AI Summary
Trust Stamp has partnered with Neural Payments to enhance fraud prevention in the growing person-to-person (P2P) payment market, where 8% of banking customers reported being scammed in the past year. This collaboration integrates Trust Stamp’s low-code Orchestration Platform into Neural Payments’ services, providing advanced identity verification and selfie-based reauthentication for secure transactions. Andrew Gowasack from Trust Stamp highlighted the use of Irreversibly Transformed Identity Tokens to protect sensitive data without storing biometric information. Neural Payments serves nearly 80 financial institutions and is focused on proactive fraud mitigation, aligning with Trust Stamp's technology to improve security and user experience in P2P transactions. The initiative aims to support community banks and enhance compliance with modern payment demands.
Potential Positives
- Trust Stamp's partnership with Neural Payments enhances security for banks and their customers by integrating advanced identity verification and fraud prevention technologies.
- The collaboration positions Trust Stamp to capitalize on the growing P2P payment market, projected to reach USD 16.21 trillion by 2034, indicating significant growth opportunities.
- Trust Stamp’s AI-powered technology streamlines the payment approval process, improving user experience by simplifying authentication with selfie-based methods.
- This partnership aligns with the goals of the ICBA ThinkTECH Accelerator, reinforcing Trust Stamp's commitment to innovation and addressing pressing industry challenges.
Potential Negatives
- The press release highlights that 8% of banking customers have experienced P2P scams, indicating a significant vulnerability in the financial sector that Trust Stamp aims to address, which could reflect negatively on their reputation if not effectively mitigated.
- The emphasis on combating P2P fraud implies that there may have been existing weaknesses in Trust Stamp's technology or services, which prompted the need for this partnership.
- The heavy reliance on advanced technologies like AI for identity verification may introduce additional risks related to data privacy and security, raising concerns about the adequacy of existing safeguards.
FAQ
What is the partnership between Trust Stamp and Neural Payments about?
The partnership focuses on integrating Trust Stamp's low-code Orchestration Platform into Neural Payments for enhanced identity verification and fraud prevention.
How does Trust Stamp's technology reduce fraud risks?
Trust Stamp utilizes AI-powered identity verification, allowing users to enroll with facial recognition and government ID for secure payments.
What is the projected growth of the global P2P payment market?
The global P2P payment market is expected to reach USD 16.21 trillion by 2034, growing at a CAGR of 18.10% from 2025.
How are selfies used in the payment approval process?
Selfies are converted into Irreversibly Transformed Identity Tokens (IT2) for secure approval of future payments without storing sensitive biometric data.
Who benefits from this partnership?
Both banks and their customers benefit through improved security, simplified KYC processes, and a more seamless payment experience.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$IDAI Hedge Fund Activity
We have seen 0 institutional investors add shares of $IDAI stock to their portfolio, and 17 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC removed 589,917 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $7,815,220
- CITADEL ADVISORS LLC removed 231,390 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $3,065,454
- VIRTU FINANCIAL LLC removed 61,975 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $821,044
- RENAISSANCE TECHNOLOGIES LLC removed 17,000 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $225,216
- GEODE CAPITAL MANAGEMENT, LLC removed 9,977 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $19,355
- TOWER RESEARCH CAPITAL LLC (TRC) removed 7,568 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $100,260
- UBS GROUP AG removed 4,836 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $64,067
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
With 8% of all banking customers saying they’ve been victimized by a P2P scam in the last 12 months, Trust Stamp and Neural Payments partner to decrease the risk of fraud and make banks and their customers more secure
Atlanta, GA, June 30, 2025 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI) today announced a partnership with Neural Payments for the integration of Trust Stamp’s low-code Orchestration Platform. Neural Payments provides banks and credit unions with real-time person-to-person (P2P) payments, advanced fraud prevention, and flexible disbursement solutions. This integration provides robust Identity Verification for Know Your Customer (KYC) processes and selfie-based reauthentication for payments.
With the proliferation of popular P2P apps like PayPal, Venmo, Cash App, and Zelle, the global P2P payment market size is projected to hit USD 3.63 trillion this year and reach USD 16.21 trillion by 2034, growing at a CAGR of 18.10% from 2025 to 2034. Fraudsters have taken notice and are using combinations of generative AI and social engineering to intercept payments or trick users into voluntarily sending them money.
Andrew Gowasack, Trust Stamp’s President, commented, "I am excited to partner with Neural Payments to bring our AI-powered technology to the payment sector. Neural Payments has taken a proactive approach by enabling users to enroll using their face and government ID document, then to approve future payments with a selfie. Rather than storing sensitive biometric information, selfies are converted into Irreversibly Transformed Identity Tokens (IT2) which can be compared to future IT2. There is no need for callbacks, insecure one-time passcodes sent via SMS or email, or authenticator apps. Approving a payment is as easy as taking a selfie!”
Andrew Gowasack added, “Neural Payments already serves nearly 80 financial institutions, bringing the highest levels of security while removing friction for both payee and recipient. The Neural Payments team brings significant payments experience and top-tier technology. Financial institutions now have the convenience of security through Neural Payments, along with the strength of Trust Stamp’s identity fraud detection.”
Mick Oppy, founder and CEO of Neural Payments, commented, “At Neural Payments, we’re committed to making it easier and safer for banks and credit unions to offer the P2P experiences their customers demand. Fraud mitigation is no longer a passive issue for financial institutions - it’s a top concern that requires real-time and preemptive action. By integrating Trust Stamp’s cutting-edge identity verification directly into the payment flow, we’re equipping financial institutions with the tools to reduce fraud, streamline authentication, and keep their customers’ money and trust exactly where it belongs. With Trust Stamp, we're signaling our commitment to both our customers and our 2025 growth aspirations as we push towards becoming the FinTech of choice for P2P payments."
Both Trust Stamp and Neural Payments are graduates of the Independent Community Bankers of America (ICBA) ThinkTECH Accelerator. ICBA exclusively represents the nation’s nearly 4,500 community banks in the United States through its advocacy, education, and innovation pillars.
“Partnerships like this fulfill the promise of ICBA’s ThinkTECH Accelerator to drive innovation that addresses our industry’s most pressing challenges and opportunities,” said Charles Potts, ICBA executive vice president and chief innovation officer. “By combining advanced identity verification with seamless real-time payments, Trust Stamp and Neural Payments are delivering a solution tailored to community bank priorities—strengthening security, simplifying compliance, and elevating the customer experience.”
To learn more about the capabilities of Neural Payments, visit https://neuralpayments.com/solutions .
Enquiries
Trust Stamp - Email:
[email protected]
Andrew Gowasack, President: [email protected]
About Trust Stamp
Trust Stamp , the Privacy-First Identity Company TM , is a global provider of AI-powered identity services for use in multiple sectors, including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services. Its technology empowers organizations with advanced solutions that reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader base of users worldwide through its unique data transformation and comparison capabilities.
Located across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market ( Nasdaq: IDAI ).
Safe Harbor Statement: Caution Concerning Forward-Looking Remarks
All statements in this release that are not based on historical fact are “forward-looking statements” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events-based information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events .