Privacy-first biometric technology transforms security, risk management, and fraud prevention for landlords and renters
ATLANTA, GA, May 17, 2022 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI, Euronext Growth: AIID ID), the Privacy-First Identity CompanyTM providing AI-powered trust and identity services used globally across multiple sectors, announces a partnership with letus (previously RentMoola), a cloud platform disrupting the rental industry with innovative financial solutions like flexible rent. Together, letus and Trust Stamp are transforming rental accessibility and risk management with secure screening and financial tools backed by leading biometric identity verification and data protection solutions.
letus empowers renters to balance their paychecks and build their financial status through flexible rent and credit bureau reporting while landlords collect rent on time and in full. With mom-and-pop ownership of over 20.5M rental units in the U.S. and synthetic identity fraud on the rise, this partnership addresses a massively underserved market with an accessible, convenient, and flexible payments infrastructure secured by cutting-edge privacy-first identity technology.
“We take the safety of our customers seriously. Now, we provide the highest level of protection used by S&P 500 banks, global financial institutions, and the United States government to our renters and landlords,”shares Karthik Manimozhi, CEO of letus.
Trust Stamp’s proven facial biometric verification, document validation, and data-protection technologies establish a robust risk assessment process to protect landlords from synthetic identity fraud attacks while reducing costs, friction, and intrusiveness when compared to traditional early-screening background checks. The Company’s first-of-its-kind biometric multi-factor authentication solution (Biometric MFATM) further layers streamlined security and data-protection into letus’s powerful suite of tools, including flexible rent, credit reporting, financial literacy tools, and more, that democratizes tenants’ access to financial services.
Trust Stamp President and Co-Founder Andrew Gowasack comments,“With secure, privacy-first identity frameworks central to furthering accessibility and establishing trust in any financial transactions, our partnership with letus marks another way Trust Stamp’s versatile technology can optimize operational and financial outcomes for both service providers and consumers.
Trust Stamp looks forward to furthering our impact in the real estate sector with letus as we continue to formvalue-added partnerships with like-minded companies driving innovation, access, and security.”
The partners were first introduced through NAR REACH, the global technology accelerator program created by Second Century Ventures (SCV) and backed by the National Association of REALTORS®. SCV became Trust Stamp's first corporate partner and investor when they participated in the Company's Pre-Seed round as part of the NAR REACH class of 2016 and has continued to drive growth through investment in Trust Stamp’s subsequent rounds of funding in 2017, 2020, and 2021.
With rapid uptake across North America in previous years, letus participated in the inaugural REACH Canada class of 2020 as RentMoola. Trust Stamp’s partnership with letus highlights SCV’s proven success in accelerating transformative technology companies in real estate and adjacent verticals and driving leading innovations in financial services, compliance, and security for a digitally transformed industry.
Dave Garland, Managing Director of Second Century Ventures, says, "This partnership highlights the growing impact of intersectionality between sectors throughout the entire real estate ecosystem. Technology built in adjacent industries, verticals or geographies will continue to drive efficiency and advancement across the property industry, which is the core of what our global Second Century Ventures and REACH portfolios seek to serve."
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About Trust Stamp
Trust Stamp, the Privacy-First Identity CompanyTM, 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 biometric identity 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 in seven countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market (Nasdaq: IDAI) and Euronext Growth in Dublin (Euronext Growth: AIID ID). Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 100 people.
About letus (previously RentMoola)
letus is a disruptive cloud platform offering flexible rent payments with credit reporting to democratize access to financial services through an Ecosystem of World-Class Partners.
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