Ipsidy - 2020 Annual Meeting of Shareholders

LONG BEACH, NY, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Ipsidy Inc. (www.ipsidy.com) [OTCQB: IDTY], a leading provider of secure, mobile biometric identity solutions, including Identity as a Service announced today that it intends to hold its Annual Meeting of Shareholders on March 15, 2021.

Ipsidy has filed its Preliminary Proxy Statement for the 2020 Annual Meeting and intends to issue the Notice of Meeting and Proxy Statement to shareholders in a few weeks, subject to any SEC comments. The notice, including the agenda and associated materials will also be posted on our website at https://www.ipsidy.com/sec-filing.

The 2020 Annual Meeting will be held virtually via livestream, where we intend to cover a number of structural corporate matters as described in the notice, including matters that will help us prepare for a potential uplisting to a national exchange in the coming months. Shareholders will be able to submit questions at the meeting via the livestream platform.  Further details will be provided in the shareholder mailing.

The following highlights Company activities in recent months that demonstrate execution of our sales strategy and demand for our solutions:

• Completing implementation for the planned Q1 2021 launch of our solution with an international bank, under our agreement signed in 2020. The solution will deploy Ipsidy’s biometric identity verification and FIDO compliant strong authentication services for remote digital onboarding, elimination of account passwords, and combating of identity fraud for their international banking customers.
• Finishing our integration effort with LoginID between our biometric identity verification platform and the LoginID FIDO as a Service platform in Q1 2021. The combined solution is designed to deliver a FIDO2 strong authentication and passwordless access solution that securely and automatically creates a digital chain of trust between biometrically verified individuals, their accounts, and their devices.
• Extended our agreement with Atos Origin FZ LLC, originally signed in 2020 in support of the Middle East region, to now include the resale of our identity verification and authentication services to telecom, media, utilities, and financial services sectors across the continent of Africa.
• Signed an agreement with Wipro a leading global information technology, consulting and business process services company, to help enterprise customers combat identity fraud and deliver seamless FIDO2 compliant Passwordless login tied to a proven identity.
• Managing a strong pipeline of RFP’s and contract proposals, which we look forward to closing in the coming months.
• Secured over $5 million of additional funding from existing and new investors in October 2020, through the issuance of common stock and warrants.
• Announced the availability of our biometric identity services to help US State agencies combat CARES Act benefits fraud and comply with recently enacted US Federal law that now requires the State agencies responsible for administering pandemic unemployment assistance (PUA) claims to verify the identity of applicants in an effort to reduce fraud.

“2020 was a challenging year for all of us, and I want to express our empathy and support for those who continue to suffer from the physical and financial effects of the pandemic,” said Phillip Kumnick, Chairman and CEO of Ipsidy Inc.  “2020 was also a period of significant transition for Ipsidy. I am proud of how the team at Ipsidy worked together to position our company for success in 2021.  Indeed, we believe the mandates and additional opportunities secured by Ipsidy will start to come to fruition in 2021, and we are very excited about the growing demand for our mobile biometric platform services and the future of our company.”