Nametag platform verifies online identity of businesses and consumers with Multi-Factor Identity ™ and advanced biometrics

SEATTLE and NEW YORK, Sept. 28, 2021 / PRNewswire / – Nametag, a new platform that verifies the online identity of businesses and consumers using Multi-Factor IdentityTM and advanced biometrics, is the next generation of cybersecurity. Nametag allows individuals to have private, reusable identity verification on their phones so accounts are accessible and businesses can authenticate customers. Nametag never exploits or sells a user’s personal data and allows the user to decide where, when and for how long their data is shared with a company.

“Online privacy is a broken promise. Our mission is to bring authenticity to the Internet and enable people to build more reliable relationships, ”said Aaron Painter, founder of Nametag and former vice president of Microsoft China and CEO of Cloudreach.

Stolen passwords account for over 80% of security breaches, with data breaches costing businesses an average of $ 4.24 million per incident between May 2020 and March 2021, according to an IBM study, or 10% more than the total for the previous year. And the recently published report Identity theft in the United States: the harsh reality According to the Insurance Information Institute, identity theft is on the rise, costing $ 712.4 billion in 2020, a 42% increase from 2019.

The methods of backing up and keeping crucial information are outdated with dozens of passwords for online accounts stored haphazardly in various places. Nametag offers the gold standard in account authentication by fully verifying a person’s identity using a combination of a government-issued ID and very specific additional criteria.

Older approaches to identity verification focused on onboarding, with companies verifying an identity once and then allowing a person to use vulnerable credentials for future interactions. Nametag is reusable, giving a user the ability to log into a wide range of websites or applications throughout a user’s digital life, and the target site can immediately verify the user’s identity. every time he comes back.

Nametag offers additional benefits, so businesses can quickly authenticate their customer accounts with confidence and speed up customer onboarding and support with premium account protection. Nametag’s code-less platform makes it easy for businesses to reduce the risk of fraud loss and increase security by using state-of-the-art security protocols and APIs designed by developers, for developers.

The platform uses a proprietary technology called Multi-Factor Identity which keeps accounts secure, and is easy to access and retrieve using a unique, protected and reusable ID. With this ID, users can quickly and repeatedly access their high-value accounts, such as banking services, crypto wallets, games, and social media sites.

A key differentiator, Nametag puts privacy at the forefront and allows the user to approve or reject a request from companies requesting their data, giving the user full control and transparency over their identity. “We have a privacy policy that can be summed up in ten words: ‘We only share information when you specifically ask us to,” said Painter.

Nametag has undergone a rigorous testing process in all 50 states and is available for Android and iOS devices.

InvestorsThe investors behind Nametag include Glasswing Ventures, a venture capital firm that funds generation-defining companies harnessing the power of AI and cutting-edge technologies to transform markets and revolutionize industries, and Global Village, a company built on the strength of trusted networks and funded by some of the world’s most successful entrepreneurs.

The teamPreviously, Painter was CEO of Cloudreach and Vice President and General Manager of Microsoft China. He held leadership and management positions at Microsoft for almost 14 years in France, Brazil, Hong Kong, UK and Seattle.

Ross Kinder, CTO, is an experienced leader in security and identity engineering. He was a security researcher at CERT, distinguished engineer and deputy technical director for cloud at SecureWorks, and former co-founder of a single sign-on and identity provider.

David Adrian, Senior Engineer, is a former co-founder and head of engineering at corporate security startup Censys. He also holds a doctorate in computer security and applied cryptography.

The rest of the Nametag team is made up of industry leaders who bring deep experience in cybersecurity and enterprise solutions, including engineers, product designers, customer success experts and business development specialists, among others.

About the name tagNametag is the fast, secure and everywhere ID. Using sophisticated and proprietary AI-powered technology, Nametag verifies people, not passwords, creating the next generation of digital security. The app uses multi-factor identity, government identity verification, and biometric recognition to ensure that only users have access to their own data. Nametag never stores, sells or uses a user’s data. By prioritizing privacy, Nametag gives you, the consumer, control over how your personal information is shared and the power to choose when, where and for how long. For more information visit Psuedonym.

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