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: Shareholders@truststamp.ai
Andrew Gowasack, President: agowasack@truststamp.ai
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 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).
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