Nasdaq Listed Trust Stamp opens European office in Denmark
Nasdaq Listed Trust Stamp opens European office in Denmark

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Signed, sealed, and encrypted: Nasdaq Listed Trust Stamp opens European office in Denmark

Case

Signed, sealed, and encrypted: Nasdaq Listed Trust Stamp opens European office in Denmark

Digitalization and information technology have become increasingly important in the recent years, and with that, so has the need for digital identification. Digital Identity fraud is one of the fastest-growing criminal enterprises to infiltrate financial services in recent years. In finance, banks lose $40 billion a year because of synthetic and stolen identity fraud, with an additional $20 million lost to legitimate transactions failing legacy authentication. 

When

Trust Stamp is a global provider of AI-powered identification services for banking and finance, regulatory compliance, government, real estate, and humanitarian assistance, among other industries. Through unique data transformation and comparison capabilities, their technology empowers organizations with biometric identity solutions. They help prevent fraud, safeguard personal data privacy, boost operational efficiency, and reach a bigger range of users worldwide.

Invest in Denmark is proud to announce that Trust Stamp has chosen Denmark as location for their gateway to the European market. 

Why Denmark was a perfect match

"As a company focused on leading-edge technology enabling privacy-first identity verification, we were looking for an EU base from which we can create and offer GDPR-focused products throughout the EU. Denmark is probably the most advanced economy in the World in terms of effective digitization of government functions and also has in place comprehensive laws and regulations covering our areas of operation. Those facts combined signal an environment that would be fertile ground for our technology and a highly respected jurisdiction for potential exports."

Gareth Genner 

CEO of TrustStamp

Andrew Gowasack, President and Cofounder of TrustStamp 

Danish best practice: Safe and responsible testbed for new solutions 

Because of the enormous social impact AI will have in the future, both the Danish government and the private sector are determined to work towards ensuring that any future development and use of AI live up to democratic values and control mechanisms.

Denmark provides credibility, making it the ideal testbed for new solutions and a safe haven for establishing new technologies and functioning as a gateway for the European market.   

Support from Invest in Denmark

Invest in Denmark has supported Trust Stamp by providing information and guidance on how to establish a business in Denmark and framework conditions. Moreover, Invest in Denmark arranged a fact finding trip to Copenhagen and introduced Gareth Genner, Managing Director of Trust Stamp, to various relevant stakeholders in Denmark, while also providing knowledge on strategic locations and talent acquisition.

Did you know?

The European Commission chose Denmark to lead the work of setting common European requirements for the use of AI in the future.

The Danish Standards Foundation, which has worked to set common European standards for AI for several years, will lead the work. The new standards of AI must help to ensure a responsible link between technology and humans and the ethical use of data and algorithms.

In the coming years, companies and institutes will not become more aware of the responsibilities that accompany when implementing AI, but it will become a business necessity, as it does not only create trust among the customers but will also generate business value.

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