Trua's new patented innovation for creating trust profiles enables real-time verification and user-controlled data sharing to enhance compliance and reduce fraud risks.
MCLEAN, Va., Oct. 16, 2024 /PRNewswire-PRWeb/ -- Trua, a pioneer and leader in reusable, verified, digital trust credentials, today announced it has been granted a patent for its innovative method of creating dynamic trust profiles with a first-party, consumer-centric workflow, where an individual directly verifies and manages their own personal data during identity verification and screening. This sixth patent for Trua introduces a groundbreaking approach that is set to transform the screening process by providing greater transparency, control and security for individuals while enhancing trust and reliability across digital ecosystems.
"This patent represents a revolutionary shift in screening—moving away from cumbersome, one-time, third-party background screening to an intelligent, dynamic trust verification system that adapts in real-time to evolving risk factors," said Trua CEO Raj Ananthanpillai. "It not only enhances trust but also creates a seamless, user-friendly experience that can be applied across a wide range of industries, from gig platforms to financial services to digital marketplaces."
Traditional screening and identity verification typically involve a single check of a person's background based on static information, which doesn't change over time. This usually includes data like name, Social Security number, address or a government-issued ID like a driver's license or passport. To verify a person's identity, the information is collected once and then compared against databases, such as criminal records or credit reports. After the check is completed, the data can become outdated or incomplete over time. The traditional process also typically requires the person to share the same personal information over and over again with different companies or organizations, especially for millions of gig workers.
Trua's dynamic trust profiles are built using a sophisticated process that combines biographical, biometric and relevant data related to potential risk factors, such as financial history, criminal and civil background checks and other indicators of trustworthiness. The result is a comprehensive trust profile that continually updates to reflect the most accurate and current risk factors. This real-time evaluation ensures that users' trust profiles remain up-to-date, which allows for more precise and reliable identity verification and screening depending on the use case.
Trua's approach also empowers users to take control of their personal information. With full transparency, users can review and selectively share their verified trust profile and Trua score with evaluators such as employers or digital marketplaces. Trua's privacy-preserving approach enables users to control which personal information is shared, reducing the need for relying parties to collect and store unnecessary personally identifiable information (PII).
"Our dynamic trust profiles help organizations save money by reducing compliance and regulatory risks and decreasing the chances of lawsuits," said Ananthanpillai. "By reshaping how trust is built, verified and shared, Trua's patented approach makes identity verifications and screenings more transparent and efficient. This not only strengthens protection against fraud and identity issues but also boosts overall operational efficiency."
About Trua
Trua is a pioneer and leader in reusable, verified digital trust credentials for identity verification, user authentication, fraud detection and background screening. TruaID™ and TruaScore™, Trua's two flagship products, are the first digital verification solutions that are portable, reusable and continuously updated, allowing individuals to store and repeatedly share verified trust credentials securely across different organizations and platforms. Combining advanced encryption, novel authentication technologies, layered security and a comprehensive verification process, Trua holds several patents for its technological innovations and leverages blockchain technology to create an inalterable identity record with an auditable chain of custody. Trua's technology is proven to save organizations substantial costs in operations, risk mitigation, regulatory fines and potential litigation. Trusted by Fortune 500 organizations in financial services and healthcare and providers of critical infrastructure, marketplaces and digital platforms, Trua is transforming how businesses and organizations interact with individuals to verify their identity and create trust credentials. Trua is based in the greater Washington, D.C. metro area. For more information, visit https://truame.com/.
Media Contact
Michael Tebo, Gabriel Marketing Group (for Trua), 703-829-6089, [email protected]
SOURCE Gabriel Marketing Group (for Trua)
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