authIDai Appoints Steven Fazio as SVP of Sales

DENVER, CO, Sept. 21, 2021 (GLOBE NEWSWIRE) â€" authID.ai, (Nasdaq: AUID) a leading provider of secure mobile, biometric identity authentication software, today announced that Steven J. Fazio has joined the team as Senior Vice President of Sales. Based in Southern California, Fazio is reporting directly to CEO Tom Thimot. In his new role, Fazio will lead authID’s world-class sales team and help the company expand into target markets, including banking, fintech, healthcare, insurance, travel, online gaming, and e-commerce.

An accomplished technology entrepreneur and managed services expert, Fazio has a track record of founding and building companies with recurring revenue streams. He brings 25 years of experience building and delivering security and infrastructure to top global companies, including American Express, Federal Reserve Bank of New York, Société Générale, Major League Baseball (MLB), Tommy Hilfiger, as well as a number of international banks.

“We are thrilled to welcome Steve to our team of experts who are committed to eliminating passwords and reducing the risk of fraud by helping businesses seamlessly offer secure biometric identity authentication solutions to their customers,” said Tom Thimot, CEO of authID. “I’ve had the opportunity to work with Steve and witness his many accomplishments over the years. His deep connections across the security sector are validation of Steve’s unmatched reputation. We are thrilled to have him join the authID team.”

Before joining authID, Fazio was a partner at Kore Technologies and co-founder of an architecture consulting and professional services firm that was acquired by Optiv in 2013. Additional clients over the years include Morgan Stanley, Intuit, Twitter, Station Casinos, The Cosmopolitan Las Vegas, Arizona Public Service, City of Austin TX, Cox Communications, and New York City Transit. He earned an MBA from Fordham University and his undergraduate degree from Hofstra University.

“I’ve consulted with Tom [Thimot] for years and enjoy his leadership style and excitedly look forward to joining him on our ambitious mission to change the way companies connect with their customers,” Fazio said. “Businesses and consumers must deal with obscure password management in a failing effort to suppress fraud. authID allows businesses to literally recognize their customers. Our biometric authentication solutions offer the highest level of identity security and a better customer experience. Matching a person’s face directly to their account is safer and faster than passwords for customers and businesses alike.”

Mr. Fazio’s compensation package includes basic salary, commission based on future Company revenues and a grant of options to purchase 210,000 shares of Common Stock at a price of $11.75 per share, pursuant to Nasdaq Rule 5635(c)(4).

About authID.ai

authID.ai (Nasdaq: AUID), formerly Ipsidy, provides secure, mobile, biometric identity authentication products through an easy-to-integrate Identity as a Service (IDaaS) platform. Our mission is to replace all one-time passwords and challenger questions with a selfie and become the preferred global platform for biometric identity authentication. Powered by biometric and artificial intelligence technologies, authID aims to enable every organization to “Recognise Your Customer” instantly, without friction or loss of privacy, and ultimately to re-establish security and trust between businesses and their customers. For more information, go to www.authid.ai.

Notice Regarding Forward-Looking Statements

Information contained in this announcement may include “forward-looking statements.” All statements other than statements of historical facts included herein, including, without limitation, those regarding the financial position, business strategy, plans and objectives of management for future operations of both Ipsidy and its business partners, future service launches with customers, the outcome of pilots and new initiatives and customer pipeline are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding Ipsidy present and future business strategies, and the environment in which Ipsidy expects to operate in the future, which assumptions may or may not be fulfilled in practice. Implementation of some or all of the new services referred to is subject to regulatory or other third party approvals. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the risk that implementation, adoption and offering of the service by customers, consumers and others may take longer than anticipated, or may not occur at all; changes in laws, regulations and practices; changes in domestic and international economic and political conditions, the as yet uncertain impact of the Covid-19 pandemic and others. Additional risks may arise with respect to commencing operations in new countries and regions, of which Ipsidy is not fully aware at this time. See the Company’s Annual Report Form 10-K for the Fiscal Year ended December 31, 2020 filed at www.sec.gov for other risk factors which investors should consider. These forward-looking statements speak only as to the date of this announcement and cannot be relied upon as a guide to future performance. Ipsidy expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.

CONTACTS:

Tom Thimot
CEO, authID.ai
tomthimot@authID.ai

Erin Harrison
The Bliss Group
eharrison@theblissgrp.com

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