CycurID Announces An All-In-One Know Your Customer (KYC) Passport

VANCOUVER, BC, June 14, 2022 /PRNewswire/ - CycurID Technologies Ltd., ("CycurID" or the "Company"), is pleased to announce the introduction of its all-in-one KYC Passport solution.

CycurID has developed a proprietary Digital Identity Management System that enables one solution to be applied to a wide array of reporting and compliance issues that all businesses need to address.

The fundamental problem with how people transact online is with authentication of users. Up until now, users have had to share their personal data, putting individuals and businesses at risk. With over 15.8 billion records breached since May 2020, current security and privacy protocols are not doing an adequate job of protecting personal information that is stored by these businesses. CycurID simplifies the authentication process so that individuals can reduce the amount of personal information they share.

CycurID Co-founder and COO Gord Jessop, provided insight: "The reality is that most identity solutions currently available are an agglomeration of third-party technologies that do not solve underlying issues plaguing the online world—most notably the increasing amount of stolen or compromised personal records. We have developed a closed-loop, fully-encrypted identity privacy and management solution to address those issues. What we have developed is truly a 'one and you're done' solution."

CycurID's identity management solution rethinks how identity can be used in people's online lives and resolves many of the foundational issues prevalent in the identity sector and online marketplaces. CycurID combines security with convenience without compromising consumer privacy, all in a frictionless authentication and verification solution that easily scales.

Jessop said, "Just because something is 'convention', it doesn't mean it can't be improved upon. It's no secret that Know Your Customer (KYC) and customer onboarding/checkout is a pain for consumers and businesses. We believe there is a better way to do things. The solution is imme^TM (pronounced "I'm me"), the first all-in-one KYC passport."

With the launch of imme, our fully integrated KYC passport, consumers are verified and scrubbed against government authorized databases, sanction lists, and international databases (such as Most Wanted)—all in real time. This process, "continuous KYC" occurs every time users access the app. With continuous KYC, merchants trust that their customers are indeed who they say they are, and users trust that their identity has not been compromised.

"At CycurID we believe every person has the right to privacy and digital security," Jessop said. "Your identity belongs to you and no one else. Third parties should not be able to exploit your identity for their sole benefit. We know some companies use so-called 'identity experts' to verify users, but we believe that every time you add someone to your trust network, you create an opportunity for information to be leaked and/or for personal data to be stolen. We designed our solutions ethically and conscientiously to prevent this loss, always with consumer protections at the forefront."

For more information about CycurID's complete suite of identity solutions, visit our corporate website https://cycurid.com or contact us through our contact page here.

No Offer or Solicitation. This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any provinces, states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

CycurID Technologies Ltd is a privately held personal identity management and security software developer based in Vancouver, British Columbia. CycurID^TM (pronounced "Secure ID") has developed proprietary patent pending identity management and privacy software which is available via its consumer app imme^TM (pronounced I'm me). CycurID^TM is registered with the Chamber of Commerce, Better Business Bureau, WorkSafe BC and with FINTRAC as Money Service Business (MSB). CycurID^TM and imme^TM are Registered Trademarks of CycurID Technologies Ltd.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements including without limitation, expected growth and success of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, opinions or other factors should change.

SOURCE CycurID Technologies Ltd.