Accreditrust, The First Secure Credential Processor, Receives a Multimillion-Dollar Strategic Investment to Fuel Expansion
WARREN, N.J., April 6, 2015 /PRNewswire/ -- Accreditrust, a global service provider for the curation of sustainable, portable and independently verifiable credentials, announced Monday a multimillion-dollar investment to fuel expansion from Verisys, a leading regulatory compliance solution provider for the healthcare industry. This strategic investment establishes Accreditrust as a leading player in the digital credentialing space while providing capital to fund further development of its groundbreaking TrueCred™ SaaS solution and company expansion.
"This investment from Verisys confirms the marketplace need for independently validating a credential's primary source data," said Accreditrust CEO, Eric Korb. "Currently credential validation relies upon third parties and is not machine verifiable, which creates significant and pervasive risk as well as unnecessary costs," continued Korb.
While CIO of an accredited institution of higher education, Korb saw the need for a better way of verifying credentials when an increasing number of unverifiable student applications were submitted. Institutional credibility and productivity were at risk due to this trend. It became clear to Korb a standardized way to securely process and verify credentials was missing, not only from education, but also from healthcare and all emerging areas where "social currency" is a necessary component for establishing sustainable trust on the internet and digital economy.
"The transactional environments we depend upon daily desperately need a trusted handshake backed by verified credentials. The Accreditrust TrueCred™ platform will protect businesses, institutions and consumers from the myriad of cyberpredators, which is costing billions of dollars," said Verisys COO, John Benson. "We are looking forward to using the platform to expand our offerings in the healthcare industry," added Benson.
Accreditrust is also currently collaborating with W3C.org members including Educational Testing Services (ETS), the world's largest private educational assessment organization, to develop next generation digital credentials.
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About Accreditrust
Accreditrust delivers sustainable trust through verifiable and portable digital credentials. Accreditrust proves a credential's authenticity, who issued it, and to whom it belongs. TrueCred™ is a SaaS solution for processing tamper-proof credentials. TrueCred allows credential providers to focus on building great applications rather than technology. Companies that offer credential processing, instructional delivery, testing, human capital management and professional networking applications license TrueCred APIs to process secure credentials. Accreditrust is the only global service provider for the curation of sustainable, portable and independently verifiable credentials.
For more visit https://www.accreditrust.com
About Verisys
Verisys' mission is to serve the healthcare sector with accurate and timely data on persons, professionals and businesses (contracting, privileging, employment, reimbursement, referral). Verisys solutions ensure regulatory compliance and prevent healthcare waste, abuse and fraud. Verisys' products and services include provider data and content, credentialing, primary source verification services, screening - monitoring and notification services, identity/authentication tied to credentials management and regulatory compliance products and services. Verisys' flagship product, FACIS®, is the gold standard for exclusion screening in the healthcare field and it's SaaS credentialing platform, CheckMedic®, represents a breakthrough in credentialing.
For more visit www.verisys.com and www.checkmedic.com
SOURCE Verisys Corporation; Accreditrust
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