The US-based customer has chosen Precise Biometrics as their new fingerprint algorithm vendor following a thorough test of the market. Precise Biometrics' solution for embedded systems, which includes the top ranked algorithms in NIST/Minex tests, was the main reason for the selection.
The customer is aiming to increase the performance of existing and forthcoming fingerprint enabled devices by using Precise Biometrics' technology. Their key objective is a smooth and secure user experience.
CEO & President of Precise Biometrics Thomas Marschall says, "The financial services markets have some of the world's toughest requirements on usability and security which is why we are extremely proud and pleased to present this new customer and their endorsement of our solution for embedded systems. It means that hundreds of thousands of employees in the financial sector soon will be using our technology on a daily basis. For years we have worked at developing fingerprint technology that can provide the best user experience, focusing on making even "difficult" fingerprints work when using our algorithms. This is important as it reduces support and education requirements while also enabling as many people as possible to have a smooth user experience when using fingerprint sensors. This win is extremely significant and is another confirmation of the strength of our technology."
Marschall added, "Starting in 2013, and with expected increases over the next years, we see a widespread use of fingerprint technology in mobile devices both for businesses and everyday use. For this to happen it is critical that the technology is able to process even those fingerprints which it has previously been difficult or impossible for biometric devices to read. Precise Biometrics is able to offer this level of performance which is why a customer of such global prominence has felt confident in choosing our solution".
The details of this agreement are currently confidential, but it will have a positive impact on Precise Biometrics' financial results already in Q1.
Precise Biometrics AB (publ) may be required to disclose the information provided herein pursuant to the Securities Markets Act. The information was submitted for publication at 1:00 pm on January 3, 2013.
FOR FURTHER INFORMATION, PLEASE CONTACT
Thomas Marschall, President and CEO, Precise Biometrics AB
Telephone; +46 46 31 11 10 or +46 734 35 11 10, E-mail; firstname.lastname@example.org
Patrik Norberg, CFO, Precise Biometrics AB
Telephone; +46 46 31 11 47 or +46 734 35 11 47, E-mail; email@example.com
Precise Biometrics is a market-leading provider of solutions for fingerprint recognition to prove people's identities. With top-of-the-line expertise in fingerprint verification, Precise Biometrics offers fast, accurate and secure authentication of a person.
The technology adds value to ID, enterprise and bank cards as well as access to mobile solutions (smart phones and tablets), computers and networks. Precise Biometrics serves business and government organizations throughout the world and its technology is licensed to close to 160 million users.
For more information, please visit www.precisebiometrics.comand www.idApps.com (https://www.precisebiometrics.com/)