Precise has signed a collaboration agreement with the leading biometric cryptography company Infinity Optics (“IO”), to develop secure identification software for fingerprint recognition based on so called true biometric hash technology. The technology enables identification without the need to store user’s reference image, minimizing the risks of identity fraud and data breaches.
In collaboration with the leading fingerprint sensor supplier Egis Technology (Egis), Precises’ software for fingerprint recognition in mobile devices – Precise BioMatch Mobile – has been deployed in a series of smartphones. The integration – in addition to the previous integration that was communicated on August 5th, 2019 – is expected to generate approximately 15 MSEK in revenue.
Precise expands its offering for secure digital identity, Precise YOUNiQ to include convenient and secure biometric access to facilities. The technology behind the service is based on artificial intelligence, which confirms the individual’s identity through its unique facial features. Precise YOUNiQ integrates facial recognition with the door access system to conveniently and securely grant access for employees and visitors to offices and restricted facilities.
INTERIM REPORT FOR THE PERIOD APRIL – JUNE 2019
Precises’ software for fingerprint recognition in mobile devices, Precise BioMatch® Mobile has been deployed in a series of devices, integrated in an optical under-display fingerprint sensor from the leading fingerprint sensor supplier Egis Technology (Egis). Following the licensee agreement with Egis, the integration is expected to generate approximately 10 MSEK in revenue during second half of 2019, in the form of royalties based on actual number of devices utilizing Precise BioMatch Mobile, together with a fee for licensing the software and for support and maintenance.
Precise BioMatch® Card is through its partnership with NXP integrated in the first biometric product, a secure processing module for smart cards, to receive MasterCard CAST Certificate.
Precise Biometrics has signed a license agreement with a leading fingerprint sensor supplier from Asia. The agreement enables the sensor supplier to include Precises’ fingerprint software, Precise BioMatch Mobile, into their under-display sensor solutions for mobile devices.
Precise Biometrics has entered into a partnership with Covr Security to offer products that enable convenient and secure verification of identity for digital services. The collaboration supports the company’s ambition to deliver world-leading biometric solutions that makes people’s everyday lives easier.
At the Annual General Meeting (the “AGM”) of Precise Biometrics, which was held today on Wednesday May 15, Torbjörn Clementz, Torgny Hellström, Mats Lindoff and Synnöve Trygg were re-elected Board members and Åsa Schwarz was elected new Board member. The AGM also resolved on the implementation of an incentive program for the company’s CEO and CFO.