Precise Biometrics to acquire NexID Biometrics - adding liveness detection to our fingerprint software solutions
Precise Biometrics, a leader in fingerprint software, has entered an agreement to acquire the assets of NexID Biometrics, a specialist in spoof mitigation and liveness detection solutions for the biometric authentication industry. The acquisition enables Precise Biometrics to expand its offering of fingerprint recognition software with liveness detection, increasing security and addressing customer demand for fraud mitigation.
Precise Biometrics strengthens position as leader in fingerprint software
NexID Biometrics develops and licenses liveness detection software that enables more secure fingerprint authentication by mitigating spoof-related risks, such as fake fingers, lowering the risk for fraud. The acquisition gives Precise Biometrics access to liveness detection software that stems from over 10 years of research by world leading scientists on biometric spoof mitigation and a close working relationship with Clarkson University, one of the leading authorities in biometric research.
Liveness detection software will be integrated in Precise BioMatch Mobile in first half of 2017
NexID Biometrics’s liveness detection software will be optimized for mobile devices and integrated in Precise BioMatch Mobile in the first half of 2017. Precise BioMatch Mobile is our algorithm solution for mobile devices that provides the best user experience and security of fingerprint technology for devices with small sensors. Customers licensing Precise BioMatch Mobile will be able to add the functionality to its solution through an integration, further increasing the security if its fingerprint solutions. If you are interested in more information, contact your local representative or email us at email@example.com.
E-commerce and fraud increase the need for secure fingerprint authentication
Convenience has been the main growth driver for fingerprint authentication, which has developed from being a niche product in 2013 to becoming standard on most mobile devices. Market analysts predict that number of mobile devices with fingerprint technology will double and reach more than 1.5 billion devices in 2020. The growth in mobile payments and e-commerce has led to increased fraud, which is expected to continue to grow, prompting payment providers to mitigate fraud through improved security measures. This will lead to security becoming a key decision factor when sourcing fingerprint authentication solutions. By integrating fingerprint liveness detection to identify fake fingers, Precise Biometrics further increases the security of its fingerprint authentication solutions, addressing the demand for convenient and secure fingerprint solutions.
Integration of industry leading capabilities will create substantial synergies
NexID Biometrics is headquartered in Potsdam, New York State, USA and has extensive experience from processing and analyzing fingerprint images, and will become a vital part of Precise Biometrics research and development. Precise Biometrics will continue NexID Biometrics close working relationship with, Clarkson University, one of five universities in the US Center for Identification Technology Research (CITeR), with a research program that focuses on biometric vulnerabilities and intelligence. NexID Biometrics CEO Stephanie Schuckers is the current director of CITeR, and will take on a role as advisor to Precise Biometrics on matters such as strategic direction and product development.
“The combination of organizational resources and technologies will make for a strong contribution to the biometric authentication industry, including greater convenience and security for consumers making mobile payments with their smartphones”, said Dr. Stephanie Schuckers, NexID Biometrics CEO and Clarkson University faculty member.
For more information about the acquisition, read the press release.