October 10, 2010 – by Peter B. Counter
Today it has been announced that biometric identity solutions provider DigitalPersona has acquired Identity Stream in an initiative to expand its secure banking systems portfolio. The acquisition will see DigitalPersona enhancing the latter company’s Temenos T24 fingerprint protected banking solution, which is marketed through T24 Biometrics.
Temenos is an efficiency tool that allows banks to quickly and automatically identify customers and employees at the scan of a fingerprint. The efficiency allowed by this solution has many applications in reducing cost in product launches and saving transaction time on both the customer and teller ends. Additionally, in markets that are underserved in regards to proper identification documents, financial institutions now have a way of consistently identifying persons that previously have not had access to basic banking needs.
The acquisition agreement stipulates that Temenos will continue to serve the financial industry, but now it will boast additional authentication strength courtesy of DigitalPersona’s applicable hardware and software solutions.
“DigitalPersona’s portfolio of fingerprint hardware and software, as well as their experience in strong authentication software, makes them an ideal partner for us moving forward,” said Terminos global alliances director Mike Head.
Speaking to the benefits that this acquisition will bring to the Temenos system, DigitalPersona president and CEO Richard Agostinelli said, “Integrating this software with our biometrics-based solutions will expand its functionality and give financial institutions more choices. We see tremendous market potential for solutions like this on a global basis.”
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