Precise Biometrics to Move Beyond Fingerprints in Strategic Shift

“Biometric systems with fingerprints, face, voice, behaviour and iris enables a digital identity that makes it more convenient and secure in the daily life.” Stefan K. Persson, CEO, Precise Biometrics

Precise Biometrics is moving beyond fingerprint recognition, announcing that it has embraced a new business strategy focused on multi-modal biometric authentication solutions.

In a statement issued to coincide with the company’s ‘Capital Markets lunch’ today, Precise Biometrics pointed specifically to the modalities of face, iris, and behavioral biometrics as additional factors of interest, together with geolocation data. The company suggested that there is a growing demand for convenient multi-modal authentication solutions in “smart devices such as cellphones, vehicles, consumer electronics, watches and other accessories”.

Commenting further, Precise Biometrics CEO Stefan K. Persson said, “Looking at the market and how the technology is developed, I see opportunities to expand our current business to new areas of use.”

Precise Biometrics is one of the world’s leading providers of fingerprint algorithm software, particularly in the area of smartphones and other mobile devices; but the mobile biometrics market has delivered shrinking margins to a wide range of established players in recent months due to intense competition and plummeting average sales prices.

In its statement, the company acknowledged that fingerprint biometrics has historically been its “core operation”, but asserted that it has been working with multiple partners to explore new multi-modal biometric solutions, which will see applications in the financial services, gaming, healthcare, and security sectors.

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October 12, 2018 – by Alex Perala