Update 16th sept 2013: We have clarified that Precise Biometrics is not involved as we understood from the Apple Keynote in the iPhone product itself. We apologies for the mistake.
Lund company Precise Biometrics will benefit from Apples announcement of the iPhone 5S, says this Cision news report. The company’s technology for security and fingerprint identification, in bank cards, mobile phones, desktop computers and networks, for companies and government agencies, is currently licensed to almost 160 million users.
Apple’s iPhone 5S big new feature, a fingerprint-sensor technology for unlocking the device and also to make purchases from the iTunes and Apple’s app store, is something that many competitors are expected to incorporate into future products. Precise Biometrics’ algorithm has the ability to handle this type of fingerprint recognition. Thomas Marschall, CEO and President highlights that Apple is leading the industry in mobile device security,
“We offer a proven algorithm and a strong Match-on-Card technology that fits very well into fingerprint based mobile payment and credit card systems in terms of security and convenience. I believe that our products presents strong competitive advantages as the mobile industry move towards making fingerprint sensor standard on smart devices.” Thomas Marschall, CEO and President of Precise Biometrics
It is expected that the Touch ID for the iPhone 5S payment system will create a new and strong demand for the same type of solutions on other smart device platforms in segments such as banks and other transaction based business. Something Precise Biometrics is in a good position to benefit from.
This Bloomberg report highlights the leap in sales and valuation of Precise Biometrics – more than seven-fold this year – clearly investors are also betting on phone makers replacing conventional passwords with boimetric security technology.
The company made a breakthrough into the US market in March to supply Verizon with it’s Tactivo casing product. This new opportunity with Apple shows great potential for the technology and future for the Lund startup.
