June 27, 2014 -
Enterprise accelerator company Alternet Systems has partnered with mobile devices-focused biometric authentication company BIOMETRY to launch its new facial and voice recognition ID system joint venture.
Alternet says it will integrate BIOMETRY’s BioME into its existing payment system’s anti-money laundering and anti-fraud aspects.
According to the company, the joint venture will replace Alternet’s previous use of passwords and PINs with dynamic facial and voice recognition elements in an ID system.
BIOMETRY’s patented secure payment applications will be fully integrated into Alternet’s line of digital currency services, which include OneMarket’s Digital Asset Exchange and the Alternet Financial Services, Digital Bank initiatives.
The partnership seems like it will mutually benefit the two companies. Alternet will be able to further expand BIOMETRY’s market reach through its clientele of financial institutions and mobile network operators, and Alternet will be able to provide its clients with a more secured payment system.
In addition, Alternet is also seeing to broaden its existing working relationship with BIOMETRY, which the two companies say will involve “additional agreements”.
“The platform we are building is dealing with this issue head-on within the digital currency industry,” said Alternet Systems CEO Henryk Dabrowski. “With BIOMETRY’s patented secure digital payment solution, Alternet strengthens its Digital assets and Currency offerings. After evaluating multiple solutions, we made a strategic decision that BIOMETRY’s products are the perfect match for our OneMarket and Alternet Financial Services offerings. We will begin to leverage BIOMETRY’s products into Alternet’s global customer base of financial institutions and mobile network operators in the immediate future.”
“With the digital money and its asset management, the usability and security of our biometric authentication is of the upmost importance,” said BIOMETRY CEO Werner Blessing. “BIOMETRY authentication is unique and protected. Public will quickly appreciate the easy way of biometrics on the fly. No doubt, this is going to bring very rapid growth to both of our companies.”