Precise Biometrics enters licensing agreement with Oberthur Technologies
Precise Biometrics has entered into an agreement with Oberthur Technologies (OT) for licensing of Precise BioMatch Embedded.
Precise BioMatch Embedded is an algorithm solution that offers secure fingerprint recognition for products such as smart cards, wearables, locks and cars.
In a statement, the company says the integration of Precise Biometrics’ fingerprint recognition solution in PEARL by OT, an advanced multi-application embedded secure element (eSE) for mobile, M2M and IoT devices, brings an additional layer of security to biometric authentication and enables easy deployment of secure services using fingerprint technology, such as mobile payments.
“The rapid growth of mobile payments is increasing the demand for secure mobile authentication,” said Håkan Persson, CEO of Precise Biometrics. “Our industry leading capabilities in providing high performance fingerprint solutions for platforms with limited processing power and memory enables new use cases where convenient and secure authentication is needed. The cooperation with OT is a big step in taking such solutions to market and securing users digital identity.”
The partnership enables OT to offer fingerprint identification for connection, authentication and payments in any type of device, such as smartphones and tablets, wearables, vehicles or other consumer and industrial devices. The integration of fingerprint matching algorithms in OT’s eSE enables secure fingerprint verification inside the eSE, preventing users biometrics to be exposed outside the eSE.
Marc Bertin, CTO of OT commented: “While the use of biometric data today appears as the most efficient way to authenticate users, it also raises new security challenges. It is therefore critical to combine the most advanced technologies to protect users’ biometrics. The partnership with Precise Biometrics allows us to further increase security in mobile, M2M and IoT devices by integrating the industry´s leading fingerprint recognition software in our PEARL by OT offering.”
The license agreement will generate royalty revenue based on sales of secure elements from OT that includes Precise BioMatch Embedded in the delivery. The agreement includes a limited initial fixed fee for the right to integrate and use Precise Biometrics’ software, which will be recognized starting from the first quarter 2016.