Biometrics market research, fingerprint technology and border security trending this week

June 12, 2016 - 

Here is a recap of the most popular biometrics industry news that appeared on BiometricUpdate.com this past week.

Industry insight

KnuEdge launched out of a ten-year stealth phase last week with new neural computing technology and a set of noise-tolerant voice authentication products. Led by founder and CEO Dan Goldin, who previously was NASA’s longest-serving head, KnuEdge has already raised $100 million in private funding and $20 million in revenue.

Accenture recently recognized its own technological prowess by bestowing one of its own biometric patents with an award, acknowledging its “biometric matching engine” patent as the most outstanding intellectual property produced by the firm in the last fiscal year.

BiometricUpdate.com recently had the opportunity to discuss Synaptics’ new Natural ID USB fingerprint solution, its many features, and how it differentiates itself from other fingerprint ID solutions on the market, with Synaptics VP of Marketing, Godfrey Cheng.

Financial services

Intel Corporation has selected Tel Aviv to host its latest fintech innovation lab. The lab will focus on blockchain, Internet of Things (IoT) and biometrics applications and will be created with The Floor, a fintech hub located at the Tel Aviv Stock Exchange.

India’s Paytm intends to use its existing user base to offer new services, including debit cards, savings accounts, online banking and transfers, in order to enable cashless transactions. The main challenge for the new bank will be implementing an Aadhaar-based know-your-customer system along with the new unified payment interface.

Swirlds introduced its hashgraph distributed consensus platform for cryptocurrencies, free for public download and use by developers. The company demonstrated early stage proof of concept for this new identity management system at the Cloud Identity Summit in New Orleans.

BioCatch has integrated additional Microsoft Azure capabilities into its behavioral biometrics technology, which further improves its ability to detect and combat financial fraud at global banks and ecommerce sites. The behavioral authentication and malware detection firm monitors over one billion transactions per month across a range of use cases.

Fingerprint technology

BioSSL has partnered with the Danish smart card firm CardLab to integrate CardLabs’ new dual interface biometric bank card with fingerprint sensor into the BioSSL secure platform to create a complete and fully secure financial platform.

MeReal Biometrics unveiled its biometric smart card with Fingerprint Cards’ (FPC) touch sensor FPC1011 at the recent RISE tech conference in Hong Kong. FPC’s key product advantages include low power consumption, fast response time and 3D image quality.

LG has launched their new Stylus 2 Plus smartphone featuring the IDEX touch fingerprint sensor Cardinal Q. According to the company, the Cardinal Q and the Cardinal N silicon sensor products have the smallest silicon footprints in the market for space challenged mobile fingerprint sensing form factors.

Apple Inc has been granted a series of 45 U.S. patents, which include methods and technologies involving one of the original Touch ID inventions regarding on-chip security against fraud, tampering and viruses.

Border security

Canadian federal government officials revealed they used facial recognition technology to identify 15 suspects wanted on immigration warrants and are considering permanently using the technology to help locate and arrest individuals ineligible to stay in the country.

The Democratic Republic of Congo has chosen Semlex to establish an identification management system and produce the country’s new biometric e-passport. Identification of the population and production of identity documents are the cornerstone of a modern state and are essential to its development.

Market research

Lux Research has released a new report entitled “Securing Mobile Payments with Biometric Authentication”, which suggests that current mobile payment systems will need to integrate biometrics in order to increase adoption and meet expectations of high growth rates.

Technavio recently published a new research study which forecasts the biometrics market in North America to reach over $8 billion in revenue by 2020. The report provides an in-depth analysis of market growth in terms of revenue and emerging market trends.

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.