Biometrics industry stocks this week

As the biometrics industry continues to grow, Biometric Update is bringing a new focus to the stories around the stocks in the sector. Check in with this space each week for a rundown of the financial news and interesting ideas from the week that was. Market prognosticators are talking this week about a new “tone” in stock markets. Last week an early rally gave way to a sharp sell-off mid-morning. The market weakness continued through the next five trading sessions.

Yoti launches digital identity app to general availability

Digital identity provider Yoti has launched its flagship mobile app to Apple’s App Store and Google Play to enable users to prove their identity easily and securely in person or online. The launch is the culmination of efforts by a team of more than 180 people at the firm, which was founded in 2014. Yoti provides a secure identity platform for consumers and businesses to combat identity fraud. Users can prove their age, or identity to businesses, confirm the identity

Fingerprint Cards tops Sweden Technology Fast 50 again

Fingerprint Cards is the first company to take first place for two consecutive years in Deloitte’s independent ranking of Sweden’s fastest growing technology companies, the Sweden Technology Fast 50. Fingerprint Cards saw growth of 6,858 percent. The company’s line of touch sensors come in 55 smartphone models with 23 different manufacturers. The company was founded in 1997 and is listed on the LargeCap list since 2016. Fingerprint Cards is the first company ever in the Swedish ranking’s fourteen-year history that

BIO-key doubles revenue on hardware sales growth

BIO-key reported a 118 percent revenue increase to $942,000 in its third quarter revenue report on Wednesday, driven by increased demand, broader distribution, and an expanded line of products including its TouchLock padlocks. Hardware devices made up over half of BIO-key’s revenues in the quarter ending September 30, rising 133 percent to $512,000, including $164,000 from sales of TouchLock, which launches in the U.S. this quarter. BIO-key reached deals to supply its SideSwipe fingerprint sensor to a government defense contractor

ViaTouch integrates EyeLock for “high-tech vending machine” AI

Iris recognition technology from EyeLock will be embedded into ViaTouch’s Auto-Retail solution to provide security and personalization, following an integration partnership announced Wednesday. Developed from its real-time, interactive media solution LISA (which stands for Luxery Interactive Smart Shelves), ViaTouch’s Vicki (ViaTouch Intellishelf Cognitive Kinetic Interactions) product uses artificial intelligence to serve as a virtual clerk and high-tech vending machine. EyeLock’s iris authentication technology with dual-eye verification enables a fast, user-friendly experience, according to the announcement. Vicki engages with customers, talk

VerifyMe restructuring slashes loss in Q3

VerifyMe reduced its quarterly loss by 78 percent year-over-year in Q3 from $1.8 million to $385,000 amid several positive developments for the company, according to its latest earnings report. A 15.3 percent decrease in operating expenses from the Q32016 allowed VerifyMe to exit the quarter with a cash balance of $0.8 million, compared to only $23,000 at the end of the 2016 fiscal year. Among significant moves in the quarter, VerifyMe signed a contract with HP Indigo in September to

IDEMIA provides biometrics-based passenger processing system at Changi Airport

IDEMIA (formerly known as OT-Morpho) has deployed a complete passenger processing biometric system at the newly opened Terminal 4 at Changi Airport in Singapore. Changi Airport originally selected IDEMIA in September 2015 to provide biometric identification and authentication services as passengers pass through the airport’s terminal. The solution is based on IDEMIA’s MorphoPass Airport Solution which provides automated passenger ID checks using facial recognition at all departure control points. The system includes a centralized platform used by airlines and the

Egis Technology reports huge revenue gains in Q3

Egis Technology reported a 229 percent year-over-year increase in revenue to over $47 million in its Q3 2017 earnings. Egis’ ET320 sensor is embedded in select Samsung Galaxy C7 models, which likely contributed to the gains. Another possible source of revenue growth is a partnership announced in February to promote their products in the AR, VR, and automotive markets. The company also announced integrations in a pair of Motorola devices in June as it demonstrated integrations for automotive and smart

CPI, Zwipe partner on easy biometric upgrade for data center cabinets

Chatsworth Products (CPI) has partnered with Zwipe on a highly secure, easy-to-deploy, dual-factor biometric access control system for data center cabinets using Zwipe Access Cards and CPI Electronic Access Control (EAC) Solutions. Zwipe Access offers contactless, biometric authentication in a fingerprint-activated card. By touching the sensor on the card, the card owner verifies their identity, and the positive fingerprint authentication allows the card to communicate with the reader. The fingerprint data is registered and securely encrypted and stored on the

Kickstarter campaign launched to fund biometrics-based global ID startup

Biometrics-based global identity system startup GID has launched a Kickstarter campaign to raise €25,000 in funding to support software development and manufacturing. The system captures user biometric data, and uses it to generate a unique, 15-digit alphanumeric code with a proprietary algorithm. The user does not have to remember the code, as it can be accessed with the fingerprint sensor instantaneously, according to launch announcement. GID account holders also receive GID email and messenger accounts, a cloud data storage account