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

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

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

Apple patent covers secret biometric ID tracking system of unauthorized users

Apple has been granted a patent from the U.S. Patent and Trademark Office covering technology that implements secret biometric ID and tracking of unauthorized users, according to a report by Patently Apple. Filed in Q2 2016 and published on November 14, patent 9,819,676 introduces a new advanced biometrics security measure that collects fingerprints as a means of identifying unauthorized individuals attempting to unlock a person’s iPhone, tablet or MacBook. The biometrics of an unauthorized individual trying to unlock a person’s

NEXT Biometrics reports improved gross margins and revenue

NEXT Biometrics has issued the interim results for Q3 2017, with improved gross margins and revenue, and results for the first nine months ended September 30, 2017. The company’s Q3 revenue increased to NOK 25.4 million (US$3.1 million) compared to NOK 24 million (US$2.9 million) in Q2 2017. Meanwhile, the company’s gross margin improved to -4 percent in Q3 2017. In October, the company began production shipments of NB-2034-S2 fingerprint sensor to US Tier 1 notebook manufacturer, as well as

Biometric passports for Costa Rica citizens by 2020

A government official has confirmed that Costa Rica will issue citizens ePassports by 2020 and that the project will soon be put up for open tender, according to a report in The Costa Rica Star. Gisella Yockchen, director of the General Migration Direction, said the total project has an estimated cost of $25 million, and consists of three four-month stages from the moment the tender is finalized. The first stage involves the purchase of an automated fingerprint identification sytem (AFIS)

Precise Biometrics reports sales drop in tough capacitive sensor market

Competition in the capacitive sensor market caused a drop in sales for Precise Biometrics in Q3 2017, resulting in an operating loss, the company said as it reported its quarterly financial results. Net sales declined 56 percent year-over-year to approximately SEK 10.1 M, and the company’s operating margin fell 64 percent to a loss of SEK 6.5 M. Precise Biometrics CEO Håkan Persson said that a small number of companies with competitive advantages from early market entry dominate the market

Fingerprint Cards joins Internet Finance Authentication Alliance

Fingerprint Cards has been accepted as a member of the China-focused Internet Finance Authentication Alliance (IFAA). According to a statement from the Swedish biometrics company, the IFAA aims to achieve a more simple, more accurate way to verify the identity of humans based on fingerprint, face, iris biometric authentication methods. IFAA cooperates with device vendors, chipset vendors, algorithm vendors, security vendors, standard institution, certification organizations to together create a verification technology ecosystem, mutual benefit and common innovation, and jointly promote

Pineapple Hospitality petitions to move biometrics privacy class action to federal court

Last week, Pineapple Hospitality Co. and Pineapple Restaurant Group LLC petitioned to move a putative class action that alleges the companies violated the Illinois Biometric Information Privacy Act (BIPA) to Illinois federal court, according to a Law360 report. The luxury hotelier requested the move from state court under the Class Action Fairness Act because the amount in controversy exceeds $5 million. In an October complaint filed in Cook County Circuit Court, the lead plaintiff claimed that the company did not