Precise Biometrics details digital identity business model in annual report

Precise Biometrics details digital identity business model in annual report

Precise Biometrics has provided some details on how the company intends to move closer to end users in its first annual report since shifting its strategy to products that unite biometric modalities to secure digital identity.

The 100-page document describes Precise Biometrics’ digital identity offerings for industries such as gambling, health care, transport, and finance as sitting directly between the company and the end-user to provide biometric security while combining the identification processes associated with different services. Testing will be conducted for each of the above sectors during 2019, according to the report.

The new Precise YOUNiQ product for multimodal biometric digital identification was introduced as the company reported its Q4 and full-year 2018 earnings in February.

For its smart cards and mobile businesses, Precise Biometrics will still sell to customers who partner with manufacturers to reach end users.

The company also notes in the report that as it becomes a more international company, it is becoming increasingly diverse, and will also continue to work to improve gender balance within the company.

Since its 2018 earnings report, the Precise BioMatch Embedded algorithms has been integrated with a fingerprint sensor module for the automotive market by Dreamtech.

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