Precise Biometrics CEO reviews 2020 achieved goals, opportunities for biometric access control and payments

Precise Biometrics has met its goals of “making good profits, keeping a positive cash flow and continuing to invest in our Digital Identity solution” over the last quarter, despite the challenges associated with COVID-19, CEO Stefan K. Persson writes in a blog post.

Reviewing the first half of the year for Precise, Persson expresses satisfaction with the integrations of the BioMatch Mobile biometric fingerprint software in mobile phones and tablets, and the development and commercialization steps taken for its Precise YOUNiQ biometric access control solution.

Demand for contactless processes in access control has been accelerated by the pandemic, Persson notes, and Precise Biometrics is implementing proof-of-concepts with multiple hospitals.

Interest in contactless payments has also been boosted, and though Persson does not expect any card issuers to roll out major volumes of biometric payment cards in 2020, he is confidant that Precise’ certified product is ready for integration.

In its recent second quarter earnings announcement, Precise Biometrics revealed major gains in revenues compared to the previous year’s Q2 and first half, with cash flow in the quarter turning positive.

Persson says the company’s focus over the remainder of the year will be delivering value to its clients through its vision of secure, convenient identification.

Article Topics

biometric cards  |  biometrics  |  contactless biometrics  |  digital identity  |  facial recognition  |  financial results  |  Precise Biometrics  |  stocks