Biometrics providers expand reach in Southeast Asia, Yinda Infocomm rebrands
Yinda Infocomm has announced that it will henceforth be known as Totm Technologies, and is also looking forward to expanding its digital identity management and biometrics business portfolio globally.
A press release issued by the Singapore-based company states that the rebranding move was agreed upon during its extraordinary general meeting which took place on September 30, and signals the desire to spread its business reach beyond communication solutions and services.
The name change, the release adds, follows a number of corporate actions undertaken by the company, which include the acquisition of a 51 percent stake in software company International Biometrics, investments in Tech5, as well as subscription of new shares for a 70 percent stake in GenesisPro.
Pierre Prunier, chief executive officer and executive director of Totm Technologies, will lead the company in sourcing for funds and assessing all technology-related investments.
Totm Technologies says it will capitalize on its successful deployment and maintenance of a biometric national identity system in Indonesia to build more inroads for identity management biometric solutions for the country’s growing digital market.
Speaking about the motivation for the name change, Prunier said: “To support our vision to become a leading expert in Identity Management Solutions, especially in the space of Digital On-boarding and Digital ID, we selected the name Totm Technologies, which captures how a strong identity can inspire individuals and groups. This is a defining moment for the Group and this name change will better reflect our transformation into an identity management technology solutions provider. We look forward to the future possibilities of growth and expansion for Totm Technologies, and to the contribution we can make across Asia Pacific and beyond with digital ID identity solutions for individuals, businesses and economies.”
Totm says it is also in talks with financial institutions such as banks and fintech companies in Indonesia to provide them with its strong end-to-end digital KYC solution.
Prunier says Totm will continue to work to provide the latest platforms to their customers in the private and public sectors as part of their contribution to the global digital transformation movement. This, he said, will be achieved by building relevant technologies on their own or through vital acquisitions and partnerships.
Totm remains listed on the Singapore Stock Exchange under the symbol ‘42F.’
NtechLab makes Malaysia market entry
NtechLab’s FindFace Multi system can recognize faces (including those wearing masks), silhouettes and cars in real-time using video analytics.
The news outlet adds that with the opening of the local branch in Malaysia, the company is in the process of shopping for partners from the biometric industry. It also suggests that NtechLab could also be looking to establish a partnership with the Malaysian government to encourage the latter adopt and deploy the company’s solution.