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Precise Biometrics extends YOUNiQ contracts in Sweden, unveils Algo division plans

Precise Biometrics extends YOUNiQ contracts in Sweden, unveils Algo division plans

Precise Biometrics has unveiled a series of updates, extending a partnership with rental space solutions firm Algeco and welcoming new customers to its cloud-based visitor management system EastCoast Online. The company has also unveiled future plans for its Algo business unit.

YOUNiQ partnership with Algeco expands

The biometrics firm has been providing access via YOUNiQ at Algeco´s modular space in Skellefteå, Sweden, for several years.

The location is witnessing the construction of one of Europe’s largest industrial facilities, and Precise has reportedly already registered over 3 million entries so far via YOUNiQ’s facial recognition.

Now, the partnership between the companies will expand further, with five deployments featuring YOUNiQ capabilities to be commissioned during 2023 at one of Algeco´s upcoming projects.

The residents and subcontractors working on the project will live in temporary modules developed by Algeco with biometric access control by Precise. Rooms will be reportedly designed and organized to hotel standards and to meet customer requirements.

“We are glad to extend our fruitful partnership with Algeco,” says Sarandis Kalogeropoulos, director of sales at YOUNiQ, Precise Biometrics.

“The fusion of Algeco´s credibility and recognition in this industry and segment, and our competency in biometric access management, continues to bring innovative and secure experiences for the visitors.”

EastCoast Visit Online wins new clients

Precise Biometrics is also welcoming new clients to its visitor management system solution EastCoast Visit Online, which the company acquired in the deal for EastCoast Solutions in November of last year.

“The cloud-based solution, EastCoast Visit Online, continues to be the main choice when opting for a new visitor management system,” Precise wrote in a Linkedin post.

“We are pleased to see Alleima, Exakta Print, as well as The Permanent Representation of Sweden in the EU, migrating to EastCoast Visit Online.”

The company also welcomed Eurosteel Nybro AB, Online Optronic, Cellbes AB and Sandberg Development AB to its growing customer base.

“Additionally, we are glad to announce that we have extended our contracts with Socialstyrelsen and Extenda Retail,” the company writes.

The customer wins come weeks after Precise announced the integration of EastCoast within its Digital Identity unit and the combination of the R&D functions of EastCoast and YOUNiQ.

Algo business unit updates

Precise’s Algo division, which focuses on fingerprint recognition technology, has seen solid progress in the mobile business space, particularly in Asia, according to the company’s chief commercial officer (CCO), Fredrik Sjöholm.

“Several new mobile devices featuring Precise’s Algo have recently been launched with our sensor partners,” the executive says. These include the Vivo X80 Pro and the Vivo iQOO 10 Pro.

Precise’s CCO adds that latency is essential for the company as it significantly enhances customer experience and convenience.

Sjöholm also explains Algo is working on two-finger matching: “[it] can be done much more conveniently with larger sensor areas which are now available on modern smartphones, providing a further layer of security.”

Other areas where Algo is stepping up efforts are the automotive industry and the Internet-of-Things (IoT), with the executive mentioning Precise’s partnership with Aqara, which the companies unveiled earlier this month.

Moving forward, Sjöholm says Algo is looking at the increasing sophistication of artificial intelligence and its use to create even better quality biometrics solutions for the market.

“Using the latest advancements in areas such as deep learning can, in turn, enhance the quality of user experience and security.”

The updates come roughly a year after Precise announced revenues with high margins in the Algo product area.

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