Welcome to FindBiometrics’ digest of identity industry news. Here’s what you need to know about the world of digital identity and biometrics today:
AuthID Announces Financing, Restructuring
Biometric identity verification specialist AuthID is undergoing a massive corporate transition in the wake of a hefty new investment from longtime shareholder Stephen J. Garchik. Company directors have modified a 2022 Facility Agreement established with Garchik, completing a $900,000 drawdown, and reaching on a new financing agreement valued at $3.6 million. In exchange, Garchik has appointed four new board members, while existing Directors Philip Broenniman, Michael Gorriz, Neepa Patel, and Tom Thimot have resigned, as has Chairman Phillip Kumnick. Read our full story.
Aware Trends Toward Positive Operating Cashflow in Q4 Update
Aware, Inc. has issued its results for the fourth quarter of 2022 and the full fiscal year, showing some positive trends in the company’s business metrics. Revenue for the quarter was relatively flat year-over-year at $4.1 million (compared to $4.0 million a year ago), but recurring revenues were up 16 percent. For the full year, Aware has reported a net loss of $1.7 million—an improvement over its net loss of $5.8 million in 2021; and CEO and President Robert Eckel expressed confidence in Aware’s ability to achieve annual recurring revenue growth of at least 15 percent in 2023, as well as positive operating cashflow heading into 2024.
Mitek Joins OIX
Mitek has joined the Open Identity Exchange, a nonprofit trade group advocating for the proliferation of digital identity technologies. In a statement, Mitek’s Head of Digital Identity, Gareth Narinesingh, asserted that digital identity is reaching “a pivotal stage” and emphasized the need for collaboration to help ensure that the technology moves “in the right direction and at pace,” adding that OIX “has become a vital platform for this”. OIX recently came out publicly against the idea of government-directed digital ID, insisting that such solutions should come from the private sector, with government agencies playing a role in providing identity proofs.
Liberia’s Biometric Election Project On Track, Funding Aside
After last year’s rollercoaster ride of scandals and twists, Libera’s biometric election effort is now on track, according to testimony from the country’s National Elections Commission. Addressing the Plenary of the Liberian Senate, officials reported that the biometric voter registration project is proceeding on schedule, and expressed confidence in the Commission’s ability to address future challenges. But they also noted that they are still awaiting critical government funding for the payment of Laxton, the state’s biometric technology vendor.
Bank of Thailand Introduces New Security Requirements
The Bank of Thailand is implementing new regulations requiring financial services providers to implement enhanced security measures in order to fight fraud. According to Pattaya Mail, banks will be required to use facial recognition for identity verification during account opening, and for authentication when customers are seeking to transfer over 50,000 baht, or roughly $1,436 USD. The new measures will be implemented by the end of this month, according to the report.
Blood Banks Settle BIPA Suit; Lawyers Target Dating Sites
Illinois’s Biometric Information Privacy Act (BIPA) has now come for blood: The plasma center operators Biomat USA, Talecris Plasma Resources, and Interstate Blood Bank have together reached a $16.75 million settlement over a BIPA lawsuit over their collection of fingerprint data from blood donors. The blood banks were accused of failing to obtain explicit consent, and failing to provide the proper disclosures about data retention and destruction as required under BIPA. The settlement has been granted preliminary approval in a federal court.
ClassAction.org and its partner attorneys are now canvassing for individuals who underwent a selfie-based identity verification process on dating apps such as Hinge, OkCupid, and Tinder, with the aim of launching a potential mass arbitration claim under BIPA. “There are no guarantees; however, Illinois privacy law states that companies may be required to pay up to $5,000 per violation,” ClassAction.org advertizes.
MTN to Register Mobile Users’ Biometrics in Five African Countries
Africa-based mobile network operator MTN will work with Seamfix to register the biometrics of mobile subscribers in Cote D’Ivoire, Guinea Bissau, Liberia, Guinea, and Sudan. Nigeria-based Seamfix offers a solution called BioSmart through its Seamfix Enrolment Suite, which supports capabilities including digital signatures and selfie-based identity verification. The companies have already been working together to register phone users in Nigeria, in an effort to fight fraud.
IDEMIA Wins MBIS Contract From Florida Police
IDEMIA has renewed its partnership with the Florida Department of Law Enforcement, announcing a new agreement to provide the police agency with a cloud-based Multi-Biometric Identification System (MBIS), described by the company as “a comprehensive solution centered on an Automated Biometric Identification System (ABIS).” The company did not disclose the value of the contract; but Florida’s DLE had requested $20 million in funding from the state government to replace its aging Biometric Information System earlier this year.
March 10, 2023 – by Alex Perala
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