Wells Fargo has welcomed four new startups into its Wells Fargo Startup Accelerator program, including a firm specializing in palm biometrics.
Called Redrock Biometrics, the San Francisco-based company’s flagship solution is aimed at enabling authentication with the wave of a hand. Its PalmID solution needs only a camera to operate, and its AI technology has been trained on images of tens of thousands of palms, assessing their patterns for biometric recognition. It only needs a camera and a CPU to operate, so it can be deployed across mobile devices, computers, headsets, and even properly equipped ATMs.
Commenting on Redrock Biometrics’ admission into the accelerator program, Wells Fargo Innovation Group Research & Development Head of Innovation Bipin Sahni said the bank sees “numerous applications for PalmID biometric authentication in payments, banking, and other financial institutions.” Redrock Biometrics CEO Hua Yang, meanwhile, asserted that participation in the accelerator program “will provide resources and connections that are critical for us to engage this market.”
Other new admissions to the Wells Fargo Startup Accelerator program include SimSpace, a firm focused on offering cybersecurity training and consultancy; self-employment resources provider Hurdlr; and Edquity, the developer of a financial planning app for students.
PalmID is now available as an SDK package, and is compatible with Android, iOS, Mac OS, Windows, and Linux operating systems.
October 23, 2017 – by Alex Perala