Precise Biometric Acquired NexID Biometric
Sweden: Precise Biometric, one of the leading
company in fingerprint software, recently acquired the asset of NexID
biometric, a specialist in spoof mitigation and liveness detection solution for
biometric authentication industry. NexID biometric is widely known to develop
and licenses liveness detection software to provide secure fingerprint
authentication which significantly lowers the risk for fraud.
Precise Biometric acquired NexID in
USD3.76 million in cash to strengthen its position in fingerprint software solutions
market. The acquisition of NexID will complement Precise Biometrics’
fingerprint algorithm software resulting in increased security of customer
information with advanced liveness detection solutions.
Precise Biometric will soon introduced
this technology in mobiles and other embedded devices. The combination of
resources and technology will provide greater convenience and security for
consumer who make mobile payments with their smartphone
TechSci Research depicts that recent acquisition
by Precise Biometric will pave way for increased security to its fingerprint
authentication solutions. Biometric technology is also gaining traction in
mobile devices and online payment system to lower the risk of fraud while
making online payment.
According to the recent report published
by TechSci Research, “Global
Biometrics Market By Type (Fingerprint Recognition,
Facial Recognition, Hand/Palm Recognition, Iris Scanner, Voice Recognition,
Vein Scanner & Others), By End Use Sector, By Region, Competition Forecast
and Opportunities, 2011 – 2021”
the global biometrics market is projected to cross US $ 24.8 billion by 2021.
Fingerprint recognition biometric systems are the most preferred type of
biometric systems used across the globe, owing to their ease of use, low cost,
high speed and accurate results. However, in terms of growth, vein scanner
biometrics systems segment is anticipated to outpace fingerprint recognition
biometrics systems over the next five years.