DigitalPersona buys biometrics ID business Identity Stream
Agostinelli: 'Tremendous potential'
California-based biometric identity verification specialist DigitalPersona has bought Identity Stream, whose focus is using biometrics to ensure positive identification in banks and other financial institutions.
Identity Stream’s software is currently marketed with Temenos – a relationship that will continue - as T24 Biometrics and provides “one touch” identification for any transaction in the TEMENOS T24 core banking system. The solution identifies customers and employees by scanning their fingerprints and matching that unique identifier with an identity profile stored on a secure server. “Integrating this software with our biometrics-based solutions will expand its functionality and give financial institutions more choices,” said Richard Agostinelli, DigitalPersona president and CEO.
“We see tremendous market potential for solutions like this on a global basis.” He added that there was growth in the sector due to increasingly sophisticated security threats and a need to improve service levels without increasing operating costs.