BEDFORD, Mass., Feb. 11, 2020 /PRNewswire/ — Aware, Inc. (NASDAQ: AWRE), a leading global provider of biometrics software products, solutions and services, today announced that its Knomi® solution has been chosen by several of the leading banks in Latin America to enhance the convenience and identity assurance for their mobile apps for tens of millions of customers. By incorporating Aware’s Knomi biometric authentication into its mobile app and security infrastructure, their customers will be able to login to their mobile banking app using facial recognition with liveness detection instead of passwords.
Knomi is a mobile biometric authentication framework that applies a variety of biometric algorithms to enable more secure and convenient mobile onboarding and password-less authentication experience. Its SDKs and web services work in concert to perform biometric capture, liveness detection, and matching, with face and voice modalities supported.
“Knomi delivers the reliability and performance of government-grade software that banks of this size require to scale biometric authentication to millions of users,” said Bob Eckel, Aware’s CEO & President. “But it’s Aware’s ability to engage with our customers at the workflow and algorithm level, utilizing their existing robust processes providing continual optimization of the performance and user experience that sets us apart from other providers.”
More information about Knomi is available on the Aware’s product webpage. Aware will demonstrate Knomi in the FIDO Alliance stand in the Hall Upper Walkway at Mobile World Congress (MWC), taking place February 24-27 in Barcelona.
Aware is a leading provider of productized biometrics software products, solutions and services to governments, system integrators, and commercial organizations and solution providers globally. Our comprehensive portfolio of biometric solutions are based on innovative, robust products designed explicitly for ease of integration including customer-managed and integration ready biometric frameworks, platforms, SDK’s and services. They fulfill a broad range of functions critical to secure biometric enrollment, authentication, identity and transactions including face, fingerprint, iris, and voice capture modalities, sample quality assurance, data compliance, capture hardware peripheral and system abstraction, centralized data processing and workflow, subsystem connectivity, and biometric matching algorithms. The products and solutions apply biometrics to enable identity-centric security and know-your-customer (“KYC”) solutions for applications including financial institutions, retail, banking and payments, healthcare, border management, credentialing and access control, intelligence and defense, and law enforcement. Aware is a publicly held company (Nasdaq: AWRE) based in Bedford, Massachusetts.
See Aware’s website for more information about our biometrics software products.
Safe Harbor Warning
Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as estimates or projections of future revenue and earnings, and the growth of the biometrics markets. Aware wishes to caution you that there are factors that could cause actual results to differ materially from the results indicated by such statements.
Risk factors related to our business include, but are not limited to: i) our operating results may fluctuate significantly and are difficult to predict; ii) we derive a significant portion of our revenue from government customers, and our business may be adversely affected by changes in the contracting or fiscal policies of those governmental entities; iii) a significant commercial market for biometrics technology may not develop, and if it does, we may not be successful in that market; iv) we derive a significant portion of our revenue from third party channel partners; v) the biometrics market may not experience significant growth or our products may not achieve broad acceptance; vi) we face intense competition from other biometrics solution providers; vii) our business is subject to rapid technological change; viii) our software products may have errors, defects or bugs which could harm our business; ix) our business may be adversely affected by our use of open source software; x) we rely on third party software to develop and provide our solutions and significant defects in third party software could harm our business; xi) part of our future business is dependent on market demand for, and acceptance of, the cloud-based model for the use of software: xii) our operational systems and networks and products may be subject to an increasing risk of continually evolving cybersecurity or other technological risks which could result in the disclosure of company or customer confidential information, damage to our reputation, additional costs, regulatory penalties and financial losses; xiii) our intellectual property is subject to limited protection; xiiv) we may be sued by third parties for alleged infringement of their proprietary rights; xv) we must attract and retain key personnel; xvi) we rely on single sources of supply for certain components used in our hardware products; xvii) our business may be affected by government regulations and adverse economic conditions; xviii) we may make acquisitions that could adversely affect our results, and xviv) we may have additional tax liabilities.
We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our annual report on Form 10-K for the fiscal year ended December 31, 2018 and other reports and filings made with the Securities and Exchange Commission.
Aware and Knomi are registered trademarks of Aware, Inc.