Precise Biometrics and CoreStreet Team up to Create New Biometric Product for Physical Access Control.Business Editors/High-Tech Writers CAMBRIDGE, Mass. & LUND, Sweden--(BUSINESS WIRE)--April 22, 2004 Instant Identity is First Biometric Product Line to Incorporate Real Time Identity and Validation Precise Biometrics AB (Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. : PREC PREC Precedence PREC Processo Revolucionário Em Curso PREC Program for Resource Efficient Communities PREC Puerto Rico Energy Center A), which develops and sells world-leading and user-friendly biometric security solutions based on fingerprints Impressions or reproductions of the distinctive pattern of lines and grooves on the skin of human fingertips. Fingerprints are reproduced by pressing a person's fingertips into ink and then onto a piece of paper. , has entered into a fully-funded license and co-development agreement with CoreStreet, a leading provider of validation solutions for identity management and access control, to create a new line of biometric products jointly called Instant Identity. The cooperation will result in the first biometric product line that performs real time validation as well as authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. and authorization to provide a reliable and quick way to secure both physical and digital environments. "CoreStreet's Real Time Credentials technology changes the face of biometrics by building validation into the system," said Christer Bergman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Precise Biometrics. "Biometrics is the ideal technology for determining the identity of a user but has, until now, not been able to validate the user's access rights. The new Instant Identity products will, not only, be able to authenticate (1) To verify (guarantee) the identity of a person or company. To ensure that the individual or organization is really who it says it is. See authentication and digital certificate. (2) To verify (guarantee) that data has not been altered. who the user is, but also validate what the user is allowed to do -- in real time -- without costly centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. connections." All Precise Biometrics' fingerprint fingerprint, an impression of the underside of the end of a finger or thumb, used for identification because the arrangement of ridges in any fingerprint is thought to be unique and permanent with each person (no two persons having the same prints have ever been authentication products are based on the company's patented core technology, Precise BioMatch(TM). Precise BioMatch(TM) is a hybrid-matching algorithm, which combines the benefits from traditional minutia mi·nu·ti·a n. pl. mi·nu·ti·ae A small or trivial detail: "the minutiae of experimental and mathematical procedure" Frederick Turner. extraction with advanced pattern matching 1. pattern matching - A function is defined to take arguments of a particular type, form or value. When applying the function to its actual arguments it is necessary to match the type, form or value of the actual arguments against the formal arguments in some definition. and thereby maximizes the information collection from a fingerprint. Moreover, the Precise BioMatch(TM) technology is interoperable and works with various biometric readers, applications and smart cards Example of widely used contactless smart cards are Hong Kong's Octopus card, Paris' Calypso/Navigo card and Lisbon' LisboaViva card, which predate the ISO/IEC 14443 standard. The following tables list smart cards used for public transportation and other electronic purse applications. . Instant Identity, combining CoreStreet's Real Time Credentials and Precise BioMatch(TM), enables security to be employed in locations where network connections may not be available. The ability to check an individual's credentials to determine both who they are, and what they are allowed to do right now, greatly improves an organization's security capabilities. By eliminating the need for a direct connection to a secure database at transaction time, speed, accuracy and convenience increase while costs decrease. "Instant Identity is a great example of the practical value of our Real Time Credentials technology which takes security to the next level of ease and convenience," said Phil Libin, president of CoreStreet. "Combining our validation technology with Precise Biometrics' innovative Precise BioMatch(TM) fingerprint technology, we can go a long way toward providing affordable, active security." CoreStreet's Real Time Credentials makes scalable, ubiquitous security possible, with or without connectivity, at a fraction of the expense and response time typically required with conventional systems. Availability Instant Identity products will be available at the end of 2004. About Precise Biometrics Precise Biometrics AB (publ) is an innovative security company that supplies world-leading systems for authentication using fingerprints. The solutions supplied by the company replace keys, PIN codes and passwords. The company's products are cost effective and provide security and comfort combined with top-class protection of personal integrity. The range of products includes systems for access control to buildings, computers and networks and for building into mobile and fixed terminals, such as mobile phones and portable computers. The company headquarters are in Lund, Sweden. The company also has offices in Stockholm and a U.S. subsidiary in Washington, D.C. Precise Biometrics is listed on the O-list of the Stockholm Stock Exchange (symbol: PREC A). For more information about Precise Biometrics, visit http://www.precisebiometrics.com/. About CoreStreet CoreStreet is the only provider of massively scalable validation products for identity management and access control. With CoreStreet's Real Time Credentials(TM), organizations can control physical and logical access to buildings, computer networks, applications and devices. Real Time Credentials solutions can be deployed anywhere in the world -- in connected and disconnected environments -- without having to set up costly and vulnerable infrastructure. CoreStreet's products are designed to secure large, mission-critical applications for military, civilian government, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and healthcare customers. The company, headquartered in Cambridge, Mass., holds 14 patents with more pending. For more information, visit www.CoreStreet.com. |
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