Security Biometrics, Inc. to Integrate Penflow Into Datawitness Online Contract Exchange Solution.Business Editors/Health/Medical Writers NEW YORK--(BUSINESS WIRE)--Nov. 21, 2003 Security Biometrics, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SBTI SBTI Sigma Breakthrough Technologies, Inc. SBTI State Bank Training Institute (Pakistan) ), a leader in biometric signature An authentication method that uses the dynamics of a person's handwritten signature. The pen pressure and duration of the signing process, which is done with a stylus on a touch screen or digital-based pen tablet, is recorded as an algorithm that is compared against future signatures. 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. solutions powered by Penflow(TM), today announced the signing of a Heads of Agreement Heads of Agreement A non-binding document outlining the main issues relevant to a tentative partnership agreement. Notes: It is the draft used by lawyers when drawing up the contract. It serves as a guideline for both parties before any documents are legalized. with Datawitness Online Ltd. Over the next 90 days the parties will formalize a strategic partnership agreement which will see the integration of the Penflow(TM) technology into the Datawitness(TM) Online Contract Exchange. The Datawitness(TM) Online Contract Exchange is driven by a web based Coming from a Web server. See Web application. software application that permits subscribers to create, transmit, conclude and automatically archive contracts and other significant documentation via the Internet. The technology connects with a proprietary microfilm archiving system developed by the Eastman Kodak Company(R) to automatically capture an analog image of the document as it is both transmitted and returned. Datawitness Online Ltd. and the Eastman Kodak Company(R) answer the requirements for secure, accountable online contracts through the Datawitness Online Contract Exchange. The Datawitness(TM) web-based application See Web application. achieves faster contract conclusion at costs substantially lower than traditional contract delivery methods with the added benefits of date and time stamping time stamping The stamping of order tickets with the time of entry and execution. For example, options exchanges require stamping of order tickets with the times of execution to the nearest minute. , real-time status reporting, automatic microfilm archiving and immediate retrieval capability. The result is a defensible audit trail and an effective strategy for contract records management and disaster recovery. Penflow(TM) is a communication infrastructure that allows any individual to be authenticated via a handwritten hand·write tr.v. hand·wrote , hand·writ·ten , hand·writ·ing, hand·writes To write by hand. [Back-formation from handwritten.] Adj. 1. signature. Complying with Digital Signature Laws requirements, a signature can be appended to any digital data in a non-reversible way and considered legally binding. In the e-government market particularly and in the management of workflow, there is a worldwide need for an acceptable, reliable and efficient system for personal authentication that minimizes risks and maximizes financial and commercial activities. Penflow(TM) target users for the system, include law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
The integration of the Penflow (TM) technology will allow signatories to apply a biometric digital signature to Datawitness(TM) contracts to meet the highest standards in global digital signature requirements and will assist public companies to comply with regulations that require an authenticated signature. The integration also addresses a pressing need within the e-commerce, e-communication and e-contract administration arena for a secure method of providing validation of individuals and certified electronic signatures on legal documents and email. Standards imposed by the Sarbannes Oxley Act create a compelling case for the co-joining of the two technologies. Each time a contract or other key corporate documentation is transmitted or responded to, it is microfilmed automatically with the reference-archived microfilm held, but not viewed, by Datawitness(TM) as a trusted third party In cryptography, a trusted third party (TTP) is an entity which facilitates interactions between two parties who both trust the third party; they use this trust to secure their own interactions. TTPs are common in cryptographic protocols, for example, a certificate authority (CA). . The result is a best business practice that assures contracting parties, shareholders and regulatory bodies that the data is available for review. Responsible use of the Datawitness(TM) system in concert with sound corporate policies can afford protection for Chief Executive Officers who are ultimately responsible for the management of all documents created in the course of business. The secure, arm's length arm's length adj. the description of an agreement made by two parties freely and independently of each other, and without some special relationship, such as being a relative, having another deal on the side or one party having complete control of the other. storage of the data within a trusted third party environment is the result of the cooperative efforts of Datawitness Online Ltd. of Vancouver, Canada, Fusepoint Managed Services The creator of this article, or someone who has substantially contributed to it, may have a conflict of interest regarding its subject matter. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. Inc. of Toronto, Canada and the Commercial Imaging Division of the Eastman Kodak Company(R) of Rochester, New York This article is about the city of Rochester in Monroe County. For the town in Ulster County, see Rochester, Ulster County, New York. Rochester, once known as The Flour City, and more recently as The Flower City or . The Datawitness(TM) process was developed as a strategy to address emerging problems associated with digital data storage, the defensibility of digital data in litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , recovery of documents for evidentiary purposes and growing shareholder dissatisfaction respecting corporate records management. Glynis Evans, President of Datawitness said, "With several trillion documents being exchanged throughout the world annually, security is of paramount importance. We see an ever increasing demand for secure, Internet based exchange of documents and with the addition of Penflow(TM) into our web based service, we see a potential for over greater than 12 million contract execution transactions per year representing in excess of $35M in annual revenue." Michel Berty, Chairman 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 Security Biometrics added, "We anticipate that the integration of the Datawitness infrastructure with Penflow(TM) will play an important role in the expansion of our biometric signature authentication solutions, to major public and private corporations, financial institutions, insurance and to enhance e-Transaction security. We are also looking forward to the cross marketing opportunities to our customer base that would benefit from the usage of the combined technologies." About Datawitness Datawitness Online Ltd. is a privately owned Canadian company incorporated in the Province of British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography , Canada. The company was formed specifically for the purpose of creating an ethically based peer-to-peer technology for reducing dispute. About Security Biometrics Security Biometrics, Inc. (www.sigbio.com) is a leader in biometric signature authentication solutions powered by Penflow(TM) the system is based on inherent proprietary patents that validate a signature in a quick, non-invasive and highly accurate manner. The Penflow(TM) authentication engine views the signing process as a series of movements performed in a continuous, consistent and sequential process. Security Biometrics, in conjunction with its strategic partner WonderNet Ltd., have developed new and unique algorithms that allows signature authentication by monitoring human hand movements instead of the final image. Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, and goals, assumptions of future events or performances are not statements of historical fact and may be "forward looking statements". Forward looking statements in this release may be identified through the use of such words as "expects", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. Actual results, performance or achievements could differ materially form those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors set forth in the Company's filings with the Securities and Exchange Commission. |
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