Precise Biometrics : introduces palm recognition - a new addition to its biometrics portfolio

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Published: 2024-03-22 08:00:00 CET Precise Biometrics AB Investor News Precise Biometrics introduces palm recognition - a new addition to its biometrics portfolio Precise Biometrics, a pioneer in biometric technology solutions, today launches a new product and biometric modality - palm recognition - that will complement the current modalities fingerprint and face recognition. Leveraging the same foundation and expertise as its renowned fingerprint algorithm, palm recognition further strengthens the company's unique position. The launch will enable Precise Biometrics to address even more customers and use-cases and is expected to contribute to increasing sales across verticals. This new addition of palm recognition marks a significant milestone in Precise Biometrics' development and extends its biometric suite beyond the existing offering of fingerprint and facial recognition. Palm recognition will be available as a software algorithm product as well as seamlessly integrated into the company's biometric access management (YOUNiQ Access) and visitor management (YOUNiQ Visit) products. Palm recognition combines high security with improved usability and offers several distinct advantages. With touchless interaction, users can enjoy a hygienic and convenient authentication process. Its clear intent and seamless user experience ensure rapid and reliable authentication, enhancing security without compromising user convenience. Some important use cases include access control, visitor management and payments. Adding palm recognition to the company's biometric suite also provides important multifactor biometric authentication (MFA) solutions by enabling combinations of different biometric modalities. The flexibility of MFA enhances security levels even further and provides organizations with customizable authentication and identification options tailored to their specific needs. The solution is touchless and at the same time device agnostic, meaning that users can be securely identified by an IP camera, tablet or a palm recognition device that is able to take a photo with the correct characteristics. One of Precise Biometrics' initial development partners in the area of palm recognition is Hand.ID, an American company offering specific palm recognition readers. Ken Brownlee, CEO at Hand.ID, comments: "We are proud to partner with Precise Biometrics, as they are the global leader when it comes to premium biometric technologies, making them the natural choice for collaboration on our palm reader device. Their performance and expertise in the field of biometrics have impressed us greatly. Together, we are poised to deliver unparalleled solutions that redefine the standards of biometric authentication." Joakim Nydemark, CEO of Precise Biometrics, comments: "We are excited to add palm recognition to our existing biometric product suite. Being able to extend our product offering reflects our commitment to keep on pushing forward and offer the most secure and user-friendly authentication and identification methods to our customers. With palm recognition we will be able to address even more customers and use cases, which is in line with our ambition to accelerate our sales." Contacts Joakim Nydemark, CEO E-mail: [e-mail] About Us Precise Biometrics AB (publ) ("Precise") is a global supplier of identification software. The company offers products in various areas of application that enable users - using their own biometrics - to identify themselves in a convenient and secure way. Precise has two business areas; Digital Identity and Algo, and operates out of its offices in Lund, Sweden, Potsdam NY, USA and Shanghai, China. The Precise share is listed at Nasdaq Stockholm (PREC). For more information, please visit www.precisebiometrics.com Attachments: Precise Biometrics introduces palm recognition - a new addition to its biometrics portfolio.pdf This news release was distributed by Company News System, www.nasdaqomxnordic.com/news/marketnotices To subscribe on regulatory news from this company, go to the subscription page