Fujitsu was embedding fingerprint sensors in their Arrow smartphones, for their home market in Japan, long before Apple ever even thought about it. The Asian market been way ahead on mobile payments.
In the US, USAA/ Daon released their mobile app in January 2015 but believe they were testing internally with employees as early as 2013. Wells Fargo has been working on their own internally developed (they have a dedicated R&D group most banks don't) for as long, and this summer announced a pilot with SpeechPro as the biometric provider, it has not yet been released for general use. I mention these two examples as relevant because they are what IWS/ GoVerify should look like in a financial enterprise; mobile, On-Premis or Cloud based or even hybrid, and multi-biometric.
GoVerifyID was announced Sept 2014. The TransUnion integration with GVID was announced in November 2014. Given the above timeline, IMO it is hardly unrealistic to think it has taken some time to percolate through the partnership level, to their customers, and to testing with end users. This market is just starting to develop but the signs are growing, and true disruption won't come just top-down driven by the technology, but will come from enterprises, their customers, and their consumers, who are tired of having their identity hacked.
Aristides says "Ask Around".
That would require a lot of asking, wouldn't it, since the potential pool is undefined and rather large.
Apparently one of the last round buyers was interested enough he had to file a 13D in April disclosing he was now a 5.6% owner with 5.3 million share total assuming conversion of 2,630 (1.4M common) of the preferred.
Care to disclose how many shares you have short? Why not?
You forgot to mention that RDO's can offer small companies multiple advantages over other capital-raising methods including faster and more flexible timing, better pricing, and lower cost- with no underwriters fees, no overallotment shares, no warrants.
There is a lot of interest in commercial applications of biometrics, there appears to be a large and fast growing market forming, and there are companies being funded now, so I suspect it won't be a problem to raise funds if required, which I suspect it may very well be.
This purchase has nothing to do with Goldman Capital Management.
Goldman bought these shares for his Foundation-- the Neal and Marlene Goldman Foundation.
Your DD still sucks.
We have supported TouchID on iOS for months now in GVID
pete, thanks for the comments DH mentioned such in his Opus webcast. Does "we" imply back in the fold?
I have mentioned in the past that if a significant market is forming, then it will attract multiple entrants. No large, fast growing market goes unchallenged. So, I have been watching for some of the big biometric companies to fire up on this. Last week MorphoTrust (the former L-1 Identity Solutions which was acquired by Safran) launched Identix which follows the IWS model; cloud based multi-modal biometrics as a service, incorporating a searchable database-- that the two guys from Ohio say no one needs.
"Biometrics firm MorphoTrust has launched a new identity platform that combines multimodal biometrics with a search engine to enable enterprises to quickly and seamlessly authenticate identity. Known as Identix, the cloud-based platform offers “Trusted Identity-as-a-Service” and is designed to protect consumers, businesses and government agencies from the growing burdens of identity theft and fraud."
My take is that in technology, like life, imitation is the sincerest form of flattery. That's not enough to be a sustainable business obviously, only winning subscribers is enough, but it says the IWS model is not wrong, just early.
The two guys from Ohio don't know what they are talking about, and in fact don't know better than Fujitsu, Lockheed, Daon, and now MorphoTrust-- the market is saying there is a place for cloud based biometrics-as-a-service, and it is just starting up in the commercial world, and there is no dominate power.
The level of competition is raising, there will now be another alternative for enterprises to evaluate, with strong capabilities, and resources. In a perverse way, that is a good thing as markets thrive on competition, and enterprise users need options. Given their background as a government oriented business I suspect MorphoTrust will take this to their government customers first, then move to adjacent markets. The offset to this is the IWS Fujitsu, Lockheed, Transunion, teaming go-to-market strategy. That will be the Tell. TBD.
"Is this implying Morpho, at least they devices are limited with multi modal at 10k users? Seem IWS's multi modal figure is much higher or am I off? "
Off. Morpho has built huge ID management databases including ( I think, I don't follow this closely) the AADHAAR in India which is enrolling the entire population. Most government biometric programs run server-side and require a searchable database.
The difference in your example is not multi-biometrics, it is the difference between a 1:1 match and a 1:N match which requires more compute power. A 1:1 match (for example) is what Apple TouchID does; there is one individual enrolled on the phone, and when you log-on the test is does the probe match the enrolled biometric-- accept / reject. A one to many (1:N) search is where the probe is searched against a database looking for a match. This is a higher level of security as anyone can buy an iPhone and enroll and they will always get a match, if they have your personal identity information they can clone a credit card and access your account. Using the IWS BE a financial or retail enterprise could build a watch list of known offenders and do both; run a 1:1 match to determine the probe is the enrolled ID, but they could also run it against that watch list to see if the biometric is out there with a different set of personal identification information associated with it. Red Flag, potential identity theft in process. Searchable databases are handy things in an uncertain world, despite what two guys from Ohio think-- that "no one needs a database in the cloud". TBD on them. Biometric databases are not unique to IWS, but the home-made BE is unique in how it works.
This is a total mess for those involved. While facts remain scarce, this information was no doubt stored on a server somewhere.
You have to believe that the Lockheed cloud is well defended, their IDHaystack Identity-as-a-Service runs on the IWS Biometric Engine and GoCloudID. IWS doesn't store a fingerprint image on a device, on-premise, or in the cloud. IWS never stores personal identity information along side the biometrics. I have to believe that Lockheed will market the hell out of this hack through FedRAMP the government cloud program-- that's their customer.
It remains a speculative idea. Since about late 2014, with the introduction of GoVerifyID, they are a marketing stage company with a more complete software suite, and with a go to market strategy through these partnerships. As such, they can move as fast, or slowly, as their partners and end customers do. There is testing and integration at each level. The size of the opportunity appears large, their business model should generate high gross margins, there is competition and it will be increasing-- no large fast growing market goes unchallenged. Some of these partners have a primary interest, some are resellers. Until it happens it remains TBD.
Regarding resources, it is my opinion that they should operate more like a start-up and less like an established company until they get past breakeven. Compensation should be more equity, less cash. I don't think they would have any trouble finding an eager CEO on that basis. Silicon Valley has shown that Failure is not a red letter on a career, and if it is successful it will likely be acquired.
No lasting damage was done to anything Monday, Friday, or will be today, or tomorrow.
There is nothing wrong with the Fujitsu Biometrics-as-a-Service Marketplace link, Aristides, the thin-skinned altruistic short, is probably using AOL as his browser on dial-up to fuel his FUD on this (I wonder if he has any extra coasters, I wouldn't mind having one for nostalgia sake-- help a guy out?). Anyone can start a Proof of Concept anytime, for the Financial, Retail, Healthcare, and Mobile verticals.
Fujitsu BaaS is not an optional affiliate program. If a company selects Fujitsu BaaS they are running on IWS. IWS is the only biometric SaaS name on the Fujitsu TPS5 cloud platform. Maybe that changes some time in the future, but as of today that appears to be the case.
No one has any responsibility to convince anyone else why they should own any stock. That is YOUR problem, if you can't do it for YOURSELF, then you shouldn't be here given the speculative risk profile of an IWS. Some of you have Stockholm syndrome and can't stop blaming Miller for YOUR bad decision to HOLD a stock you hate. It's not Millers fault you hold, it is YOUR fault.
Miller makes too many unforced errors and doesn't seem able to learn from his past mistakes, he shouldn't be CEO today or tomorrow- IMO. If nothing else, he has become a distraction and easy target. IWS would benefit greatly from presenting a more technology oriented face to the markets. Biometrics, and how they are implemented, is a technology issue as well as a marketing issue.
There is a lot interest in, and there will a lot money invested in, commercial applications of biometrics and surrounding technology- IMO. Anyone who thinks there is "no need" for biometrics-as-a-service is flying in the face of where the market is headed- IMO. If IWS needs another round, and they very well may, they will be able to raise it.
Who cares what sweaty palmed traders with an attention span of a fruit fly do today?
CS, the online king of TBD.
it's good to be hearing from more new voices at IWS. See new blog article posted today:
"ImageWare® Systems’ Distributed Security System (DSS) provides security that is based on biometric authentication and authorization, and can be integrated into applications, hardware, databases, users/groups, and information resources. While protecting your company from external security threats, DSS plays an important role in making sure your company is also secure from the inside out.
This is done by limiting a user’s access and actions to those system areas they are allowed and by defining access rights and privileges. In addition, all internal and external attack attempts are audited with appropriate warnings being sent to assigned personnel. DSS allows an organization to:
•Control users who have access to the systemDSS_9.15-5
•Provision users with appropriate privileges based on their assigned company role
•Make sure the user is limited to only those areas/functions that have been assigned to their role(s)
•Protect designated data both when being transmitted as well as when at rest in the secure database
•Maintain the integrity of system resources (i.e. files and folders)
•Audit and prevent internal and external attacks on the system
•Maintain the integrity of the information provided by the encrypted read-only audit logs, which record all relevant system events and user actions as determined by your organization
In addition to being comprehensive, the IWS Distributed Security System is flexible, allowing for many types of biometric user authentication. The system can be adapted to meet the requirements of an organization by allowing an appropriately provisioned user to determine the rules governing users, groups, and resources as well as the inclusion of digital signing and encryption. Also, DSS is scalable with there being no effective limits on the number of users or resources being supervised."
7. . ImageWare Systems: ImageWare Systems, Inc. (IWS) is a leading provider of biometric authentication offering multifactor biometric authentication via mobile devices, on premises and in the cloud. IWS operates in multiple markets, providing biometrically enabled software-based identity management solutions for biometrics, secure credential, and law enforcement and public safety markets worldwide. IWS provides a number of biometric solutions, including GoVerifyID (which won numerous 2014 awards), a leading biometric technology for a variety of markets including payments.
9. Hoyos Labs
Let’s Talk Payments announces its next LTP9 leaderboard analysis on another important category in the payments domain—Biometrically Authenticated Payments.
This leaderboard represents the nine most promising companies in this category.
A recent Unisys Security Index survey suggests that the fear of credit card theft is the number one fear for Americans. The biggest threat to the progress of mobile money is the lack of consumer trust (security).
Payment fraud rates continue to rise. For years, passwords have been the most widely used tools to protect data and systems. As technology has evolved to a greater extent in recent times, it has been found that passwords can be easily broken. System security professionals agree to the fact that passwords are too weak an authentication technique. So what are the alternatives? Biometrics, for one, can be used as a replacement for passwords. Biometric authentication is expanding beyond traditional physical security applications, driven by the need for better authentication than passwords and PINs.
Extensive research, including detailed company profiling and regular interactions with industry stakeholders, has helped us in developing key insights which are also backed by our own data analysis. These leaderboards have been identified through a rigorous methodology, beginning with a comprehensive list of all the companies in the space and then analyzing each of them on a scorecard with 10+ subjective and objective parameters to finally arrive at a quantified assessment for each of them. These parameters are further clubbed under three main heads: impact, momentum and focus. Continuous brainstorming and exhaustive research have been instrumental in developing these scorecards to help capture all the salient aspects of this category—both at the industry and the company level.
RTNB- Yikes! they really did a one-two punch on that one. I wonder if they share their winnings...
Yeah, we may get scuffed-up a little bit on Monday, especially if the lawyers pounce. I have a price at which I will add as I didn't learn anything new from the short article, and it didn't point out any new risk I hadn't previously considered.
The Big Four Questions; Right Place, Right Time, Right Stuff, Right People, are trending positive. The development team in Clackamas, led by DH, more than offsets the distraction that has become Miller- IMO, but that does show my bias as to what I think really matters. The bad operating history (who doesn't know this?) combined with a CEO that makes unforced errors, are an irresistible bright shiny object for the shorts. In the end, it will come down to 1) can the partnerships seed the cloud and make it rain subscribers, and 2) what is the IP worth?
FWIW...(Really, Really, Really, FWIW ) I think IWS is worth about $250M today in an acquisition **provided enrollment starts on a couple of projects**. I base that on the IP + The engineers + the Distribution Network + the time to market for a buyer + a high gross margin business model + a huge market opportunity + some speculation factor.
Apple paid $350M for Authentec and shut the business down. They never got, nor wanted revenue, Auth was a key piece of a technology roadmap that led to ApplePay. All they wanted was the IP and the designers, and to block Samsung from getting it first. Because of the history here, I think IWS has to get to enrollment before we see any interest, and I hope that interest doesn't peak until about 2017, and at a much higher valuation. TBD as always.
FWIW- I made some comments on Seeking Alpha for a little perspective and balance.
The short article made a passing comment suggesting investors could possibly recover their sure to be losses, via a class action lawsuit against Miller, so I wouldn't be surprised to see the ambulance chasers show up with PR's about "investigating IWS and Miller over certain claims made by the company". I've seen this happen before, class action "investigations" working in conjunction with a SA short article. Coincidence perhaps, but hard not to be cynical.
BTW- EBAY, the mother of online auctions, was hacked in 2014 and had to request that all of its' 145 million members change their passwords-- all at the same time-- so the argument that their is "no need" is pretty damn dumb. One of the Use Cases for GoVerify is password reset, I bet that would have come in handy...