"Acuity Market Intelligence has released a new report on the global mobile biometrics market, and is predicting huge growth over the next several years. The firm cites smartphones, tablets, and wearables as the main drivers of growth in this market.
The firm pegs the market at $1.6 billion for last year, and predicts it will grow to a whopping $34.6 billion in 2020, reflecting an annual growth rate of almost 67 percent (CAGR). The impressive figures reflect a slight revision of the firm’s previous estimates, with Acuity feeling more optimistic to the tune of about $1.3 billion. Just as remarkable is Acuity’s prediction, asserted by lead analyst Maxine Most in a press release, that by the end of this forecast period “biometrics will be standards on 100% of the nearly 3 billion consumer smart mobile devices sold each year.”
Moreover, over 5.5 billion apps using biometric features will be downloaded in 2020, and there will be over 800 billion transactions authenticated to some degree by biometric technology.
Maxine Most suggests that the “potential for consumer use of mobile biometrics and the associated revenue potential is magnitudes greater than any previous application of biometrics,” and while Acuity has been optimistic about other kinds of biometrics deployments, it’s quite clear that the potential with mobile devices is enormous. And as more smartphones, smartwatches, and other wearables find their way onto the market, we’re going to see much of that potential realized."
faux- IIRC it is required 4 business days after the trigger event. So, if he was terminated at the end of May it would have been filed by yesterday, if it was on the first of June it would be today. IWS did file an 8K on December 5, 2014 indicating he had been hired effective Dec. 1
Just for the record, Harris as SVP Marketing and Sales is an officer of the company, so if what you post is true then IWS is required to file an SEC form 8K DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS. IWS is actually pretty good with the SEC disclosure filings, and as of today there is no such filing.
Officers and directors:
S. James Miller Jr. Chairman of the Board, Chief Executive Officer
Wayne G. Wetherell Chief Financial Officer, Senior Vice President - Administration, Treasurer, Secretary
Jeffrey Dean Harris Senior Vice President - Sales and Marketing
David Harding Chief Technology Officer, Vice President
BTW, the company website Executive Team page was never updated to include Harris.
In order to use GVID you need to have a registered account with an IWS partner or customer. IWS gets paid when someone enrolls and subscribes to the service and or makes a transaction. Presumably, the only reason to download the app is because you need to use it with your account.
The SaaS business model will provide a ramp, not a step function, increase to revenues with revenue growing as fast (or slowly) as individuals enroll. At the moment, we are still looking for enrollee number 1, but this is how he or she gets there.
No indication this has anything to do with IWS at this point, however it doesn't take much imagination so see how GoVerifyID could turn this into a multi-modal powerhouse of a phone. Guessing this is exclusive to the Japanese market at this point.
"The device maker has partnered up with Japanese carrier NTT DoCoMo to launch the world’s first smartphone with iris recognition technology that can be used to both unlock the device and certify mobile wallet payments. The system comes embedded into Fujitsu’s new flagship Arrows NX F-04G. The Arrows NX F-04G arrives with a 5.2-inch QHD display, Snapdragon 810, 3GB of RAM and 32GB of internal storage, so as you can see, the device is flagship material. It runs Android 5.0 Lollipop out of the box and employs the services of a 20.7MP camera sensor on the back and a 2.1MP selfie camera in front. It’s also dustproof and waterproof and should arrive later in May for an undisclosed price."
This was the comment from the Elephant Talk earnings Q1 Financial Results PR out yesterday. ValidSoft is a subsidiary company.
"Momentum at ValidSoft continues with the signing of ImageWare Systems, its third new commercial customer contract in 2015. ImageWare Systems is a market leader in identity management solutions serving a varied client and partner portfolio where it delivers a single, best in class platform of biometric solutions designed to manage millions of identities worldwide. The ImageWare Systems relationship provides ValidSoft with an immediate existing pipeline of contracts, which are currently under development and deployment."
I saw the announcement from Elephant Talk yesterday, but IWS rarely talks about their algo vendors preferring to remain agnostic. Last year they mentioned certification/ integration with SpeechPro which I believe is the algo vendor for the Baja drivers license project.
Deutsche Bahn, apparently concerned about spoofing, recently changed the requirements on their mobile project with IWS to included liveness detection which required either an upgrade from their vendor(s) or I suspect they were replaced. You might look into how ValidSoft does liveness (or not) as a clue to this specific project as the timing is about right. In any event, VS won't be exclusive to IWS as they will continue to be agnostic on algos.
With its IdentityX multimodal (face and voice) mobile product. I mentioned this implementation before, but DAON has a case study out on it yesterday.
USAA is the first financial institution in the US to deliver a biometric mobile app. They claim 100,000 USAA members have signed up so far. I have mentioned DAON before and believe it is a quality operation, I wish it were public.
I understand that USAA incubated their mobile app for over two years prior to running multiple pilots late last year and introducing it in January this year.
USAA is the first US financial institution to introduce a biometric mobile app but it won't be the last, congratulations to IdentityX for breaking the ice on this market, and hopefully this is a tangible sign that things are starting to move.
No, it doesn't mean that. The retail job was employee credentialing for physical and logical access.
GoVerifyID is a mobile authentication app to identify an individual trying to gain access to data or services. It is an enterprise type product for end users or consumers of services. It can be integrated into existing products like the Transunion ID Manager, CA SSO, Fujitsu Retail Marketplace POS, or Extenua Cloud2Drive, or used as a stand alone app for website logins etc.
I could be wrong about this (it happens) , but GVID isn't a direct to consumer "freemium" type app, about the only thing you could do with it would be to use it as an unprickable lock on your phone, which I don't think many people would sign up for. GVID adds value when it is linked to an account, a credit card, a healthcare system, or a product like those listed above which require strong authentication. IWS gets paid when someone downloads and installs the app, then enrolls and subscribes to the service. This could come, for example, as a white-label offer from a bank that uses the Transunion ID Manager product, or through a CA customer upgrading their SSO to multi- biometrics. The only reason to make it available in the App Stores now is because IWS thinks someone is going to need to download it.
"MIDW: Well thank you Jeff, I think you summarized that really well and having just returned from the Mobile World Congress in Barcelona, certainly cloud is playing a critical role in what I saw there. And speaking of all the different vertical markets that are now being affected by all this growth in mobility, which vertical markets are you focusing on?
IWS: With the exponential increase in cybercrime the past few years, the need for identity verification has never been more pronounced. This past year, retail, banking, and health records were all hit hard by cybercriminals. Add to this the expansion of SSO capabilities to make logging-in easier, and you see the major pain points in the markets. Finance, healthcare, and of course, IT will all gain huge benefits from improved user authentication. There are over 1400 Jeff Harris’ on LinkedIn alone and I do not want any of them accessing my medical or financial records. Of the 1 billion identities stolen in 2014 alone, I am sure mine was in there somewhere, and IWS does not want any of them accessing our corporate network either. Biometric verification provides the highest assurance to secure all of these points of access, and our IWS team will not rest until they are all secure. "
"Unfortunately, no single biometric works all the time. In noisy environments, voice can experience errors. In dark environments, face recognition is not as effective. When hands are wet or a finger is injured, fingerprints can fail. No single biometric will give you a 100 percent match, but fusing the results from multiple biometrics provides a much higher probability and higher assurance match. This is where match in the cloud is significantly more secure than on-device.
Finally, there is the concept of future-proofing. When the biometric industry started, the focus was primarily on creating better sensors. Biometric recognition algorithms were always embedded inside the hardware solution. As new capabilities were developed, upgrading meant customers often had to rip out their existing biometric solution and replace it. GoCloudID is designed to take advantage of new biometric algorithm developments and integrate them without impacting the end users. As biometrics become part of SSO systems, banking transaction approvals, password resets, and more, would you feel more secure using a single biometric on your phone, that you have to re-enroll every two years when you upgrade devices? Or is an anonymously stored set of biometrics that provides high-reliability fused identity verification results and takes advantage of hardware improvements automatically as they come on the scene, a better choice? "
Reply doesn't work.
Match-On-Device VS IWS Match-In-Cloud
"MIDW: There has been a fair bit of debate regarding cloud versus on-device biometric mobile solutions; can I get your view on this debate? Obviously you are moving to the cloud method.
IWS: If you are looking at biometrics as a ‘convenience feature’, then on-device makes a lot of sense. There are lots of times when your device is not connected to the cloud and you still need access. Where the debate looms is when biometrics are desired as a ‘security feature.’ When it comes to security, there are several reasons why ImageWare’s cloud-based storage will be more robust and more secure than on-device approaches. Let’s take the example where a single biometric is used to approve a financial transaction:
◾In the on-device case, a request from a bank server connects directly to a user’s mobile device asking them to authenticate using a biometric. The user, who previously enrolled their fingerprint on the device, is asked to authenticate. They do and a ‘yes’ is sent back to the requesting server.
◾In our case, a request comes to GoCloudID from the bank asking for identity verification for a record number. GoCloudID does not know to whom that record belongs to – only a biometric stored with a registered push message ID number that came when they initially enrolled. GoCloudID sends a verification request to that ID number and that user receives a text message asking them to verify with their enrolled biometric. They use their face or voice to verify and the match is completed anonymously in the cloud, resulting in a secure match approval back to the bank.
◾Which case sounds more secure?
April 21, 2015
Mobile ID World
"ImageWare is the only biometric identity management company in the market capable of supporting virtually any biometric modality, offering multi-biometric fusion, and securely storing and matching biometric data in the cloud anonymously. Multi-modal fusion capable of continuously leveraging the latest best-in-class biometric algorithms from the widest range of vendors, and secure anonymous storage of biometric data – that is what we do."
"IWS is the only company able to offer both single biometric verification AND multi-biometric fusion, the industry’s highest identity verification assurance method."
"Soon to be downloadable directly from the Apple and Google Play sites, GoVerifyID can be tied directly to a customer’s account for enrollment and verification of face and voice biometrics. It is simple, quick, and easy to use for applications capable of leveraging biometric sensors found on typical modern mobile devices, such as cameras and microphones. Thanks to big strides from our partner, Fujitsu, IRIS cameras are scheduled to enter the market in 2015 as well. In addition to our mobile clients, we also offer a series of PC-based client applications when customers want to employ non-mobile biometric modalities requiring special sensors, such as DNA, heart rhythm, etc. GoVerifyID offers complete out-of-band identity verification for any application. Customers love it because not only can GoVerifyID verify a user’s identity quickly and accurately, but our patented two-way push-messaging can make each message have the customer’s look and feel. Your bank transaction request will arrive in your bank’s logos, fonts, and colors while your corporate password reset request will come in using your company colors, fonts, and logo. We can even send customized interactive surveys using the same push-messaging channel. It is an exciting capability. "
This is an interesting use case opportunity for IWS, everything in the cloud gets stored in the cloud, cloud storage is measured in petabytes, and data security is a big issue. Cloud2Drive represents low cost, secure, aggregated storage, and is a legitimate target market and a great integration application for GoVerifyID. However, we need to be mindful that Extenua is a startup, Cloud2Drive is still in private beta, and according to Miller, the initial introduction will be IBM BlueMix, which is more of a passive marketplace. We all know how fast Silicon Valley startups can move if they get traction, let's hope that is the case here.
Good point, this has been a long haul, but they may have something to show for it finally.
"As we near release of the new Yowza!! mobile application"
See new Spindle Blog April 14, 2015 for First Look Yowza!! cloud based Mobile App.
Yowza!! has undergone a number of significant changes as the product has progressed and matured. In keeping with the innovations and competition in the market, we have rebuilt the Yowza!! platform from the ground up. Incorporating the best features and technology from the MeNetwork and Yowza!! platforms and updating the look and feel using current design trends, we now have a platform that can aggressively compete in the market."
13D filed April 1.
Charles Frischer Seattle WA
"Mr. Frischer has sole voting power and sole investment power with respect to 5,288,676 Shares."
Bought 445,000 open market last 60 days including 2630 shares of the Preferred.