MOUNTAIN VIEW, CA— October 20, 2008 — Based on its recent analysis of the non- AFIS (Automated Fingerprint Identification System) fingerprint market, Frost & Sullivan recognizes Precise Biometrics with the 2008 Global Frost & Sullivan Award for Emerging Company of the Year for its high-quality authentication method, Precise Match-on-Card™.
Precise Biometrics offers a software combination of smart card and fingerprint technology demonstrating superior performance, extremely secure and accurate authentication. The company has offered its core technology, Precise BioMatch™, since 1999. Precise BioMatch™, in combination with smart cards, is used to create the secure, highly accurate Precise Match-on-Card™ system, which both stores and matches fingerprints on a smart card. It not only replaces personal identification numbers and passwords but also makes use of the secure environment of the chip.
Frost & Sullivan Research Analyst Neelima Sagar noted, “Exceptional customer service and support, technical expertise, and strategic alliances and partnerships have contributed to the success of Precise Biometrics. The company has been able to serve its customers globally because of its trustworthy relationships with its partners.”
Precise Match-on-Card™ offers several key differentiating factors that ensure its security as well as its excellent level of customer satisfaction. The interoperability of the system allows each client to tailor the requirements of readers, smart cards and applications based on specific budgets and needs. The security is based on the smart card security infrastructure. The card integrity and the user privacy are preserved due to matching decisions being taken entirely inside the card. The logic remains identical to on-card PIN verification. Therefore, the scalability, flexibility, security and ease of deployment, for which the smart card is so justly appreciated, is maintained with the introduction of Precise Match-on-Card™ biometrics.
Precise Biometrics has achieved noteworthy customer satisfaction levels. The company's credibility lies in its long list of customers in diverse verticals, including finance, government, healthcare, travel and transportation, and telecommunications. Some of the company's more noteworthy client projects involve the Thai government adopting Precise Match-on-Card™ for its national ID cards and the Portuguese government doing the same, allowing its citizens to access government services via fingerprints. The company works closely with all clients to ensure that they are provided with the most effective, unique solution.
“Precise Biometrics' efforts to create a secure, reliable, and innovative product make them an eminent player in the non-AFIS fingerprint market, and a worthy recipient of Frost & Sullivan's 2008 Emerging Company of the Year Award,” added Sagar.
Each year, Frost & Sullivan presents this award to the company that has carried out new research, resulting in innovation(s) that have or are expected to bring significant contributions to the industry in terms of adoption, change, and competitive posture. This award recognizes the quality and depth of a company's research and development program as well as the vision and risk-taking that enabled it to undertake such an endeavor.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Precise Biometrics
Precise Biometrics AB is an innovative company offering solutions for fingerprint recognition to prove people's identities. With top-of-the-line expertise in fingerprint verification, Precise Biometrics offers fast, accurate and secure authentication of a person. Our core product Precise BioMatch™ integrates into ID and bank card programs and secure chips, as well as systems for access control to buildings, computers and networks. We act on a global market and our technology is licensed to more than 78 million users all over the world. The Precise Biometrics group has subsidiaries in Sweden (with group headquarters in Lund), Great Britain, Hong Kong and USA, and a joint venture agreement in China. Precise Biometrics is listed on the small cap list at the Nordic Exchange in Sweden (symbol:PREC). For more information, please visit http://www.precisebiometrics.com/
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership™ empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan's Growth Partnership Services, visit http://www.awards.frost.com.