REDWOOD CITY, Calif., Oct. 10, 2013 /PRNewswire/ -- DigitalPersona, Inc., a trusted partner for biometric identity verification solutions, today announced the acquisition of Identity Stream, a leading solution provider that leverages biometrics to ensure positive identification of customers and employees in financial institutions. Identity Stream's software solution is currently marketed with Temenos, the banking software company, as T24 Biometrics. The solution has seen growth in emerging markets by providing "one touch" identification for any transaction in the TEMENOS™ T24 core banking system.
This solution allows banks to cost-effectively launch new products, serve customers in emerging markets and decrease time at the teller in branch operations. It identifies customers and employees by scanning their fingerprints and matching that unique identifier with an identity profile stored on a secure server. DigitalPersona plans to enhance the application by integrating it with its industry-leading line of biometric hardware and software for strong authentication. Under the terms of the acquisition agreement, the Company will continue Identity Stream's partnership with Temenos.
"Integrating this software with our biometrics-based solutions will expand its functionality and give financial institutions more choices," said Richard Agostinelli, DigitalPersona president and CEO. "We see tremendous market potential for solutions like this on a global basis."
Agostinelli said DigitalPersona is experiencing rapid growth in the financial market because of a combination of increasingly sophisticated security threats and a need to improve service levels without increasing operating costs. "There are also large populations who previously did not have access to basic financial services due to a lack of personal identity doc
|SOURCE DigitalPersona, Inc.|
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