Precise Biometrics Partners Interswitch on Fingerprint Solution

Precise Biometrics and Interswitch have struck a deal aimed at facilitating fingerprint recognition with Precise Match-on-Card solution for bank applications.
The partnership is already engaged in a first project, which will provide license sales at a minimum of 200,000 euros in 2009; and sets out to build and promote biometric match-on-card solutions for the banking segment in Africa; with Nigeria as a first target.
Interswitch had introduced the Verve card, which has laudable security features; and now its partnership with Precise Biometrics affords it the opportunity to provide fingerprint recognition and Match-on-Card features on Verve. With fingerprint recognition and Match-on-Card, banks, governments and organizations can increase internal security through personnel verification and Know Your Employee (KYE).
Mitchell Elegbe, MD/CEO, Interswitch said: “Interswitch is pleased to enter into this partnership, as Precise Biometrics is the leading provider of biometric Match-on-Card solutions and we believe that our joint efforts and technological know-how will have great commercial potential in the West African region.”
He said that unlike existing biometric solutions, which due to fluctuations in power and communications do not accurately match fingerprints on network devices, external servers or databases, Precise’s Match-On-Card solution works seamlessly to ensure this problem is eliminated, adding that Interswitch decided to collaborate with Precise Biometrics because of the potential to jointly provide accurate payment, identification and authentication solutions in Nigeria.
Thomas Marshall, CEO, Precise Biometrics said: “We are very pleased to have come to an agreement with Interswitch which will place Precise Biometrics in a prime position to capture the rising biometric opportunities within the financial sector of West Africa. The Partnership is strengthened by our ongoing National ID card projects and we have substantial commercial expectations for the partnership in 2010 and onwards.”
Precise Match-on-Card is in the process of storing and matching fingerprint information on a smart card to establish the physical presence of an individual. As the fingerprint information does not leave the card, there is no need for database or online communication, and the cardholder’s integrity is preserved.