Biometrics Growth Collides with General Market Conditions in Potential Blockbuster Deals |  Biometric update

Biometrics Growth Collides with General Market Conditions in Potential Blockbuster Deals | Biometric update

The activity and rumor of biometric mergers and acquisitions dominated the week’s headlines on Biometric update, with the launch of the potential sale of Idemia, talks between GBG and a possible buyer, and an agreement reached by Assa Abloy to acquire the Brazilian facial recognition Control iD. The big Australian banks lining up behind eftpos’ digital identity platform were also widely read, and Experian won two government contracts to help with digital identity infrastructure.

Top biometric news of the week

Idemia could be sold this year, perhaps as one company providing biometrics and digital ID technology and another serving the multinational’s other markets. General market conditions appear less than ideal, but the launch of the sale by venture capital owner Advent is said to be imminent.

A US private equity firm has also confirmed its interest in acquiring GBG in a potential $1.5bn deal, with exchange rates bolstering the buy side of the equation for the UK firm. . The company’s shares have been on a rollercoaster ride that seems more tied to outside forces than its own business. In a similar vein but for a different reason, Mitek is being devalued by investors to an unreasonable extent, a Forbes analyst claims, pointing to the future gains its acquisition of HooYu sets up.

Brazilian biometrics developer Control iD has been acquired by Assa Abloy for an undisclosed price to boost the global access control giant’s time and attendance tracking capabilities. Facial recognition is also being successfully used for access control at an Israeli hospital, thanks to Oosto, a visitor management system has been upgraded by Precise Biometrics, Safr has a new distributor ANZ and Genetec has been named l fastest growing company in space. by a market research company.

Australia’s four largest banks have all signed up to support eftpos’ ConnectID as a digital identity for accessing banking and other online services. The system aims to make digital transactions safer and easier. Customer trials are planned for later this year, with a full-scale launch in mid-2023.

A pair of UK government contracts won by Experian and potentially worth over $12.5 million combined will see the company provide authentication software, fraud prevention technology, PEP controls and sanctions , as well as validating email and phone numbers for the country’s digital ID system. The UK is also getting a new digital identity verification system for people registering businesses and a digital property marketplace system.

The “buy now, pay later” segment of the e-commerce market is growing rapidly, and so is the attention it receives from fraudsters. Seon Product Evangelist Gergo Varga writes in a Biometric update guest post that synthetic identity attacks against BNPL sites are easier to avoid, account takeovers are also all too common, and vulnerable vendors need to supplement liveliness and biometric checks with timely risk assessments real and other frictionless technologies.

Age-verification providers in the UK warn ICO against following in the footsteps of French and German regulators, who they say invited resistance by targeting only high-profile adult websites level for the application. OneID is the latest technology provider accredited for age verification by the national certification system.

IARPA’s Briar program recruited 900 volunteers to test long-range biometric identification technologies. The plan is to be able to identify people 1,000 feet from the ground or the air, and Polaris is working on facial recognition to identify people in the dark at a distance of 1,600 feet.

Human Rights Watch has long opposed facial recognition and has expressed reservations about digital IDs, but an interview with Maya Wang in the Bulletin of the Atomic Scientists makes it clear that cellphones and database integrations are part of it. of the main tools of the integrated joint operations platform. The IJOP is one of the main tools used by the Chinese government for mass surveillance in Xinjiang.

Decentralization is necessary to achieve universal digital ID that can deliver the interoperability, privacy, and convenience users seek in digital experiences, writes Vince Graziani, CEO of Idex Biometrics, in a guest post. The benefit to governments that goes beyond centralized databases can include better, faster and cheaper service delivery, Graziani says.

A pair of biometric vulnerabilities were disclosed this week, with Symantec identifying the exposed AWS access token used by third-party software vendors, leaving hundreds of thousands of biometric templates exposed. In the other case, a researcher demonstrated how to steal biometric templates from smart home devices with a droplock hack.

Please let us know of any editorials, podcasts or other content we should share with people in biometrics and the digital identity community in the comments below or via social media.

Article topics

purchases | biometric authentication | biometric identification | biometrics | digital identity | facial recognition | identity verification | investment | Research and development

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