NXT-ID Inc., a biometrics company focused on the growing mobile commerce market, today announced that it has issued the following product update for the Wocket™ and 3D FaceMatch™ Systems.
He also added, "At the heart of NXT-ID's new paradigm is real-time, dynamic, multi-factor biometric authorization that is user friendly and extremely difficult to hack, thus providing greater security beyond conventional security systems. This system combines multiple attributes that are unique to each user such as face, voice, fingerprint, and retina with multiple attributes that are unique to other identifiable features, such as devices and accounts, to form an impenetrable security solution. By introducing this new paradigm, NXT-ID hopes to shatter the conventional User/Password structure that currently exists."
"The market opportunity for NXT-ID's biometric security products is significant. The Wocket™ alone has a target market of nearly
NXT-ID's expertise in biometrics, along with its growing patent portfolio of cutting edge technology, gives the company a solid foundation upon which to make the new security paradigm a reality in the marketplace. The product roadmap is ambitious with several new security products scheduled for release in the months ahead, all of which are based off of the company's Mobile-Bio™ platform. NXT-ID is using its Mobile-Bio™ platform to commercialize a range of next generation security products targeted at a range of applications that extends across multiple segments. These products include:
1. The Wocket™ - a new class of biometrically secure mobile devices designed to bring the traditional wallet into the 21st century by providing the functionality of a wallet and incorporating a touch screen and a single dynamically programmable card to use for credit, debit and any other magnetic stripe functions.
2. Mobile-Bio FaceMatch™ - 2D, 3D and pseudo 3D methods to perform facial recognition. Additionally, NXT-ID is seeking to incorporate its patent pending "FacePassword" as a method to add multi-factor face and face movement to Dynamic Pairing Codes using simple low-power embedded processor on an external device (biosensor), such as a Wocket™, that then connects to other end-points using Dynamic Pairing Codes.
3. Mobile-Bio Sensor™ - a simple, web-enabled, biometric-enabled external device that is used for local authentication and remote authentication with the BioCloud™ and/or remote servers.
4. VoiceMatch™ - a unique biometric-enabled method to add multi-factor biometric identifiers (both speech and speaker recognition) to Dynamic Pairing Codes using simple low-power embedded processor on an external device (e.g., BioSensor), such as the Wocket™, that then connects to other end-points using NXT-ID's Dynamic Pairing Codes.
5. Mobile BioCloud™ - a cloud-based end-point (authentication service) to authenticate any "end-point" along a communication path, such as external biosensors such as the Wocket™ and/or other PCs or servers along the path. A dynamic pairing code is sent to the BioCloud™ where it is combined with other "identifiers" (such as device serial number, master key, wallet key, dynamic pairing keys, Firmware key) dynamically (per NXT-ID's proprietary algorithm that selects which identifiers are used when) to issue a response, which is the compared by each end-point.
NXT-ID's Mobile-Bio™ platform is diverse and contains a host of proprietary, next generation security technologies. The diversity of the platform is a key asset. It reflects the experience and depth of the company's management and software developers in biometric technology. The platform enables NXT-ID to produce a range of innovative products incorporating proprietary methods targeted at different applications and market segments that includes m-commerce, enterprise, law enforcement, defense and Homeland Security.
NXT-ID plans to develop and foster market niches targeted at consumers and small business while continuing to serve the law enforcement and defense markets.
The Company is currently testing its 3D FaceMatch system for law enforcement with
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