LUND, Sweden, Nov. 6, 2002 (PRIMEZONE) -- Precise Biometrics AB (publ) (Other OTC:PBMTF), developer and provider of world-leading and user-friendly biometric security solutions based on fingerprints, has signed a Memorandum Of Understanding (MOU) with Keycorp Limited, the Australian secure electronics transaction company. The MOU covers the integration of Precise Biometrics' software for fingerprint functionality, Precise BioMatch(TM) C, into Keycorp MULTOS, one of the world's most secure operating systems for smart cards. Precise Biometrics and Keycorp will jointly market the new product. Under the agreement the two companies will also work to develop API standards for integration of biometrics into the MULTOS smart card operating system.
Keycorp is one of the world's major providers of MULTOS, a highly secure and multi-functional smart card operating system. MULTOS cards are used by many of the large multi-application card issuers worldwide, targeting payment and ID applications. Keycorp's MULTOS is issued by MasterCard member banks globally, and is the chosen technology for the Hong Kong ID card project (SMARTICS).
"The cooperation with Keycorp gives us not only a new distribution partner, but also the opportunity to enter a new market segment. The market for highly secure smart cards for payment and identification is increasing significantly, and this in turn will drive the need to define the standard for biometrics functionality on smart cards. Anyone who aspires to set a worldwide standard in smart cards will need a presence in the MULTOS market," said Jonas Andersson, manager Smart ID at Precise Biometrics.
"Security and privacy are two key issues in the smart card industry today. By combining biometrics with the already highly secure Keycorp MULTOS operating system, card issuers can confidently address these concerns with their customers," said Bruce Thompson, Chief Executive Officer, Keycorp Limited. "The cooperation between Precise Biometrics and Keycorp is a major step forward for the smart card industry worldwide. Together, we will be able to provide highly secure, competitive and timely solutions that will greatly assist in curtailing today's very demanding issues such as fraud and identity theft," said Bruce Thompson.
At the Cartes trade show in Paris, France, on November 5-7, Keycorp is demonstrating the benefits of the Precise MatchonCard(TM) functionality on MULTOS smart cards.
Precise Biometrics AB (publ) is an innovative security company that supplies world-leading systems for authentication using fingerprints. The solutions supplied by the company replace keys, PIN codes and passwords. The company's products are cost effective and provide security and comfort combined with topclass protection of personal integrity. The range of products includes systems for access control to computers and networks and for building into mobile and terminals, such as mobile phones and portable computers. The company headquarters are in Lund, Sweden. The company also has offices in Stockholm and a U.S. subsidiary in Washington, D.C. Precise Biometrics is listed on the O-list of the Stockholm Stock Exchange (symbol: PREC A). For additional information, visit www.precisebiometrics.com
Keycorp Limited (ASX:KYC) is a global provider of secure electronic transactions: with solutions from smartcards and pointofservice transaction systems to network carriage and payment engines.
Keycorp's electronic payment terminals include smartcard-capable online and offline terminals capable of processing credit, charge, debit and stored value transactions. The terminals are designed for use at a retail point of sale, over the phone, in mobile environments or via the Internet, and can communicate with host systems via fixed or mobile communications. Keycorp is a founding member of the MULTOS consortium, which has responsibility for developing the MULTOS multi-application smartcard operating system. Keycorp develops and distributes smartcard operating systems such as MULTOS and OSSCA, as well as smartcard applications, smartcard personalisation and SIM cards for GSM mobile phones. Keycorp's ecommerce platform delivers secure and truly end-to-end online transaction processing interfacing services like IVR (integrated voice response), call centres, mail, telephone or fax ordering and Internet based transactions.
About Keycorp MULTOS
The MULTOS (multi-application smartcard operating system) standard provides for high levels of privacy between multiple applications on the same card, with application firewalls ensuring the integrity and security of applicationspecific code and data. Keycorp's version of the MULTOS operating system is one of the most secure in the world (certified to ITSEC's highest level, E6) and is used by many of the large multi-application card issuers worldwide.