Precise Biometrics Issues Its Annual Report

“…biometric cards represent another significant opportunity for Precise Biometrics, whose software is currently being used in a Visa pilot with Fingerprint Cards, Kona I, and Mountain America Credit Union”

Precise Biometrics has issued its Annual Report. Coming on the heels of a year-end fiscal update depicting a net loss resulting from competitive pressures in the mobile biometrics market, the company is focusing on new opportunities and an adaptive strategy.Precise Biometrics Issues Its Annual Report

Taking an overview of 2017, Precise Biometrics highlights its collaborations with partners specializing in ultrasonic and optical sensors, “which are expected to generate new business opportunities in 2018.” The company also notes that it signed six new licensing agreements for its fingerprint scanning software, “continuing to widen the distribution channel for the company’s solutions for both mobiles and biometric cards.”

And those biometric cards represent another significant opportunity for Precise Biometrics, whose software is currently being used in a Visa pilot with Fingerprint Cards, Kona I, and Mountain America Credit Union. In its 2017 report, the company says it “strengthened its position in the market for biometric cards thanks to successful test projects, new business partners and an enhanced product offering.” And commenting on the Visa pilot in particular, Chairman Torgny Hellström said it’s “a milestone in the development of biometric payment cards and enhances our position in the market.”

Hellström also had kind words for Precise Biometrics’ newly appointed CEO. “We look forward to seeing Stefan K. Persson, with his extensive experience of China and business development in technology companies, take over as the company’s CEO by August 1 at the latest,” he said, adding that Persson “will further intensify our focus on the broad application of biometrics.”

(Originally posted on FindBiometrics)