As the results from the MINEX II report is released, Precise Biometrics (STO:PREC) emerges with the fastest standardized Match-on-Card and outstanding performance. Precise Biometrics (STO:PREC) is also the only biometric supplier who passed with 3 different card vendor submissions - a unique achievement in the industry. This gives Precise Biometrics a great position in the US where a new presidential directive has opened up a government ID market comprising 5.7 million users.
MINEX II is the leading interoperability test for Match-on-Card, preformed by NIST - the US National Institute of Standards and Technology. Great results in MINEX II gives Precise Biometrics a great market position in upcoming US government projects as NIST has decided to include Match-on-Card in the large PIV (Personal Identification Verification) program. PIV is a program that specifies how all US federal employees and contractors shall identify themselves.
A new directive also states that all US government agencies must implement PIV starting 2012, and each agency is to have a policy for implementation in place on March 31. This opens up a significant market that includes 5.7 million users in the US government.
As MINEX II is the key standard to qualify for these projects Thomas Marschall, CEO at Precise Biometrics, sees great business potential in the MINEX II outcome.
- We have been the market leaders for Match-on-Card for many years now so we were of course pleased, but not surprised, to hear this excellent outcome. With the highest number of sold Match-on-Card licenses in the world and with our top ranked MINEX II compliant Match-on-Card, we are very well positioned for the PIV market which is expected to grow extensively with this new presidential directive. We might even see PIV extending beyond federal ID programs. As such, we estimate the PIV market demand to be 15-20 million people within the next 3-4 years.
Precise Biometrics presented three submissions to MINEX II with three different card manufacturers; Gemalto, Giesecke & Devrient and SPYRUS of which the former two mentioned are among the largest worldwide. All three submissions passed with nearly identical, outstanding results; while the submission with SPYRUS proved to be the fastest overall of any vendor worldwide.