Redrock Biometrics! founded in 2015 and headquartered in San Francisco says that it is introducing the first palmprint biometric solution that works with any camera-equipped device including smartphones, tablets, laptops, desktops, smart TVs, and VR and AR headsets.
Named PalmID Capture Module, it uses sophisticated machine vision techniques to convert RGB video of the palm into a template for authentication.
Leonid Kontsevich the chairman of the company who describe themselves as on a crusade to eliminate identification cards, pin numbers, passwords, and voice identification technologies told Techcrunch that the technology will solve the perennial problem of passwords and identity management and will “see broad applications in authenticating payments in virtual worlds, physical security, and cash withdrawals among other transactions.”
Kontsevich a graduate of the Moscow Institute of Physics and Technology worked with the startup Kaching! added that “there is no other commercially available palm biometric which works with RGB camera”.
With a simple wave of the hand, the technology converts a palm image into a unique signature and authenticates the user in 10 – to 100-milliseconds depending on CPU speed. The technology uses machine vision techniques to detect a palm in a video stream, passes its descriptor for enrollment or verification and can run on either a client or a server by matching a verification request against an enrollment template using proprietary algorithms tested on thousands of palms.
It also said that its biometric identification technology is “enrollment portable”, with authentication technologies available for sign-in authentication across Windows, Android, iOS, Mac OS, and Linux as well as stand-alone client-server technologies.
According to a recent report from Risk Based Security, more than 4.2 billion user credentials and passwords were stolen in 2016, with approximately 95 passwords stolen every second.1 Forrester estimates that account takeover causes at least $6.5 – $7 billion in annual losses across a broad range of industries including financial services, insurance, e-commerce, and healthcare.
In a related development, behavioral biometrics and threat detection firm BioCatch which monitors 4 billion transactions per month for a handful of major banks announced it is working with software solutions and IT services company, Samsung SDS America, to combat fraud that occurs after a user has logged in.
Through the partnership, BioCatch says it will integrate a layer of fraud protection that works beyond the login process into Samsung SDS’ Nexsign enterprise biometric authentication software.
The integration is intended to fill security gaps that occur when mobile apps don’t require users to login multiple times to validate their identity. To solve this, BioCatch will collect and analyze more than 500 parameters around a user’s activity– continuously monitoring their behavioral patterns within the app to authenticate the user and detect abnormal bot or malware behavior.