Separated from its original company, Princeton Identity intends to capitalize on the research base of SRI International to concentrate on markets that require manufacturing in volume, among other things.
“We built the foundation for our solutions as part of SRI International, a world-renowned R&D organization, where we developed and delivered leading-edge identity management systems mostly for government and military applications,” said Mark Clifton, CEO of Princeton Identity. “Going forward as an independent entity, we will be able to focus on productization for general markets including security, healthcare, and banking and finance. These markets require manufacturing in volume, integration with related systems, and putting support elements in place that will be essential to create an ongoing, successful venture.”
The company’s primary focus will be those markets where accurate identity readers and identity management systems will make a big impact on increasing security and reducing fraud. The company claims to have a specialty in biometric identity systems and iris recognition in particular that will be an important part of their offerings.
“We expect to offer a full range of identity management products including multi-factor readers and management software to meet market needs,” Clifton said.
However, the market is not without competition as the number of companies offering biometric solutions are on the rise, especially in fingerprint and facial recognition segments. But Clifton believes that their patented iris recognition system will help them stand out in the market.
“There are a number of firms that are offering biometric identity readers, such as fingerprint readers and facial recognition systems,” Clifton added. “However, iris recognition is far more accurate than these other methods, so we expect that it will be part of what sets us apart. To our knowledge, we have patented the most versatile and accurate iris-recognition system, able to work indoors and outdoors. We can offer this system not only as a stand-alone product but also as a multi-factor authentication system that uses more than one method simultaneously. Our technology has already been recognized by global firms to meet their speed and accuracy requirements, for use in mobile devices, for example. We expect to continue to win new business and are looking forward to a bright future for the company.”