KeyLemon's Applications Enhance the Accuracy and Security of VerifyMe's Multi-Factor Authentication Solutions
NEW YORK, Oct. 21, 2015 (GLOBE NEWSWIRE) -- VerifyMe, Inc. (OTCBB:VRME), a pioneer in patented physical, cyber and biometric technology solutions that prevent identity theft, counterfeiting and fraud, announced today that it has licensed and is incorporating KeyLemon's Advanced Biometric solutions into the new version of its ID Services platform, which will be available before the end of this year. VerifyMe selected KeyLemon's solutions for their accuracy and high level of security.
"There are three very important aspects to user authentication technology. It has to be secure, it has to be accurate, and it has to be intuitive and easy to use," said Paul Donfried, Chief Executive Officer of VerifyMe. "KeyLemon's algorithms are excellent additions to our suite of patented authentication tools," continued Donfried. "Their solutions refine the biometric information collected, making facial and voice recognition more accurate, and allowing quicker user verification against biometric profiles stored in the cloud. What is more, KeyLemon's sophisticated, one-way algorithms ensure that data collected and stored holds no value to hackers."
Using a smart phone or other connected devices, VerifyMe's ID Services platform replaces passwords and PINs with an intuitive, user-friendly, multi-factor authentication process. It has the ability to authenticate individuals using facial, fingerprint, voice and swipe pattern recognition, as well as location detection and approved IP/WIFI address detection. Its proprietary, patented solutions support an unlimited number of authentication tools - including knowledge, possession, biometric factors and GPS - and is platform agnostic.
"We don't just authenticate a user's face, fingerprint or voice," commented Donfried. "Using a very simple user interface, our solution identifies that the user is a living person, not just a photo or video of the face, and it learns to identify that specific user even in a low light or noisy environment," Donfried continued.
The application employs three factors of security instead of simple passwords, providing the highest levels of confidence, security and account protection within seconds. With applications ranging from protecting current account passwords to protecting financial and identity information across a wide array of industries, VerifyMe's solutions shield consumers and businesses from identity fraud and theft.
"We are excited that VerifyMe selected our technology. The capabilities we provide add tremendous value and ease of use to both consumer and enterprise users," said Gilles Florey, Chief Executive Officer of KeyLemon. "VerifyMe focuses primarily on the enterprise market, where safety and privacy of customers and employees is of prime importance. This market can clearly benefit from 3D depth-sense cameras and efficiently combine depth, near-infrared and visible spectrum facial information and other capabilities our technology enables."
About The Companies
VerifyMe is a high-tech solutions company in the field of authenticating products and people. VerifyMe's physical technology authenticates products, documents and currency with a suite of proprietary security inks and pigments. The company's digital technology authenticates people by performing strong, multi-factor verification via its patented digital platform. To learn more, visit www.verifyme.com.
About KeyLemon - KeyLemon S.A. offers convenient, secure and continuous biometric authentication solutions based on face and speaker recognition. KeyLemon's latest face recognition algorithms take full benefit of 3D depth sensing cameras by efficiently combining depth, near infrared and color information. Used by consumers and enterprises worldwide, KeyLemon can easily be integrated into any device, system or application to improve online transaction authentication, facilitate access to mobile apps and services, and enhance safety features in machinery such as automobiles.
This press release includes "forward-looking statements," which may be identified by words such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to: our ability to raise additional capital, our limited revenues generated to date, our ability to attract and retain qualified personnel, the ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions, and other factors set forth described in our filings with the Securities and Exchange Commission ("SEC"), including our annual report on Form 10-K filed with the SEC on April 16, 2015. VerifyMe (formerly known as LaserLock Technologies) expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
Contacts: Investors and Media: Benjamin Burrell Chief Operating Officer email@example.com 212-994-7002 x702 Investor Relations VerifyMe IR@verifyme.com KeyLemon Mr. Gilles Florey, CEO firstname.lastname@example.org