Biometric Signature ID Announces Increased Demand for Company Solutions

Biometric Signature ID – Announces Increased Demand for Company’s Identity Proofing Solutions.

Dallas, Texas, – July 27, 2009. Biometric Signature ID CEO Jeff Maynard announced today that the company has signed multiple contracts for its’ Identity Proofing solutions. “The market in several verticals is demanding a new paradigm in Identity Proofing on the Internet. We are very pleased to begin work with several large companies and government agencies.” We will make announcements on these each separately says Maynard.

The problem that government, institutions and merchants face is Internet identity authentication. “Control of our identity” who we are, whether other people are allowed to masquerade and pretend to be us is out of control and is the fastest growing crime. 50% of identity theft is carried out using the web. Current web security methods are not effective in reducing this fraud. They are mostly centered on predicting identity or behaviors based on whether the user is who they say they are because they possess knowledge that is supposed to be secret.

With the Internet’s wide appeal comes the ability to uncover most of a users personal credentials including but not limited to: history, DOB, address, SS# and virtually all their financial information. This information obtained through strategies like keyboard capture programs, bot networks, phishing, social engineering Trojans are harvested by the hackers to commit identity fraud.

IT departments try to counter lack of adequate security by having users create longer passwords, have users change passwords every 3 months, provide education, add security questions etc.. Users cannot remember these changes and write them down- increasing the risks of fraud and importantly create adverse user experience. Users will not continue to access the Internet if it is hard to get on or it becomes harder and harder because more intricate questions may be asked of them. This might be especially true with elderly people.

Current online security methods like passwords, tokens or questions do not verify the physical person and this allows fraud to continue un-abated on the Internet. The evidence of this is reported daily as nearly 1 in every 4 Americans falls victim to identity fraud. Anyone can pretend to be you if they know you or have your credentials and can assume your identity on the Internet for monetary reward.

“We offer a multi layer approach that offers signature/gesture biometrics, image pattern recognition and online electronic signatures that deliver “Best in Class” features. Our solutions are all delivered online and require no additional hardware. The ideal identity proofing strategy is to identify the physical user and only a biometric can do this. Other biometrics require costly hardware and the use of questions or other strategies do not go far enough to authenticate identity of the physical user” said Maynard.

With the BSI system, identity authentication is performed using a dynamic biometric (BioSig-ID Online™) that captures the way the user moves/draws their secret code with their mouse. The user is asked to enroll in the system and creates a profile that is used to compare their signature using random, periodic, challenges. The user also enrolls in BSI’s second layer of identity proofing – Click-ID Online™ an image pattern recognition technology. The integrated solution offers a unique closed loop that allows the user the ability to perform an automatic password re-set and avoid costly help desk calls.
About Biometric Signature ID

A Dallas based software company, BSI provides identity proofing solutions to reduce identity fraud through its’ patented BioSig-ID Online™ biometric handwriting and gesture technologies. Activation is from any mouse, stylus or touchpad on any PC anywhere, anytime. BioSig-ID captures HOW you write/draw including your speed, direction, angle and length which are unique to each individual. Users enroll one time to create a profile (stored in a secure database) and thereafter validate their identity in seconds.

The way you draw or write with a mouse cannot be lost, stolen or borrowed – a major concern with PINS, passwords and tokens. When a user ID’s password or token is stolen or shared with a colleague, the system cannot know who the actual physical user is and the integrity of the system breaks down. BioSig-ID stops identity fraud by restricting access to only registered users who verify themselves against their stored biometric profile.

BSI also offers Click-ID Online (TM) technology that is stronger than a “hard” password or personal questions by clicking on specific objects from a selected image to verify the user’s identity. BSI’s electronic signature Sig-ID Online™ enables users to sign forms or contracts online instantly, thereby increasing revenues and providing proof that the user authorizes the action. BSI offers a complete line of solutions to meet the three most important aspects of Identity Proofing (I.A.A.) – Identify the individual, Authenticate their Identity and employ a technology that Authorizes a next action.

To learn more about how BSI solutions can help with your Identity proofing needs visit our web site at www.biosig-id.com and view our short video demos or call us