Biometric identity verification firm DigitalPersona has acquired Identity Stream, a software provider that offers banks a one-touch authentication system for transactions.
The Identity Stream software identifies customers and employees by scanning and matching their fingerprints with profiles stored on a secure server, according to a Thursday press release from Digital Persona. Digital Persona plans to integrate the software with its current line of biometric software and hardware.
DigitalPersona will continue Identity Streams current partnership with banking software company Temenos, according to the release. The financial terms of the deal were not disclosed.
"Integrating this software with our biometrics-based solutions will expand its functionality and give financial institutions more choices," Richard Agostinelli, DigitalPersonas president and chief executive, said in the release. "We see tremendous market potential for solutions like this on a global basis.
There are also large populations who previously did not have access to basic financial services due to a lack of personal identity documents," Agostinelli continued. "This solution provides those customers with new alternatives and creates new markets for banks, credit unions and other financial institutions. We are very pleased to be working with Temenos, a world leader in the financial market, in this endeavor.
DigitalPersona is based in Redwood City, Calif.