Aware Announces New Partnership with Uqoud to Bring Biometrics to Contract Management Platform
Aware, Inc. (NASDAQ: AWRE) has partnered with Uqoud to integrate Knomi, its mobile biometric authentication framework, into Uqoud's contract management platform. This collaboration enables Uqoud to onboard users remotely through facial biometrics and continuously authenticate them, enhancing security for contract signings. Aware's chief revenue officer highlighted the expansion of Aware's footprint in the Middle East as a significant milestone. Uqoud aims to eliminate document fraud while ensuring a smooth contract management process for their users.
- Strategic partnership with Uqoud enhances Aware's presence in the Middle East.
- Integration of Knomi allows for secure and efficient onboarding and user authentication.
- Potential for increased revenue through new markets and applications.
- Dependence on Uqoud's adoption of the biometric solution may limit control over success.
- Risks associated with the performance of the new product in meeting market expectations.
Uqoud Has Integrated Knomi®, Aware’s Industry-Leading Mobile Biometric Authentication Framework, Into its Contract Management Platform
BURLINGTON, Mass., March 14, 2023 (GLOBE NEWSWIRE) -- Aware, Inc. (NASDAQ: AWRE) today announced a new partnership with Middle East-based contract management platform provider Uqoud to integrate Knomi®, Aware’s industry-leading mobile biometric authentication framework, into the Uqoud platform. As a new part of Uqoud’s contract management platform, Knomi will enable Uqoud to onboard new users remotely using facial biometrics and identity verification and also continuously authenticate users through facial biometrics. This integration will empower Uqoud users to securely verify the identity of all stakeholders involved in contract signings with minimal friction.
“Aware’s partnership with Uqoud represents an exciting new use case for biometric authentication,” says Craig Herman, Aware’s chief revenue officer. “This news signifies that Aware’s footprint in the Middle East market is expanding, and by attracting a leader like Uqoud, shows both the flexibility and security of our solution. This opens up a lot of possibilities in the Middle East with other companies potentially looking to leverage a similar biometric authentication solution.”
“We are thrilled to offer biometric authentication as part of our contract management platform supporting a full contract management process,” says Mustafa Bilbeisi, Co-Founder at Uqoud. “Biometrics are the most reliable, secure form of identity verification and we’ll be able to verify the identities of all stakeholders involved in contract signings, including internal and external from the different organizations involved,” Bilbeisi continued. “Partnering with Aware will help us ensure our users’ utmost confidence in the legitimacy of their documents, virtually eliminating the possibility of document fraud while maintaining superior speed and convenience.”
Uqoud handles all contract and document matters to allow users to run their businesses smoothly. Users can send, negotiate and sign contracts with Electronic Know Your Customer (eKYC) identity verification within an all-in-one localized, customized and bilingual paperless contract management solution. Uqoud manages it all digitally, legally and securely.
Aware’s Knomi mobile biometric authentication framework uses mobile devices and browsers to provide a trusted process to onboard and authenticate customers securely and conveniently. With industry-leading face and speaker recognition, passive liveness detection, and flexible device-, server-, and browser-based options, Knomi is a secure, convenient customer onboarding and authentication framework for virtually any use case.
About Aware
Aware is a global authentication company that validates and secures identities using proven and trusted adaptive biometrics. Aware’s software and software-as-a-service offerings address the growing challenges that government and commercial enterprises face in knowing, authenticating and securing individuals through frictionless and highly secure user experiences. Aware’s algorithms are based on the most diverse data sets in the world and can be tailored to the unique security and requirements of each customer. The company empowers users to have control over identities through clear, intuitive opt-in/opt-out features, helping them feel secure and improving their lives. Aware is a publicly held company (Nasdaq: AWRE) based in Burlington, Massachusetts. To learn more, visit https://www.aware.com or follow Aware on Twitter @AwareBiometrics.
About Uqoud
Uqoud handles all contract and document matters to allow you to run your business smoothly. Send, negotiate and sign contracts with eKYC identity verification within all-in-one localized, customized and bilingual paperless contract management solutions. Uqoud manages it all digitally, legally and securely. To learn more, visit https://uqoud.com/
Safe Harbor Warning
Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as our expectations regarding our new product. Aware wishes to caution you that there are factors that could cause actual results to differ materially from the results indicated by such statements, including the risks that (i) current and prospective customers do not purchase our new product in the quantities that we expect and (ii) our new product does not perform as well as we expect because of errors, defects or bugs. We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our annual report on Form 10-K for the fiscal year ended December 31, 2021 and other reports and filings made with the Securities and Exchange Commission.
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