Imageware and TECH5 Announce Global Partnership and Provide New Biometric Solution for SISCO

Rhea-AI Summary

Imageware (OTCQB: IWSY) has formed a global partnership with TECH5, enhancing its biometric identification solutions. The collaboration will integrate TECH5's biometric algorithms into Imageware’s products, significantly enhancing their capabilities in the government and commercial sectors. The partnership also involves providing the Imageware Identity Platform to SISCO, a leader in visitor management systems, enabling facial recognition technology for the cruise line industry. This strategic move aims to streamline processes and improve safety in marine and visitor management.

Positive

• Partnership with TECH5 to enhance biometric solutions.
• Integration of TECH5’s algorithms into Imageware’s product line.
• Provision of Imageware Identity Platform for SISCO to enhance visitor management.
• Increased operational efficiency and safety in cruise line onboarding processes.

Negative

• None.

SAN DIEGO, Sept. 14, 2021 /PRNewswire/ -- Imageware® (OTCQB: IWSY) ("Imageware" or "the Company"), a leader in biometric identification and authentication, today announced a global partnership with TECH5®, an innovator in the field of identity management solutions, to become a value-added reseller ("VAR") for its solutions. Through this agreement, all TECH5 offerings will be available through integration with the existing Imageware product portfolio.

Imageware and TECH5 Announce Global Partnership and will Provide New Biometric Solution for SISCO.

TECH5 provides top-rated biometric algorithms and matching platforms for face, iris, and fingerprint recognition for use in both government and commercial enterprise solutions. TECH5 also provides innovative technology such as contactless fingerprint capture and Digital ID solutions protected by biometrics. As a VAR, Imageware will be integrating TECH5's biometric technology across its products, which includes Imageware Proof, Imageware Authenticate, Imageware Identify, and the Imageware Biometric Engine and others.

Imageware also announced today that it will be providing SISCO, Inc. ("SISCO"), a leader in visitor management systems, with the Imageware Identity Platform, powered by TECH5 technologies, to enhance its product portfolio for the marine and visitor management industries. The Imageware Identity Platform adds facial recognition to SISCO's mobile solutions for the cruise line industry through the Identity Platform powered  by TECH5's facial recognition biometric algorithm. As the provider of hardware and software solutions for approximately 40% of the cruise line industry, SISCO will offer this product as an upgrade to existing customers and a differentiator for attracting new ones. Cruise lines using this solution can now leverage facial recognition technology for onboarding passengers and for emergency situations at muster stations, which greatly increases the convenience, security, and speed of both processes. Creating a versatile biometric platform to be used throughout the marine sector (e.g. military vessels, container ships, oil rigs, barges, ferries and Ro-Ro) is critical to the safety and security of people, ports and countries.

"This strategic partnership with TECH5 enables Imageware to include accurate and fast biometric algorithms and technology into our products and augments our offerings for both the private and public sectors," said AJ Naddell, SVP of Product Management & Sales. "TECH5's suite of algorithms is highly-rated by NIST in several categories, and we appreciate the opportunity to work with their innovative team. Our strategic partnership with SISCO will serve as a calling card to highlight our joint capabilities with TECH5, and it enables us to provide leading biometric identity management solutions to new industries and use cases, including the marine safety and security industries and corporate visitor management solutions. We look forward to increasing our addressable market in the cruise line and marine industry and to further expanding our footprint across different verticals."

Rahul Parthe, Co-founder, Chairman, and CTO of TECH5 added: "TECH5 focuses on providing leading and innovative biometric technologies, thereby enabling our key strategic partners like Imageware to provide industry specific solutions. We are very excited to work with Imageware as they can apply our technologies to many use cases in federal, state and local governments, as well as a multitude of private sector verticals. Using TECH5's facial recognition technology as part of the Imageware Identity Platform to provide solutions for the cruise line industry and for enterprise visitor management systems demonstrates how Imageware can extend our solutions to even more markets."

Anthony Zagami, CEO of SISCO added: "Increasing the speed and efficiency of ship-boarding processes and mandatory safety mustering exercises at the start of cruises is very important for customer satisfaction. These processes require considerable cruise ship staff resources and often delay the customers' enjoyment of their vacations. This new biometric identification solution will save time and provide customers with more safe, satisfying, and secure onboarding and mustering processes."

About Imageware®
Imageware identifies, verifies and authenticates who people are, not just what keys and codes they have. Our Cloud-based, multimodal biometric solutions provide faster, accurate identification to better secure communities, data and assets. Imageware solutions are trusted globally by government agencies, law enforcement and private enterprises. Imageware: Identity with Biometric Certainty. For more information, please visit www.imageware.io.

About TECH5®
TECH5 is an international technology company which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning  technologies. Its dedication and efforts in continuously investing in the research and development to take advantage of AI in all biometric modalities has resulted TECH5's algorithms being consistently ranked top in NIST ranking for its face, fingerprint and iris recognition technologies. The company was founded by a team of seasoned industry professionals, who have been innovating in the field of multi-modal biometrics for more than 20 years. Target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as Authentication solutions that deliver Identity assurance for various use cases. For more information please visit www.tech5.ai

About SISCO
Founded in 1994 and located in West Palm Beach Florida, Security Identification Systems Corporation (SISCO) is the pioneer in developing leading edge Visitor Management Solutions. Initially, our systems were designed for the cruise lines to track passengers and crew on and off a ship. Our A-PASS system soon became the Industry Standard for every modern cruise line which has processed over 170 million plus passengers and crew since its introduction.

Forward-Looking Statements
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "if," "should" and "will" and similar expressions as they relate to Imageware are intended to identify such forward-looking statements. Imageware may from time to time update publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. Factors that may cause the projections to change or differ may include, but are not limited to, the ability to of the Company to continue to grow revenue, the ability to decrease operating expenses and continue to grow profit margins, and the Company's ability to continue to achieve positive cash flow given the Company's existing and anticipated operating and other costs. For a discussion of additional risks and uncertainties, see "Risk Factors" in Imageware's Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.

Media Contact:
Theresa Hernandez
Imageware®
thernandez@imageware.io

Yulia Bibikova
TECH5®
yulia.bibikova@tech5-sa.com 

Investor Contact:
Brian Prenoveau
MZ North America
+1-561-489-5315
brian.prenoveau@mzgroup.us

View original content to download multimedia:https://www.prnewswire.com/news-releases/imageware-and-tech5-announce-global-partnership-and-provide-new-biometric-solution-for-sisco-301376353.html

SOURCE ImageWare Systems, Inc.

FAQ

What is the significance of Imageware's partnership with TECH5 for IWSY shareholders?

The partnership enhances Imageware's biometric identity solutions, potentially increasing market competitiveness and revenue opportunities.

How will the Imageware Identity Platform benefit SISCO and its customers?

The Identity Platform will incorporate facial recognition technology, improving onboarding processes and security for cruise lines.

What technologies are being integrated into Imageware's solutions through the TECH5 partnership?

TECH5's biometric algorithms for face, iris, and fingerprint recognition are being integrated into Imageware's existing product line.

What impact might the partnership with SISCO have on Imageware's business performance?

It could lead to enhanced product offerings, improved customer satisfaction, and increased sales in the marine and visitor management sectors.

What are the goals of the Imageware and TECH5 partnership?

The goals include expanding biometric technology applications across various sectors and enhancing safety and security solutions.