SmartMetric Development of Its Fingerprint Anti-Spoofing Technology Is a Breakthrough in the Biometric Fingerprint Industry

Rhea-AI Summary

SmartMetric, Inc. (OTCQB: SMME) has significantly improved its fingerprint scanning technology, enhancing its anti-spoofing capabilities for biometric credit cards. After extensive testing, the company found existing software algorithms insufficient for differentiating between real and fake fingerprints. SmartMetric's new solution aims to address these weaknesses, with plans to prepare and test the updated biometric cards with global payment networks. The company claims that its technology is superior to any existing solutions in the biometric fingerprint field.

Positive

• Enhanced anti-spoofing technology now ensures better security for biometric cards.
• Unique fingerprint scanning solution, claiming to outperform competitors.
• Plans to present biometric cards for testing to global payment networks, possibly expanding market reach.

Negative

• None.

SmartMetric, Inc. (OTCQB: SMME): After many years of research and development of its super thin fingerprint scanner that fits inside a credit card, SmartMetric has greatly enhanced its fingerprint scanning technology to provide rock solid anti-spoofing capability.

The biometric fingerprint recognition and scanning technology in the biometric industry to date, relies on software algorithms to attempt to differentiate between a live finger and a fake, say silicon replica of a finger. SmartMetric conducted exhaustive in-house engineering laboratory testing of these software based anti-spoofing processes with its team of engineers in Tel-Aviv, Israel and found that they did not adequately perform the task of recognizing between a fake finger and a live finger.

“We wanted to be assured that our fingerprint scanning technology would stand up to the most rigorous analysis of its anti-spoofing capability and finding the limitations in this area of software-based solutions, we set about to create a much sounder way of being able to distinguish between a live finger and a fake finger," said SmartMetric’s President & CEO, Chaya Hendrick.

The company spent a great deal of time in research and development in creating its new advanced anti-spoofing technology. As of now the company knows of no other biometric fingerprint specialist company that has anything close or resembling the effectiveness of the SmartMetric solution.

SmartMetric is now preparing new biometric cards with its advanced anti-spoofing technology and will be soon presenting these cards to a global payments network for its biometric card testing and approval. When the testing and approval is completed, the company will then be able to present its biometric card for use by the card networks associated banks and related card manufacturers.

There are over 10 billion¹ chip-based credit and debit cards now in circulation worldwide. The SmartMetric biometric solution has fingerprint scanning technology embedded inside the card that is used to activate the cards surface contact chip as well as its radio frequency contactless chip to enable a transaction. No fingerprint match of a live person fingerprint and the card will not work.

SmartMetric is a USA based company with sales and marketing partnerships in Latin America, Europe and United States. Engineering of the biometric card electronics is done in-house and is the owned intellectual property of the company.

SmartMetric has issued patents and patents pending surrounding its biometric card technology.

To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card. To view the company website: www.smartmetric.com

¹ Data Source: 10 Billion and Counting: What the Latest EMV^® Chip Data Means for Global Payments - EMVCo

Safe Harbor Statement: Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Also such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, if we are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Investors and security holders are urged to carefully review and consider each of SmartMetric Inc. public filings with the SEC, including but not limited to, if applicable, Annual Reports on Form 10-K, proxy statements, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210706005092/en/

FAQ

What recent advancements has SmartMetric made in fingerprint technology?

SmartMetric has improved its fingerprint scanning technology, focusing on advanced anti-spoofing capabilities.

How does SmartMetric's fingerprint solution compare to others in the market?

SmartMetric claims its technology is more effective than existing software algorithms used by competitors.

What is the current status of SmartMetric's biometric cards?

SmartMetric is preparing its biometric cards for testing and approval by global payment networks.

What market potential does SmartMetric see for its biometric technology?

With over 10 billion chip-based cards globally, SmartMetric aims to integrate its technology into this vast market.