Collaboration Opens New Revenue Opportunities for Both Organizations to Bring Seamless Biometric Authentication Integration to Financial Services Institutions
BURLINGTON, Mass., Dec. 19, 2023 (GLOBE NEWSWIRE) — Biometric authentication technologies have witnessed a significant increase in demand in the global financial services industry in recent years, and the Middle East, Asia and Africa are no exception. With more traditional forms of authentication like passwords increasingly vulnerable to hacking, financial services firms and their users are demanding a more secure and convenient way to verify identities.
To help meet this demand, today, Aware, Inc. (NASDAQ: AWRE), a leading global authentication company, and Avanza Solutions, a provider of digital platforms and services for banking, financial institutions, and other sectors, have announced a collaboration to deliver world-class biometric authentication solutions to the Middle East, Asia and Africa.
“In the near future, the Middle East and Africa are expected to be the fastest-growing regions in the world for financial services. This represents a huge opportunity for us, as financial services providers seek to achieve enhanced security and user convenience, along with regulatory compliance,” says Craig Herman, chief revenue officer at Aware. “Collaborating with Avanza Solutions will be instrumental in helping us scale and maximize this opportunity in these regions.”
“As Aware expands its footprint, we are very pleased to partner to bring both cloud-based and on-premises solutions from this recognized global industry leader to current and prospective customers,” says Jalil Ahmed Farooqui, group head of business development at Avanza Solutions. “We are confident that our collaboration will benefit both of our organizations and most assuredly, the financial institutions that we work with.”
Avanza Solutions is the latest addition to Aware’s partner program, and an excellent example of how a technology provider can competitively differentiate by offering Aware’s technology combined with their local, regionalized and specialized expertise. Through this partner program Aware helps technology providers increase revenue streams by offering biometric authentication capabilities.
About Aware
Aware is a global biometric platform company that uses data science, machine learning, and artificial intelligence to tackle everyday business and identity challenges through biometrics. For over 30 years we’ve been a trusted name in the field. Aware’s offerings address the growing challenges that government and commercial enterprises face in knowing, authenticating and securing individuals through frictionless and highly secure user experiences. Our algorithms are based on diverse operational data sets from around the world, and we prioritize making biometric technology in an ethical and responsible manner. Aware is a publicly held company (NASDAQ: AWRE) based in Burlington, Massachusetts. To learn more, visit our website or follow us on LinkedIn and X.
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) we derive a significant portion of our revenue from third party channel partners , and (iii)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, 2022 and other reports and filings made with the Securities and Exchange Commission.
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