ImageWare Systems, Inc. (OTCQB: IWSY) is a leading developer
of mobile and cloud-based identity management solutions – including biometric,
secure credential and law enforcement technologies. The company’s fully-scalable
biometric product line delivers multi-modal identity management capabilities
for user authentication both on premises and in the cloud. Through its
GoCloudID® and GoMobile Interactive® offerings, ImageWare provides customers in
a collection of markets an innovative approach to easily adding a secure layer
of biometric authentication to a variety of platforms and services.
In recent months, ImageWare has targeted large IT service
providers in order to maximize its market presence moving forward. Through this
strategy, the company has formed significant relationships with a collection of
major industry players and promising startups – including Fujitsu, TransUnion,
CA Technologies, IBM, Deutsche Telekom, Agility and Extenua. While these
partners remained in the testing and implementation phase of adopting
ImageWare’s identity management solutions throughout the first quarter of 2015,
the company’s management team is optimistic about the opportunities these
relationships could present in the future.
“While we certainly expected some of these agreements to be
producing revenues today, it is important to note that we are dealing with
large organizations that are thoughtful and methodical about the rollout of our
transformational software,” Jim Miller, chairman and chief executive officer of
ImageWare, stated in a news release. “As such, we remain undeterred by the pace
of the rollout and steadfast in our goal to transform ImageWare in to a
commercial-based provider of biometrics-as-a-service – a transition we expect
to drive significant shareholder value.”
In addition to this progress, ImageWare completed its first
SaaS installation and initiated revenue generation on a per transaction basis
with its GoCloudID product in the first quarter. GoCloudID differentiates
itself from the competition as the only hosted biometric identity management
solution on the market that allows for easy adoption with no start-up costs.
The system, which was deployed for the Baja California driver’s license
program, is expected to provide fingerprint and facial recognition biometrics
for more than 80,000 current users as well as support the production of
additional users at a rate of nearly 20,000 per month.
For prospective investors, the company’s recent actions
could set the stage for sustainable returns in the months to come. Look for
ImageWare to leverage its existing industry partnerships in order to promote
improved financial results in the future.
For more information, visit www.iwsinc.com
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