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Choicepoint uses biokey Original Source Link: (May no longer be active)
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Computers/Electronics News
ChoicePoint(R) Selects BIO-key to Help the Fight Against Fraud and Identity Theft
< back
New Integrated Technologies to Be Used at Check Cashing and Retail
Environments
MINNEAPOLIS, Nov. 18 /PRNewswire-FirstCall/ -- BIO-key International,
(OTC Bulletin Board: BKYI), a leader in finger-based biometric identification,
announced today that ChoicePoint (NYSE: CPS), the leading provider of
identification and credential verification services, has selected BIO-key's
technology to integrate into an identity verification solution the company
will be piloting with several of its check cashing and retail customers.
Under the agreement, ChoicePoint will incorporate BIO-key's WEB-key(TM)
user identification solution in an application that helps retailers reduce the
impact of identity fraud by proving that individuals are who they claim to be.
"The Federal Trade Commission reported identity theft cost individuals and
businesses $53 billion in losses last year, the joint effort between
ChoicePoint and BIO-key will combat this costly problem. ChoicePoint is a
trusted name in the security and identification industry and BIO-key is
pleased to be a valued partner, providing an important part of their
comprehensive solution," said Mike DePasquale, CEO of BIO-key.
"ChoicePoint customers require solutions that are convenient, fast and
reliable. BIO-key's technology meets those criteria. We look forward to
working with BIO-key to offer these solutions which will help prevent one of
the most personal and complex criminal acts in our society, identity theft,"
said Dave Pugmire, ChoicePoint vice president. "These solutions will initially
be used in check cashing applications in retail locations to accurately
identify consumers."
Tom Colatosti, Chairman of BIO-key said, "Finger-based biometrics is the
most practical, scalable and cost effective solution available to deter the
multi-billion dollar identity theft crisis in America. There are many
biometric technologies on the market today and each have unique roles to play
in providing security and identity management solutions, however finger
biometric is exceptionally well suited for applications in the high volume and
rugged retail environments where identity theft breeds. Finger-based
biometrics is a an elegant and effective solution for reducing the billions of
dollars in losses caused by identity theft fraud in the insurance, retail and
finance industries."
About ChoicePoint
ChoicePoint Inc. (NYSE: CPS) is the leading provider of identification and
credential verification services for making smarter decisions in a world
challenged by increased risks. Serving the needs of business, government, non-
profit organizations and individuals, ChoicePoint works to create a safer and
more secure society through the responsible use of information while ensuring
the protection of personal privacy. For more information, visit the company's
Web site at http://www.choicepoint.com .
About BIO-key
BIO-key develops and licenses advanced biometric finger identification
technologies that are cost effective, scalable and easy to deploy. BIO-key
products provide "True User Identification(TM)" that prevents data and
identity theft while preventing false aliases. BIO-key pioneered the only
finger identification algorithm that has been certified by the ICSA. It
offers cost effective, high-performance one-to-many finger and one-to-one
identification solutions providing security and positive identification for
government and enterprise applications. ( http://www.bio-key.com )
BIO-key Safe Harbor Statement
This news release contains forward-looking statements that are subject to
certain risks and uncertainties that may cause actual results to differ
materially from those projected on the basis of such forward-looking
statements. The words "estimate," "project," "intends," "expects," "believes"
and similar expressions are intended to identify forward-looking statements.
Such forward-looking statements are made based on management's beliefs, as
well as assumptions made by, and information currently available to,
management pursuant to the "safe-harbor" provisions of the Private Securities
Litigation Reform Act of 1995. For a more complete description of these and
other risk factors that may affect the future performance of BIO-key
International, see "Risk Factors" in the Company's Annual Report on Form 10-
KSB and its other filings with the Securities and Exchange Commission. Readers
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date made and the Company undertakes no obligation
to disclose any revision to these forward-looking statements to reflect events
or circumstances after the date made or to reflect the occurrence of
unanticipated events.
Contact: Albert Maruggi
612-325-8126
amaruggi@providentpartners.net
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