BURLINGTON, Mass., October 24, 2022 — Aware, Inc. (NASDAQ: AWRE), a leading authentication company applying proven and trusted adaptive authentication to solve everyday business challenges with biometrics, disrupted the industry today with the introduction of its newest product, AwareID™. Gone are the days when advanced security was only available to those organizations with large budgets, deep IT teams and time to spare. AwareID combines the historically-disjointed best practices behind identity verification, multi-factor authentication and multi-modal biometrics into a single, low-code platform that is pre-configured for the most common use cases and is functional right from the start.
“We know that the increased frequency of data breaches, the rising rate of fraud and the introduction of government regulations and mandates have driven organizations from all industries to look for security solutions that promise protection,” commented Bob Eckel, president and CEO of Aware. “The problem is, what they find when they go looking is a plethora of products from a variety of providers that all need to be technically integrated and multi-sourced to make a complete offering. This sourcing and integration takes time, money and advanced technical knowledge—thus preventing any organizations that don’t have those resources available from deploying the level of security they need. With AwareID, we’re making the latest in next-generation authentication available to the masses.”
Pre-configured for the most common use cases, and positioned at an affordable price point, AwareID tackles onboarding and authentication to help organizations of all sizes improve their security posture while enhancing the end-user experience. Non-IT professionals can protect their organization through AwareID’s intuitive, easy-to-use, low-code administrative platform. For those organizations that do have deep technical expertise, IT teams can override the pre-configuration and scale the realm of possibilities to fine tune for unique requirements—or to simply develop internal workflows and/or trade secrets to drive differentiation for their organization and offerings.
“From a consumer perspective we know that users are fed up with passwords, as reiterated in our recent survey. From a customer perspective, we know organizations are struggling to piece together disparate technology in an attempt to find the right balance of friction and security,” says Craig Herman, chief revenue officer at Aware. “AwareID takes the burden off the customer’s organization and provides a functional offering that can be deployed in a matter of minutes versus months, and at a fraction of the cost of existing piecemeal solutions.”
Aware is leveraging its 25+ years of proven implementation expertise and converging machine learning, artificial intelligence and biometrics to provide a next-generation authentication platform that aligns with the needs of organizations and protects identities against newly-emerging attack vectors. AwareID’s scalability and open environment allow it to continue to adapt to enterprise needs and the changing security landscape, giving Aware’s customers an edge they can’t find anywhere else.
To learn more about how AwareID can help your organization—and how you can bring trusted technology deployed within more than 20 countries, more than 80 government agencies (including within 12 of the 15 major Departments in the U.S. Federal Government), and more than 100 commercial leaders to your company—visit awareid.com.
Aware is a global authentication company that validates and secures identities using proven and trusted adaptive biometrics. Aware’s software and software-as-a-service offerings address the growing challenges that government and commercial enterprises face in knowing, authenticating and securing individuals through frictionless and highly secure user experiences. Aware’s algorithms are based on the most diverse data sets in the world and can be tailored to the unique security and requirements of each customer. The company empowers users to have control over identities through clear, intuitive opt-in/opt-out features, helping them feel secure and improving their lives. Aware is a publicly held company (Nasdaq: AWRE) based in Burlington, Massachusetts. To learn more, visit https://www.aware.com or follow Aware on Twitter @AwareBiometrics.
Safe Harbor Warning
Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as the projected benefits and success of AwareID, and the growth of the biometrics markets. Aware wishes to caution you that there are factors that could cause actual results to differ materially from the results indicated by such statements.
Risk factors related to our business include, but are not limited to: i) our operating results may fluctuate significantly and are difficult to predict; ii) we derive a significant portion of our revenue from government customers, and our business may be adversely affected by changes in the contracting or fiscal policies of those governmental entities; iii) a significant commercial market for biometrics technology may not develop, and if it does, we may not be successful in that market; iv) we derive a significant portion of our revenue from third party channel partners; v) the biometrics market may not experience significant growth or our products, including AwareID, may not achieve broad acceptance; vi) we face intense competition from other biometrics solution providers; vii) our business is subject to rapid technological change; viii) our software products may have errors, defects or bugs which could harm our business; ix) our business may be adversely affected by our use of open source software; x) we rely on third party software to develop and provide our solutions and significant defects in third party software could harm our business; xi) part of our future business is dependent on market demand for, and acceptance of, the cloud-based model for the use of software: xii) our operational systems and networks and products may be subject to an increasing risk of continually evolving cybersecurity or other technological risks which could result in the disclosure of company or customer confidential information, damage to our reputation, additional costs, regulatory penalties and financial losses; xiii) our intellectual property is subject to limited protection; xiv) we may be sued by third parties for alleged infringement of their proprietary rights; xv) we must attract and retain key personnel; xvii) our business may be affected by government regulations and adverse economic conditions; xviii) we may make acquisitions that could adversely affect our results, xix) we may have additional tax liabilities; and xx) we believe the effects caused by the COVID-19 pandemic may have an adverse impact on our revenue over the next several quarters.
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, 2021 and other reports and filings made with the Securities and Exchange Commission.