TEL AVIV, Israel -- Innovya R&D announced a new Traceless Biometrics Solution that clearly authenticates user's identity without requiring storage of any unique or personal biometric information. Furthermore, the solution does not need to link, write, or bind any unique information to an external device, smart card, network or database of any kind. The solution's method is able to positively recognize and identify the biometric identity in real time without violating the user's privacy and without leaving any intrinsic traces in the system. Innovya is creating an amorphous biometric identifier agent, or "BIdToken" (Non-unique Biometric Identifier Token), which is designed to be biometrically traceless, so that an exact image or copy of the biometric information is not maintained. This is equivalent to the allocation of ATM/credit/debit secret four-digit PIN code which is associated with the biometrics characteristics of the user. When using this method, the individual has to be present during the identification process since the (secret) token identifier itself has no true value except in a particular biometric identification transaction. The company founded in 2006 by Michael (Micha) Shafir and Ronen Blecher, both experienced entrepreneurs from the network security devices industry. The company owns a revolutionary patented platform and method for Traceless Biometrics Identification.
Reliable user authentication is becoming an increasingly important task. The consequences of an insecure authentication system can be catastrophic, and may include loss of confidential information, and compromised data integrity.
Gartner, the leading provider of research and analysis on the global information technology industry estimates that in the 12 months ending in May 2005, ATM/debit card fraud in the U.S. generated losses of $2.75 billion, with an average loss of more than $900. Gartner also claims that "Most of the losses were covered by banks and other financial institutions that issued the specific ATM/debit cards exploited by thieves"