Viisage (NASDAQ:VISG)
Historical Stock Chart
From Jun 2019 to Jun 2024
Viisage (Nasdaq: VISG), a leading provider of advanced
technology identity solutions, today unveiled ID-Guard(R), an image
scanner that automatically authenticates identity documents such as
drivers' licenses and ID cards. The innovative ID-Guard(R) product
takes seconds to determine the authenticity of an identity document
and helps reduce identity fraud in the banking, law enforcement and
driver's license markets. Its small size and low total cost of
ownership also make it ideal for service-counter and in-vehicle mobile
environments.
"Viisage is the only company offering a cost-effective document
authenticator and this new solution further extends our lead in the
identity solutions market," commented Bernard Bailey, President and
CEO of Viisage. "In addition to saving time and money with ID Guard,
our customers also can quickly authenticate identity documents --
essential requirements in addressing growing concerns over possible
identity theft and fraud."
Identity fraud is one of the fastest growing crimes in the United
States, costing the business community over $1 billion in losses
according to a study by Gartner Group(1). With identity fraud cases on
the rise, ID-Guard is a timely solution for markets dealing with
criminals using fake drivers' licenses as tools to open fraudulent
accounts or gain access to privileged information. ID-Guard is not
only a new tool for investigators, but we also believe it will be a
powerful deterrent to identity fraud. In addition, the low cost of
ownership model ensures that distribution throughout an organization
is an affordable endeavor.
"Viisage's ID-Guard product is unmatched in its capabilities to
perform full document authentication and is a much needed tool for law
enforcement, motor vehicle agencies and financial institutions in
their fight against identity fraud," said Jim Ebzery, Senior Vice
President of Customer Solutions at Viisage. "This product will greatly
assist our ability to help all organizations successfully thwart the
identity theft concerns that they are faced with today."
The USA PATRIOT Act and the REAL ID Act both require organizations
to now focus on the people to whom they are issuing secure identity
credentials and whom they are authorizing to access privileges such as
new bank accounts. ID-Guard meets the critical needs of these
organizations to assess the authenticity of identity documents and
record their efforts to check these documents.
ID-Guard is the newest development within the broad range of
Viisage products that utilize a variety of end-to-end identity
solutions including biometrics, secure credential issuance and
identity information software, based on the layered applications
approach to identity solutions. This solution builds on Viisage's
proven track record of success for document authentication product
lines that have an installed base of thousands of units that are
helping to secure border crossings around the world. ID Guard enables:
-- Automated data capture and authentication of CR80/ID1 size
documents through images, demographic information and
searching for hidden security features.
-- Detailed images - designed using several light sources - to
perform multiple security checks which have been predefined
for each ID document.
-- Use of an image scanner, focusing on widely used ID1/CR80
sized documents, to create a unit that is a fraction of the
size and weight of previous offerings.
-- Verification of the machine readable zone (MRZ) for ICAO ID1
size documents, by using the built-in bar-code and magnetic
stripe reading capability, with B900 ink presence confirmation
and user applications population with information captured
from the document.
ID-Guard also is available with optical character recognition
(OCR) functionality, enabling the capture and comparison of printed
text to machine readable information.
Viisage executives will be demonstrating the capabilities of ID
Guard at the BAI Retail Delivery Conference in Orlando, Florida on
November 15 - 18 and at the Cartes 2005 Exhibition and Conference from
November 15 - 17 in Paris, France.
(1) Study conducted by Harris Interactive and Gartner in 2003.
About Viisage
Viisage (NASDAQ: VISG) delivers advanced technology identity
solutions for governments, law enforcement agencies and businesses
concerned with enhancing security, reducing identity theft, and
protecting personal privacy. Viisage solutions include secure
credentials such as passports and drivers' licenses, biometric
technologies for uniquely linking individuals to those credentials,
and credential authentication technologies to ensure the documents are
valid before individuals are allowed to cross borders, gain access to
finances, or granted other privileges. With over 3,000 installations
worldwide, Viisage's identity solutions stand out as a result of the
Company's industry-leading technology and unique understanding of
customer needs. Viisage's product suite includes FaceTOOLS(R) SDK,
Viisage PROOF(TM), FaceEXPLORER(R), Viisage iA-thenticate(R),
BorderGuard(R), IdentityTOOLS(TM), IdentityEXPLORER(TM), FacePASS(TM)
and FaceFINDER(R).
This news release contains forward-looking statements that involve
risks and uncertainties. Forward-looking statements in this document
and those made from time to time by Viisage through its senior
management are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect the Company's current views with
respect to the future events or financial performance discussed in
this release, based on management's beliefs and assumptions and
information currently available. When used, the words "believe",
"anticipate", "estimate", "project", "should", "expect", "plan",
"assume" and similar expressions that do not relate solely to
historical matters identify forward-looking statements.
Forward-looking statements concerning future plans or results are
necessarily only estimates and actual results could differ materially
from expectations. Certain factors that could cause or contribute to
such differences include, among other things, the size and timing of
contract awards, performance on contracts, availability and cost of
key components, unanticipated results from audits of the financial
results of the Company and acquired companies, changing
interpretations of generally accepted accounting principles, outcomes
of government reviews, developments with respect to litigation to
which we are a party, potential fluctuations in quarterly results,
dependence on large contracts and a limited number of customers,
lengthy sales and implementation cycles, market acceptance of new or
enhanced products and services, proprietary technology and changing
competitive conditions, system performance, management of growth,
dependence on key personnel, ability to obtain project financing,
general economic and political conditions and other factors affecting
spending by customers, the unpredictable nature of working with
government agencies and other risks, uncertainties and factors
including those described from time to time in Viisage's filings with
the Securities and Exchange Commission, including without limitation,
Viisage's Form 10-K for the year ended December 31, 2004 and its
quarterly reports on Form 10-Q. Viisage expressly disclaims any
obligation to update any forward-looking statements.