Redrock Biometrics welcomed by Wells Fargo accelerator
24 October 2017 14:27 GMT

Palm identification technology firm Redrock Biometrics has joined a Wells Fargo accelerator programme.

Redrock has also joined the Wells Fargo Startup Accelerator program to speed development of its advanced palm-based solution targeted to a wide range of industries including payments, banking, and e-commerce. Redrock Biometrics will work closely with Wells Fargo business and technology leaders through the program, exploring use cases and experimenting with the PalmID biometric solution, an alternative to passwords and PINs.

“The Wells Fargo Startup Accelerator is always on the lookout for companies that can help advance convenience and security for our customers alongside a beautiful user experience,” said Bipin Sahni, head of Innovation Research & Development for the Wells Fargo Innovation Group. “We see numerous applications for PalmID biometric authentication in payments, banking, and other financial institutions. We are excited to collaborate with Redrock Biometrics on new ways to keep critical information safe and secure.”

After a user waves their hand over the device, PalmID converts a palm image into a unique signature and authenticates the user in 10-100 milliseconds depending on CPU speed. The Palm ID Capture Module uses sophisticated machine vision techniques to detect palm in a video stream and pass its descriptor for enrollment or verification. The PalmID Matching Module can run server side or locally and matches the verification request against the enrollment template, using proprietary algorithms extensively tested against tens of thousands of palms.

“Palm-based biometrics are an ideal authentication solution for the payments, banking and e-commerce markets due to ease of deployment by POS providers, consumer electronics and ATM manufacturers, as well as ease of use by consumers,” said Hua Yang, Cofounder and CEO of Redrock Biometrics. “The portability feature designed into PalmID is likely to increase consumer acceptance of biometrics as an authentication solution.”