HONG KONG - Biometrics are automated methods of recognising a person based on a physiological or behavioural characteristic such as fingerscanning, face-pattern, iris-scan, voice-pattern and hand geometry.
Based upon proprietary biometric technology and alliance with partners, AsiaWebCo will offer its clients e-commerce solutions using network services incorporating digital certification to validate entities and biometrics to authenticate presence of individuals.
AsiaWebCo uses capture encryption technology (of up to 4096 bits). The solution is designed to enable secure e-commerce applications and ensure the presence of the person whenever a financial transaction or retrieval of sensitive information takes place. Traditional methods of passwords and digital tokens do not offer such security.
Potential e-commerce applications for biometric secure solutions are enormous including on-line shopping, banking transactions, securities trading, insurance claims, personal aggregation, medical records, legal discovery and distance learning. There are also secure access applications such as mobile banking, Automated Teller Machines (ATMs), SMART cards, system networks and physical area access.
According to research company IDC, it is estimated that there will be over 140 million Internet users in Asia excluding Japan by 2004 with at least 51 million of these in Greater China. The Greater China market is expected to account for over 15% of the worldwide Internet e-Commerce traffic by 2003 and a US$150 million biometrics business growing at over 40% per annum according to a similer study by ING Baring research.
AsiaWebCo is a joint venture between Strategic Consultants (Hong Kong), a Hong Kong management and systems consulting house, and Rofin Australia Pty Limited, a private Australian company in applied biometric security and revenue generating solutions.
Rofin is a security and specialist lighting developer with installations in over 50 countries worldwide and are the developers of innovative technology for capture encryption and matching of biometric "signatures" over remote networks such as the Internet.