Tag: mobile security

October 29, 2013, Shelton, CT- NXT-ID, Inc, (NXTD: OTCQB) a biometrics company focused on the growing m-commerce market and its wholly owned subsidiary, 3D-ID, LLC, today announced an agreement with Indian/U.S.technology company, Voice of Big data (VOBD), to distribute its patented 3DFaceMatch™ biometric facial recognition identification systems in India.

3D FaceMatch™ will be added to Voice of Big data’s current Facial Signature product line as part of its security and intelligence division. The technology will be targeted to retail markets, law enforcement, airports, government agencies, public and private organizations, product development centers and offshore development centers. 

Voice of Big data reported to fytimes.com in August that it will be the first company in India to launch 3D facial recognition technology in India. 

It was recently chosen as one of the top 10 promising technology startups in India by Nasscom’s Emerge; (ET Times October 25th). The fast growing company has 65 employees comprising 20 data scientists and anticipates hiring 80 more by the end of the year. 

Mr. Gino Pereira, Chief Executive Officer of NXT-ID, Inc said, “Clearly, this is another milestone in our history as we continue to make solid progress as we implement our growth strategy. We are delighted to be partnering with VOBD in such an exciting developing market. India is at the forefront of the biometric revolution and with our combined expertise in 3D facial recognition and the ability to analyze large amounts of data very quickly I believe we can contribute substantially to biometric adoption here.”  

“Srinivas Kishan Anapu, CEO of VOBD, reiterated that the partnership with NXT-ID is a major strategic milestone for Voice of Big Data in the R&D space and for implementation of facial recognition solutions across industries globally. Additionally we see a huge value addition to our customers especially in India.” 

3D FaceMatch™ facial imaging solutions provide government, law enforcement and security agencies with fast, precise, automated and low-cost solutions for biometrically-accurate imaging of human faces in three dimensions. By acquiring the shape of a subject’s face, together with a perfectly registered image, FaceMatch technology enables dramatic performance enhancements in human identification systems ranging from manual photo ID verification to automated facial recognition.

The global facial recognition market is estimated to grow from $1.92 billion in 2013 to $6.5 billion in 2018 according to a report earlier this year from http://www.marketsandmarkets.com/. Analysts forecast the biometrics market in India to cross USD 2 Billion revenues by 2018. 

About Voice of Big data (VOBD)

Voice of Big data (VOBD) has its offices spread across US, UK, Australia and India. The company is incorporated with focus to provide sustainable BI solutions to clients. We have a highly dedicated team that constantly researches the trends in Bigdata, providing the most optimized solutions to the clients in BI space. At VOBD, Over 70% of Analytics is performed against Structured & Unstructured data. VOBD has invested in focused groups around tools & frameworks to provide client value-adds. This experience has helped VOBD build robust CoEs and reusable Frameworks for its customers. VOBD currently comprises of a Full time team of professionals from all domains and technologies related to Big data, BI and Analytics. VOBD has expertise across BFS, Insurance, Media, Manufacturing, Retail, Technology, Healthcare, Life Sciences and Utilities domains. http://voiceofbigdata.com 

About NXT- ID Inc. – Mobile Security for a Mobile World

NXT-ID, Inc.’s (OTCQB: NXTD) innovative MobileBio™ solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio™ suite of biometric solutions that secure consumers’ mobile platforms. NXT-ID’ wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification has 22 licensed patents in the field of 3D facial recognition http://www.nxt-id.com/, http://3d-id.net/

Forward-Looking Statements for NXT-ID

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission. 

Contact: 

Corporate info: [email protected] 

Investor Inquiries:

Kirin Smith

ProActive Capital Group

Direct: 646 863 6519

[email protected]

This is exacerbated by the number of devices that remain unprotected.

Mobile security solutions providers are already struggling with the practices of many clients through their BYOD initiatives – which are becoming increasingly common – but a new report has indicated that the problem is growing on a large number of levels.

The report indicates that cybersecurity threats have taken off over the last two years, particularly in smartphones.

The study was conducted by Juniper Research Ltd., a firm based in the United Kingdom, and indicated that mobile security threats have taken off over the last couple of years and despite that fact, the majority of smartphones still remain nearly entirely unprotected.

This is because mobile security threats are starting to change in their primary focus.

Although cyber criminals had initially transferred their focus from PCs to mobile devices for consumers, they are starting to concentrate on the enterprise space to a growing degree. By the end of this year, it is expected that there will be one million types of mobile malware that will be thriving by the end of 2013.

In fact, the analysts at Juniper determined that over 80 percent of all consumer and enterprise owned smartphones will continue to be unprotected throughout the remainder of the year, despite the large exposure and considerable threat of malware. The slow mobile security protection is the result of low awareness among device users to the vulnerabilities, and the overall perception that these devices are too expensive to protect.

These findings were published in Juniper’s “Mobile Security: BYOD, mCommerce, Consumer &Enterprise 2013-2018” report. Within that report, Juniper divided the online landscape for mobile security threats down into various different segments. Approximately 70 percent of the threats were found to be able to steal a smartphone owner’s personal data that is stored on the device. An additional 20 percent of these types of malware are forms of adware and spyware that need the permission of the user for installation and that then proceed to collect device location, personal data, or usage behavior.

Though the mobile security situation may look bad, the report did indicate that there is a growth in awareness and that this is beginning to have an impact on the attitudes and behaviors of device users in securing their gadgets.