The Prism Project Prominently Features Aware in New Biometric Digital Identity Financial Services Report

The First Report of its Kind Serves as a Holistic Analysis of the Financial Services Industry Framed Around Common Pain Points and the Biometrics Solutions That Can Solve Them

BURLINGTON, MASS. – June 24, 2024 – Global financial services firms seeking digital transformation are encountering a multitude of challenges, from new AI-powered fraud threats to regulatory hurdles. At the core of each of these challenges is a need for solutions that improve fraud detection and regulatory compliance, in addition to delivering exceptional customer experience.

Thankfully, biometric technologies can address these needs. To this end, The Prism Project has released its first vertical market-focused publication, the 2024 Biometric Digital Identity Financial Services Prism report, which aims to inform, educate and motivate financial services influencers and decision-makers to tackle digital transformation challenges through biometric authentication solutions. Aware, Inc., a global leader in biometric identity authentication solutions, was prominently featured in the report as one of the most viable and trustworthy biometric vendors for financial service organizations.

“Aware is catalyzing innovation for financial services companies that put human beings first,” says Maxine Most, CEO and founder of The Prism Project and Acuity Market Intelligence, “By investing in biometric authentication solutions, financial services stakeholders realize measurable benefits – from significantly reducing fraud rates and achieving seamless compliance, to attaining greater customer satisfaction that drives increased conversions and revenues.”

“As digital transformation pushes both global markets and consumers towards a cashless society, currency becomes a function of our identities, as opposed to the actual coins and bills in our pockets. This poses significant authentication challenges,” says Craig Herman, Chief Revenue Officer, Aware. “We’re very proud to be prominently recognized in this report as a vendor demonstrating maturity as well as an unwavering commitment to security, accuracy, compliance and innovation.”

The Prism Project’s Financial Services Prism Report includes a case study on a leading Aware customer – a large Brazilian bank that worked with Aware to defend against increasingly prevalent presentation and injection attacks during account creation, helping to reduce fraud by 86 percent in the first six months of implementation.

About Aware
Aware is a global biometric platform company that uses data science, machine learning, and artificial intelligence to tackle everyday business and identity challenges through biometrics. For over 30 years we’ve been a trusted name in the field. Aware’s offerings address the growing challenges that government and commercial enterprises face in knowing, authenticating and securing individuals through frictionless and highly secure user experiences. Our algorithms are based on diverse operational data sets from around the world, and we prioritize making biometric technology in an ethical and responsible manner. Aware is a publicly held company (NASDAQ: AWRE) based in Burlington, Massachusetts. To learn more, visit our website or follow us on LinkedIn and X.

Safe Harbor Warning
Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as our expectations regarding our new product. Aware wishes to caution you that there are factors that could cause actual results to differ materially from the results indicated by such statements, including the risks that i) a significant commercial market for biometrics technology may not develop, and if it does, we may not be successful in that market; ii) the biometrics market may not experience significant growth or our products may not achieve broad acceptance; iii) we face intense competition from other biometrics solution providers; iv) our business is subject to rapid technological change; v) our software products may have errors, defects or bugs which could harm our business; vi) our business may be adversely affected by our use of open source software; vii) we rely on third party software to develop and provide our solutions and significant defects in third party software could harm our business; viii) part of our future business is dependent on market demand for, and acceptance of, the cloud-based model for the use of software: ix) our operational systems and networks and products may be subject to an increasing risk of continually evolving cybersecurity or other technological risks which could result in the disclosure of company or customer confidential information, damage to our reputation, additional costs, regulatory penalties and financial losses. We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our annual report on Form 10-K for the fiscal year ended December 31, 2023 and other reports and filings made with the Securities and Exchange Commission.

CONTACT

Delaney Gembis
Aware, Inc.
781-687-0393
marketing@aware.com