Edentify owns the intellectual property rights to a strategic approach for the detection and prevention of identity fraud consisting of information-based data analysis and monitoring. Although we had anticipated that it would be rolled-out sooner, we are still in the process of developing a second, biometric approach.
We carry out our data analysis and monitoring through our wholly-owned subsidiary, Edentify, Inc. (Delaware), using a patented information-based technology that analyzes identity data information for individuals in large databases. The product of this analysis is a risk score (Identity Integrity Index (TM)), which provides a confidence level associated with an identity verification and is also capable of detecting and scoring incidences of identity manipulation and potential fraud. The forerunner of this technology is currently used in screening identities used for new checking account applications at nearly every major bank in the U.S. Edentify will continue to market this technology to other areas of the financial services industry, as well as to large healthcare organizations and local, state and federal governments.
The biometric technology, presently still under development, would be marketed through, our wholly-owned subsidiary, InMotion Biometrics, Inc. ("IMB"). The present plans for this technology are based on a set of algorithms, combining face and voice recognition techniques for authenticating the identity of an individual. Our agreement for the development of the IMB technology is with face2face, Inc., a leading character animation company that was spun off from Lucent Technologies, Inc. in 2000. The core capability of this technology is its facial analysis system that contains highly evolved algorithms for obtaining the inner lip contour, which can accurately measure for optimal visual speech-recognition performance. Additionally, the IMB system is designed as a multi-modal platform capable of combining the reading of two or more biometric technologies simultaneously
Edentify currently markets its data analysis technology directly and through channel partners. The biometric technology is currently under development and, upon completion will be marketed through strategic partners as OEMs or value-added resellers. Future plans include the development of an integrated product that combines our information-based ID manipulation detection capability with IMB's face recognition technology, thereby enabling a defensively-robust enrollment and subsequent identity protection system.
