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ImageWare


In The Boardroom With...

Mr. Jim Miller
Chairman and CEO
ImageWare Systems, Inc.

www.iwsinc.com 

QTCQB: IWSY

Updated November 10, 2017

ImageWare Systems Awarded Canadian Patents for its Multi-Modal Biometric Platform & Analysis

ImageWare Systems, Inc. (ImageWare or IWS) (OTCQB: IWSY), a leader in mobile and cloud-based, multi-modal biometric identity management solutions, has been awarded patent numbers 2870254 & 2600388 by the Canadian Intellectual Property Office for the IWS Biometric Engine. This patent brings the total issued patents for IWS to 22 and conveys intellectual property rights to the creation of a multi-modal, agnostic biometric authentication system to ImageWare in the country of Canada. ImageWare's IWS Biometric Engine is the first and only truly multi-modal, device and algorithm independent, biometric software platform. It is a highly scalable technology that enables government, commercial enterprises, and consumers to biometrically search and match populations for identity authentication. The platform is a hardware and algorithm-agnostic system that allows users to achieve identity authentication through an array of enrolled biometric types, including: finger, face, iris, palm, signature, DNA, voice, 3D face, and retina. ImageWare's history and passion for innovation in the biometric field continues and we are gratified by the issuance of such a foundational patent in the country of Canada on our groundbreaking IWS Biometric Engines said Jim Miller, Chairman and CEO of ImageWare. Now, more than ever, it is critical to protect our data and our identities by using biometric authentication that verifies our identity as legitimate and that is precisely what our patented products supply. About ImageWare Systems, Inc. ImageWare Systems is a leading developer of mobile and cloud-based identity management solutions, providing biometric secure credential and law enforcement technologies. Scalable for worldwide deployment, ImageWare's patented biometric product line includes a highly scalable, multi-modal biometric engine capable of working with a wide array of sensors, modalities, and algorithms. ImageWare's identity management products are used for secure credentials, national IDs, passports, driver's licenses, and smart cards as well.

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Updated October 2, 2017

ImageWare Receives IBM PartnerWorld's "Ready Intelligence" Validation

Certified integration with IWS GoVerifyID® offers ISAM users multi-modal biometric authentication with mobile devices

ImageWare Systems, Inc. (ImageWare or IWS) (OTCQB: IWSY), a leader in mobile and cloud-based, multi-modal biometric identity management solutions, today announced it has received IBM PartnerWorld’s Ready for IBM Security Intelligence designation for its GoVerifyID Enterprise Suite. As a result, ImageWare’s GoVerifyID has been validated to integrate with IBM Security products to help better protect its customers around the world.

ImageWare's GoVerifyID provides multi-modal biometric user authentication using mobile devices and Software-as-a-Service (SaaS). GoVerifyID, combined with IBM’s flagship access management platform, IBM Security Access Manager (ISAM), allows users to swipe a fingerprint, take a selfie, or provide a voice sample on their mobile device to authenticate for any ISAM managed resource. GoVerifyID Enterprise Suite is an end-to-end, enterprise-ready, security solution that can be seamlessly integrated into your existing ISAM authentication processes, providing a secure and user-friendly experience, while allowing you to adopt new biometric modalities as they are available.

Flexible mobile biometric authentication, combined with secure web application access provides the ultimate in security and friendly user experience,” said IWS Chairman and CEO Jim Miller. “ISAM users can now enjoy seamless integration and instantly access all of their apps by simply taking a selfie, using a fingerprint or speaking a passphrase. And, of course, as with all IWS mobile authentication products, users can always avail themselves of the latest advancements in biometric technology if they choose to do so as our GoVerifyID products are supported by our patented IWS Biometric Engine that allows for unparalleled flexibility, scale, and security.”

The Ready for IBM Security Intelligence alliance is designed to promote technology collaboration and integration to expand and enhance security coverage, collapse silos of information, and increase situational awareness and insights. With the PartnerWorld program and Ready for Security Intelligence validation, IBM supports collaboration with its Business Partners to enable the integration of product capabilities and improved security capabilities for mutual customers.

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Updated September 25, 2017

ImageWare Systems Secures $11 Million in New Funding

ImageWare Systems, Inc. (ImageWare or IWS) (OTCQB: IWSY), a leader in mobile and cloud-based, multi-modal biometric identity management solutions, has completed an $11 million registered direct offering to certain accredited investors.

ImageWare sold an aggregate of 11,000 shares of new Series A Preferred Stock at $1,000 per share for gross proceeds of $11 million. After accounting for previously advanced cash that was converted into the transaction, new proceeds are expected to be approximately $10.1 million. ImageWare intends to use the proceeds for general corporate purposes such as marketing, sales and working capital.

The offering was conducted pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-214124) previously filed with and subsequently declared effective by the Securities and Exchange Commission (the “SEC”) on April 28, 2017. A prospectus supplement and accompanying base prospectus relating to the offering was filed with the SEC and is available on the SEC’s website.

Concurrently with the registered direct offering, ImageWare expects to consolidate $20.6 million worth of shares of existing Series E, Series F and Series G preferred stock into the new class of Series A Preferred Stock. The only preferred shares expected to remain outstanding after the exchange is approximately 239,000 shares of Series B Preferred Stock.

“This financing recognizes the strong progress we’ve made to commercialize our leading identity management solutions for the enterprise and consumer markets, as well as our significant prospects for growth in those areas,” said Jim Miller, ImageWare’s chairman and CEO. “Not only are we now in a better position to capitalize on the growing industry demand for biometric solutions, but we believe our bolstered balance sheet and operational momentum will enable us to further expand our partner agreements for our mobile and cloud-based products.”

Concurrent with the financing, ImageWare has appointed Robert Clutterbuck and Charlie Frischer to its board of directors.

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SecuritySolutionsWatch.com:  Thank you for joining us again today Jim at this momentous time in the history of ImageWare. Congratulations on all the positive developments during the past few months. Before discussing all the new deals and the fast-growing mainstream acceptance of biometrics, perhaps we can begin with an overview of the ImageWare Product Portfolio as it stands now.

Jim Miller: Always a pleasure. With data breaches happening every day and causing damage to your brand, tangible economic loss, and termination of employment for executive management charged with oversight, enhancing security without compromising user experience is a priority for today’s organizations. Multi-modal biometrics for user authentication handles this requirement and that’s what ImageWare does. We have invested substantial time and effort into making the implementation of biometric security simple, quick, and cost-efficient.

Being a pioneer in biometrics, with several decades of experience, ImageWare has built its brand through deployments in law enforcement applications, later migrating to secure biometric credentialing, and more recently, to authentication in the cloud using smart mobile devices. At the heart of all of our product offerings is the patented IWS Biometric Engine® (BE), which provides an ultra-scalable, real-time, multi-modal biometric enrollment and matching database specifically built for biometrics. The BE supports a dozen different biometric modalities today and adding new modalities is simple and straight forward. As we say, “we secure your future,” meaning that we not only satisfy your current security requirements, but we also secure your investment as new biometric technology becomes available.  We treat biometrics as “plug and play,” so you can take advantage of new advancements with no loss to your current investment.

We also provide CloudID®, which offers unsurpassed capabilities for rapidly developing and deploying highly modular, cost effective, customized biometric identity management and advanced credentialing solutions for ID cards in the private or public sector. CloudID also provides:

  • Multi-modal biometric enrollment and management
  • Identity proofing and vetting
  • Management of biometric devices

More recently, ImageWare has developed the GoVerifyID® solution. GoVerifyID is a multi-modal mobile/cloud biometric user authentication application. It is an end-to-end solution, including identity proofing, cloud provisioning, on-device enrollment, real-time authentication, seamless integration into existing security workflows, and a turnkey self-service portal. GoVerifyID is the industry's first multi-modal biometric user authentication solution that allows customers to strengthen the security of their passwords or two-factor authentication using biometrics that are offered as a mobile/cloud SaaS offering. Instead of typing a password, end users can speak passphrases, swipe their fingerprints, or even take "selfies" to gain access.  GoVerifyID, along with its standard interfaces and SDKs, can be easily integrated with nearly any security system.

Most recently, ImageWare has released GoVerifyID Enterprise Suite, which brings the GoVerifyID technology to the Enterprise. GoVerifyID Enterprise Suite is a Windows Server certified solution that is seamlessly integrated with the Microsoft Ecosystem. It installs in less than 30 minutes, requires no coding or integration, supports both local biometric readers and mobile devices, works on all versions of Windows, and protects the complete range of enterprise stakeholders. All licensed on a pay-as-you-go, scale-as-you-need basis.  Multi-modal biometric authentication for the enterprise has NEVER been easier!

SecuritySolutionsWatch.com:  One will read at your Homepage that “ImageWare Systems stands out as a leader in cutting-edge, identity management solutions driven by biometric technology. We deliver next-gen biometrics as an interactive and scalable cloud-based solution. We combine cloud and mobile technology to offer multi-factor authentication for smartphone, tablet, and desktop users. Our solutions provide multi-modal biometric authentication, using voice, fingerprint, facial recognition, our own patented software algorithms, and partnerships with leading multi-factor identification proofing providers. What are your key target markets?

Jim Miller: Any use case that requires authentication of an identity, and we do mean ANY use case, would benefit from the security and ease of use provided by the Imageware products. Moving away from passwords or augmenting them with additional security and providing a stronger form of identity authentication is one of the greatest challenges all organizations are facing today. With our extensive partnerships, we aim to change the nature of authentication across industries, environments, and use cases with multi-modal biometrics built on top of scalable, interoperable, plug-n-play technology. These solutions are widely applicable to any industry. From our experience, the following industries are most active in pursuing biometric authentication solutions today:  Banking, Financial Services, Retail, Healthcare, Government, and Education.

SecuritySolutionsWatch.com:  We read with great interest in CIO Review, that “Biometrics is on its way to make identity theft and fraud a thing of the past. The pace of innovation around biometric technology is generating new creative use cases across the enterprise realm today. From commercial mobile user authentication using voice, face, fingerprint, to enterprise employee identification with multi-modal biometrics, chances are high that you will find the work of ImageWare Systems (OTCQB:IWSY) behind it.” Care to elaborate?

Jim Miller: ImageWare is a true pioneer and innovator in the biometric field; going back to our original entry into the market where we created digital booking systems for law enforcement agencies coupled with facial recognition to search those databases. Our first customer for those products, the State of Arizona, is still with us.

We have a wide portfolio of foundational intellectual property, which is testimony to our pioneer status in the industry as well as our reputation as an innovator in the biometric identity management space.

Our work using biometrics for physical and logical access control can be seen in Identity management systems employed by such flagship customers as the Canadian TSA, US Veterans Administration, Los Angeles World Airports, and most recently, with our contract award for five Alaskan airports.


We recently pioneered cloud-based delivery of biometrically-enabled driver’s licenses via our CloudID product in Baja California, Mexico and biometrically authenticated access cards for identity and access management systems with FEMSA. FEMSA is the largest independent Coca Cola bottler in the world and the second largest shareholder of Heineken. They operate retail chain stores and are supply chain operations specialists with over 375 million customers across Mexico and Latin America.

Most recently, as we have discussed, our GoVerifyID products for commercial, consumer, and enterprise customers have revolutionized cloud-based biometric authentication for mobile and smart devices as well as the desktop.

Biometrics can definitely mitigate the ever-increasing number of data breaches that are most often based on compromised passwords.  Imagine a hacker trying to access your corporate network that is secured with multi-factor biometric authentication.  The hacker can try all the passwords they want, but without the biometrics they won’t be able to access anything.  And they won’t even know why their access attempt failed.  They will soon move on to trying to gain access to some other company that is not secured with biometrics. 

This same type of security increase applies to all industries from healthcare where biometrics are already in place to some extent, to banking where biometrics are just starting to be deployed, to consumer applications where the possibilities are endless.  Many consumers have already indicated that they prefer using a quick and easy biometric, like their fingerprint or a selfie, rather than having to type a complex password.  And the real win is that by using biometrics you provide significantly stronger identity verification and nearly eliminate the use of compromised passwords for data breaches. 

SecuritySolutionsWatch.com:  Kudos also Jim on the 2017 Frost & Sullivan New Product Innovation Award and their assertion that  “The frequency at which data breaches are happening globally is alarming, making security a major challenge to 'C' level personnel across industries. Traditional authentication methods such as passwords, PINs, and tokens are increasingly becoming obsolete. ImageWare's innovative GoVerifyID Enterprise Suite solves these problems by providing multi-modal biometric user authentication as an end-to-end, turnkey solution.” Care to add any additional color to this?

Jim Miller: It’s always gratifying to have independent industry experts recognize ImageWare and find that our GoVerifyID enterprise product is the most innovative while embodying the best practices for identity authentication.  By the way, our patented Biometric Engine, which powers all our solutions, was recognized as the best product in our industry a few years ago as well.


PINs and Passwords are the problem. They are unsecure, expensive, and hard to use and, according to a recent study by Verizon, at the root of over 80 percent of all data breaches occurring last year.  On top of that, password resets end up costing, according to an Infotech study, over 100 dollars per user per year!  WHY WOULD ANYONE CONTINUE THEIR USE?!

Our task was to create a secure, scalable, and flexible product for the Microsoft ecosystem that installs in less than 30 minutes and provides real time, turnkey, multi-factor authentication using your choice of biometrics with no coding, no integration, and no upfront cost as it’s sold as a service.  It scales to support hundreds of million of identities and transactions a day and can be used by small or large multi-national companies to protect their network assets and that’s what GoVerifyID Enterprise Suite is all about. We secure corporate assets and protect people’s identities by using multi-factor biometrics, not just using devices or secrets.  We also perform biometric matching using our patented anonymous methods so your personal information remains safe. This is as secure and easy to use as it gets.

SecuritySolutionsWatch.com:  Can we chat for a moment about today’s IOT, BYOD and mobility culture? What is your perspective Jim regarding the unique value proposition that ImageWare delivers to your customers in this environment.

Jim Miller: We live in a world where our digital identity is the bridge to our human identity. The "Internet of things" (IoT) is essentially a giant network of connected "things” - a concept that not only has the potential to impact how we work, but also how we live. We can connect our devices to all manner of devices and people. This raises a huge concern with privacy and security in this connected world. Anything connected to your network is now a potential breach point; it makes data security more complex, information governance more complicated, and your corporate and customer data more vulnerable. The same concerns apply to BYOD, or as we sometimes say at ImageWare, “Bring Your Own Disaster” – every connection point is a data breach potential and a majority of folks use their personal devices at work where they access valuable corporate information.. We have seen too many times how this story ends - a single tablet or smartphone contains credentials to the entire corporate network and this “simple thing” can end up costing employers millions.

There is only one thing that can verify the actual person – biometrics, one’s unique human characteristics. A person who knows the password or has the token is not verifying the actual person, because passwords can be discovered and tokens stolen. The user’s unique physical traits, that’s where ImageWare delivers value by allowing our users to replace or augment password or PIN security with easy to use biometrics.

Just like your readers, I can’t wait until I can stop using passwords for everything and just use my face, voice, eyes, or some other biometric - more secure and nothing to remember each time I log in!

SecuritySolutionsWatch.com:  Let’s drill down into the growing traction for ImageWare solutions and the partnerships in place. The blue-chip list of ImageWare partners that includes: Amazon, CA, Fujitsu, HPE, IBM, Microsoft, SAP, TransUnion and Verizon, just to name a few, is truly impressive. Want to give us a quick thumbnail of the status of some of your most significant partnerships?


Jim Miller: Our initial Fujitsu partnership uses our technology in many parts of their business.  They provide their Biometrics-as-a-Service SaaS offering in their cloud services by hosting our technology.  This enables Fujitsu to provide biometric authentication as part of many types of IT solutions, such as Banking, Retail, and Help Desk.  Well, as readers may have seen, we have recently signed agreements with Fujitsu’s Cyber Security group to resell our entire portfolio of GoVerifyID, CloudID, and Biometric Engine products across Europe, the Middle East, India and Africa. We expect to add new territories in the very near term. There’s no larger compliment to be paid than when a well-regarded global player, such as Fujitsu, wants to sell and market your products.

One of our newer technology alliances is with Aruba, an HP Enterprise company.   Aruba built our technology into their Aruba ClearPass network management suite of products.  This allows any of their customers to add multi-modal biometric authentication into their existing security mechanisms without needing to install any additional hardware or software.  We are finding the greatest traction with Aruba in the Higher Education and Healthcare industries.  Of course, we are also integrated to provide biometric authentication with CA Technologies Single Sign On product, and the SAP Cloud Platform, as well as with the Leidos product, ID HAYSTACK.

SecuritySolutionsWatch.com: Nice job to ImageWare’s staff for the collateral material that is available in your Resources section.  Want to give us an overview of the: Reports, Case Studies, White Papers and other content there?

Jim Miller: Thank you and it is of course a team effort.  We recently updated our website (www.iwsinc.com) with all refreshed content. The link you provided here contains descriptions of our product offerings, white papers, use cases, analysts’ reports, customer success stories, etc. It enables customers and prospects to easily find the information they seek and to gain a better understanding of what we do.

We also have a dedicated website for GoVerifyID, our revolutionary, award winning product: www.goverifyID.com.  This is a consolidated place where you can find all information about our award-winning mutil-modal biometric authentication SaaS solution. I would recommend visiting this site if you want to know more about the product.

Creating great content and making it available is only part of what we offer on our website. We encourage customers and prospects to frequently visit our site, connect with us via an online form, or our social media channels – LinkedIn, Facebook, and Twitter – so that we can maintain an open and transparent discussion with our customers.

SecuritySolutionsWatch.com: Thanks again for joining us today, Jim. Any other subjects you’d like to cover?

Jim Miller: Our vision includes additional innovative solutions for both the enterprise and consumers.  Everything that you might want to secure for the enterprise is a target for our GoVerifyID technology.  Security for consumers across the internet and with IoT are also prime candidates for innovation by ImageWare.  We’ve been thinking about the ubiquitous use of biometrics and working with them for over two decades and are putting those decades of experience to work to build world class products that are valuable and frictionless.  We look forward to Securing The Future.  Thank you for having me.