WA-based SAFLINK Corporation has been selected to participate in the second component of the Department of Defense “Common Access Card” project to develop and evaluate biometric technical demonstration scenarios that will assist the DoD in developing applications using a biometric template stored on the “CAC”. The total expected value of the award to SAFLINK for the development and delivery of biometric security software is approximately $108,000.
Thales e-Security’s “AssureTransaction” has been selected as the authentication middleware product to authenticate users and verify digital signatures in the NewBACS program. More than 100,000 UK businesses regularly make or receive payments through the BACS clearing system, which processed 3.5 billion payments in 2001, with over 60 million on a peak day. Earlier this year, BACS announced the Â£75m NewBACS upgrade program, introducing Web technology and a multi-layer security platform to meet the growing demand for efficient, online payment services. “AssureTransaction” will provide real-time verification of the PKI smart card identities, issued to users by the UK banks, and check the digital signatures on all payment files submitted to BACS. BACS’ business includes EFT processing of DirectDebit, DirectCredit, Standing Order, information advices and the management of inter-bank network services. Over 40,000 companies are currently registered users of the BACS service.
Montreal-based SureFire Commerce has signed a merger agreement with privately-held Munich, Germany-based Electronic Billing Systems AG. Initially, SureFire will acquire 51% of EBS in exchange for approximately 28 million newly issued shares of SureFire, representing approximately 21% of SureFire. It is contemplated that upon completion of the transaction, SureFire will acquire 100% of EBS in exchange for common shares of SureFire representing approximately 63% of the common shares of SureFire Commerce on a fully diluted basis. Based on current run rates, SureFire expects the combined entity will generate approximately $90 million dollars in revenue, with operating profit before minority interests of more than $15 million dollars in the first year. The deal is expected to close in early January.
Fair, Isaac has announced a new program whereby, for the first time, consumers engaged in credit counseling will benefit directly from the actionable power of FICO scores. FI has teamed with nonprofit Consumer Credit Counseling Service of Santa Clara & Ventura Counties. The nonprofit agency also will offer its Web visitors online access to FICO-powered products and services. CCCS’s Web site, www.gotdebt.org, offers consumers their current FICO score online along with the underlying Equifax credit report. An accompanying personalized explanation of their score includes suggestions for improving their score over time. Additional features help customers explore the possible score impact of various credit actions they might take, and tell visitors what interest rates lenders are offering based on FICO scores for 12 different types of mortgage and auto loans. Fair Isaac did not indicate if other deals are in the works.