Under a new strategic partnership, EyeLock Inc. and Stanley Security Solutions (SSS) will work to further commercialize EyeLock’s iris-biometric offerings.
EyeLock’s scalable and cost-effective iris-based authentication solutions will enable SSS to bolster its global distribution and growth across several key vertical markets, with a focus on financial services, banking, healthcare, industrial, education and government sectors. EyeLock’s access control solutions are used in a number of markets to reduce identity-related breaches and fraud by securely and accurately matching people with the unique biometric markers associated with their iris.
The partnership gives SSS exclusive rights to distribute EyeLock’s proprietary technology, products and solutions in the United States, Canada and Europe. The technology also will be made available to a broader commercial market through a newly formed EyeLock Certified Dealer Program, which will expand SSS’s global reach and contribute to its growth strategy, the companies said.
For EyeLock’s part, the partnership will provide the company with the financial and operational flexibility to expand its portfolio and focus on developing applications for the mobile, cyber and logical access markets.
“EyeLock has invested in substantial development efforts over years to perfect an iris-authentication system that is easy to use, effective and commercially attractive. This technology will help companies address issues that have been plaguing them for years, namely, that millions of dollars are lost annually to security breaches, identity theft and fraud,” said Jim Demitrieus, CEO of EyeLock. “SSS understands the game-changing impact that adoption of our technology will have for companies in the U.S. and abroad. We look forward to this partnership, which will significantly expand the reach, distribution and deployment of our technology, and also allow us to focus on future applications for EyeLock’s identity authentication solutions. With this partnership, SSS and EyeLock are well-positioned to lead the industry and change the way identity management and access control needs are served.”
“Stanley’s partnership with EyeLock exemplifies our commitment to identifying, developing and marketing innovative and revolutionary technologies in the security industry,” stated Brett Bontrager, senior vice president and group executive at Stanley Security Solutions. “We believe the EyeLock technology is the most fundamental change in access control since the creation of the lock and key. For more than 150 years, Stanley has been focused on bringing the most innovative technologies to the commercial, industrial, government, education and healthcare markets. Thanks to this partnership, our current and future clients will immediately start to realize the benefits of this iris-based technology.”