Breaking Tech News: NXT-ID (NASDAQ: NXTD) Joins FIDO Alliance as a Sponsor Member
SHELTON, Conn. - November 5, 2014 (Investorideas.com Newswire) NXT-ID, Inc., (NASDAQ: NXTD), a biometric authentication company focused on the growing mobile commerce, is pleased to announce that it has joined the FIDO Alliance as a Sponsor member.
The FIDO (Fast IDentity Online) Alliance (http://www.fidoalliance.org/) is an industry consortium revolutionizing online authentication with the first standards for strong authentication. FIDO Alliance members commit to share technology and collaborate to deliver open specifications for universal strong authentication that enable FIDO-compliant authentication methods to be interoperable, more secure and private, and easier-to-use.
FIDO specifications will support a full range of authentication technologies, including biometrics such as fingerprint, eye and iris scanners, voice and facial recognition, as well as further enabling existing solutions and communications standards, such as Trusted Platform Modules (TPM), USB Security Tokens, embedded Secure Elements (eSE), Smart Cards, Bluetooth Low Energy (BLE), and Near Field Communication (NFC). The open specifications are being designed to be extensible and to accommodate future innovation, as well as protect existing investments. FIDO specifications allow the interaction of technologies within an interoperable infrastructure, enabling authentication choice to meet the distinct needs of users and organizations.
"Nxt-ID is very enthusiastic about joining FIDO Alliance and contributing to the future of online authentication with our core competencies in biometrics and encryption," said Gino Pereira, CEO of Nxt-ID, Inc. "Security does not have to be inconvenient, and this is the cornerstone upon which NXT-ID and Wocket™ are founded."
Wocket™ is a smart wallet, the next evolution in smart devices, following the smart phone and smart watch. Wocket is a next generation smart wallet designed to protect your identity and replace all the cards in your wallet, with no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval.
Credit, debit, ATM, loyalty, gift, ID, membership, insurance, ticket, emergency, medical, business, contacts, coupon, and virtually any card can be protected on Wocket. More than 10,000 cards, records, coupons, etc. can also be stored on Wocket.
About The FIDO Alliance
The FIDO (Fast IDentity Online) Alliance, www.fidoalliance.org, was formed in July 2012 to address the lack of interoperability among strong authentication technologies, and remedy the problems users face with creating and remembering multiple usernames and passwords. The Alliance plans to change the nature of authentication by developing standards-based specifications for simpler, stronger authentication that define an open, scalable, interoperable set of mechanisms that reduce reliance on passwords. FIDO authentication is stronger, private, and easier to use when authenticating to online services.
The FIDO Alliance Board of Directors includes leading global organizations: Alibaba Holdings (NYSE: BABA); ARM Holdings plc (LSE: ARM) (NASDAQ: ARMH); Bank of America Corporation (NYSE: BAC); BlackBerry®; CrucialTec (KRX:114120); Discover Financial Services (NYSE: DFS); Google; IdentityX; Lenovo; MasterCard (NYSE: MA); Microsoft (NASDAQ: MSFT); Nok Nok Labs, Inc.; NXP Semiconductors N.V. (NASDAQ: NXPI); Oberthur Technologies OT; PayPal (NASDAQ: EBAY); Qualcomm, Inc. (NASDAQ: QCOM); RSA®; Samsung Electronics, Ltd (KOSCOM:SECL); Synaptics (NASDAQ: SYNA); Visa Inc. (NYSE: V); Yubico.
About NXT- ID Inc. - Mobile Security for a Mobile World
NXT-ID, Inc.'s innovative MobileBio® solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio® suite of biometric solutions that secure consumers' mobile platforms led by the Wocket™ ; a next generation smart wallet designed to replace all the cards in your wallet, no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval. www.wocketwallet.com.
NXT-ID' wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification has 22 licensed patents in the field of 3D facial recognition http://www.nxt-id.com, http://3d-id.net.
Forward-Looking Statements for NXT-ID: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
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