TO ALL:
Few key points from Russ Hutchinson presentation at the Automated Imaging Association Conference on February 12, 1999 in Orlando, Florida:
Fingerprint is 78% of the Global Biometric Market
Mytec is in the "One-on-One" Market (Network Access Security - Physical Access Control - Time & Attendance)
Mytec key market: Network Access Security:
Large Organizations: Financial Institutes - Telecommunications - Government Organizations planning to install or have installed encryption software or single sign-on software
World Market Potential: estimated at $ 250,000,000
Cost of "trusted device" Touchstone $ 250 - Newer version high volume plastics $ 20-25
Russ Conclusions:
Market is slower to develop than expected
Biometrics awareness increased drastically in 1998 compared to previous years
Price of fingerprint readers has lowered substantially in recent years
Organizations concerned with network security are beginning to recognize biometrics as a solution:
Corporations and Government organizations link their networks to public networks creating exposure to unauthorized access and hackers
Single sign-on provides convenience at increased security risk.
I expressed to Russ our concern for lack of results and of information from Mytec and suggested that monthly newsletters be posted on MYT website, within the framework of Exchange rules. Next Press Release, expected for early May, or before, should have positive development news.
I travelled to Orlando to meet Russ personally and I was favorably impressed. I can now look to the future with increased confidence in MYT. I would encourage all of you to attend MYT presentations, conferences, exhibitions, functions, whenever possible and convenient, and report to this group in an objective manner.
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