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Technology Stocks : On Track Innovations Ltd. (OTIV)

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From: JakeStraw	2/2/2012 8:43:24 AM
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OTI Receives an Initial $6.9 Million Contract to Supply Electronic Immigration Control System in Panama finance.yahoo.com Contract is OTI's First in Panama and Builds Upon its Existing Secure ID Footprint in Latin America The contract provides for the supply of OTI's end-to-end turnkey immigration solution, based on its proprietary state-of-the-art, field-proven eID Magna(TM) platform. The solution includes data enrollment and issuing stations, as well as individual means to verify identity tied to Biometric Automatic Fingerprint Identification System (AFIS), allowing for better control at border points and increased efficiencies. Oded Bashan, Chairman and CEO of OTI, stated, ""OTI's secure ID offerings provide a cost effective, secure and timely to-market solution that leverages and interfaces with legacy systems and records." Mr. Bashan continued: "We are happy to expand our footprint in Latin America to support Panama's efforts to improve identity verification at their borders. By deploying our solution, Panama is taking firm control of immigration security and identity to diminish the substantial risks and costs of illegal immigration and identity theft."

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