Totm Forms Joint Venture With UAE-Based Partner To Meet Demand For Offline Biometric Authentication

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Totm Technologies has signed a ‘Strategic Team Agreement’ with a UAE-based big data and artificial intelligence provider Presight.AI to form a joint venture focused on delivering high-performance biometrics and AI capabilities to partners and customers in the Middle East, Africa (MENA) and Southeast Asia.

Presight is part of the G42 Group, an artificial intelligence and cloud computing provider headquartered in Abu Dhabi.

The companies will develop and deploy their combined proprietary technologies to support the region’s public safety, healthcare and fintech organizations as they deploy biometric solutions as part of digital transformation.

Totm and Presight will work together on hardwareless digital KYC authentication solutions, offline and contactless biometric authentication frameworks, real-time liveness detection and age rating.

Asked about the place of mobile in joint offer projects, Pierre Prunier, CEO of Totm, explained to Biometric update in an email, “Ultimately, to achieve the digital transformation of an economy or a business model, it is imperative to consider the enormous potential that mobile phones play in the framework.”

“It’s one of the potential channels we’re working towards, but it very much depends on the stakeholders on the ground and their goals,” he adds.

Prunier also stated that “Although Presight is new, its capabilities and achievements in cloud services and big data analytics are unparalleled in the region. As a partner, we will gain access to new markets and have the potential to enhance any digital ID program.”

The announcement notes that market forecasts have pegged the automatic identification and data capture market at $100 billion, and that demand for regulatory technology is growing rapidly.

“We are delighted to partner with Presight.AI to jointly develop new business opportunities in Southeast Asia, the Middle East and Africa,” Prunier said in the announcement. “We see these markets as a complex and multi-faceted sandbox, providing unique opportunities for both companies to identify and curate suitable digital ID, biometric AI and big data analytics solutions, particularly in the fields of public safety, health and fintech. We look forward to combining our unique expertise and strengths to deliver these high-performance biometric AI solutions to our customers. »

“A robust and dynamic digital identity platform is an essential cornerstone for building a stronger and more inclusive, secure and resilient digital society. TOTM has a deep appreciation of our value proposition and adds strong execution experience and robust technology platforms for identity management and biometrics. We look forward to our future partnership,” says Thomas Pramotedham, CEO of Presight.

According to an early 2022 earnings report, biometrics and identity management accounted for up to 80% of Totm’s rapidly growing overall revenue.

Article topics

Africa | biometrics | digital identity | Middle East | Southeast Asia | Totm Technologies

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