SHELTON, CT--(Marketwired - Nov 4, 2013) - NXT-ID, Inc. (OTCQB: NXTD), a biometrics company focused on the growing mobile commerce market, announced today that it has successfully developed its Voicematch™ algorithm for mobile platforms. Originally scheduled for full release in Q3 2014, progress on the development of Voicematch™ Mobile App technology has exceeded original expectations, prompting NXT-ID to release the product earlier than anticipated.
Voicematch™ is a new method of recognizing both speakers and specific words providing innovative multi-factor recognition that is efficient enough to run on low-power devices.
"We are extremely excited to enable speaker recognition as a multi-factor authentication method for mobile and wearable devices, as speaking is a very natural way to be authenticated," says Gino Pereira, CEO of NXT-ID. "Apple has validated the use of biometrics on mobile platforms by the use of fingerprint scanners on its latest products. Voice authentication is the next step forward."
Voicematch™ is a key multi-factor biometric of NXT-ID's MobileBio™ mobile and wearable identity technologies that bring full control and protection of private data to authenticated users. It is multi-platform, meaning it will run on mobile platforms such as Android and iOS, as well as laptops and desktops. It will also be one of the multi-factor authentication methods for NXT-ID's ultra-low power electronic wallet -- the Wocket™.
"What's amazing is the accuracy that we are achieving with this new voice recognition algorithm with very low power requirements," says David Tunnell, CTO of NXT-ID. "The efficiencies of this product makes biometric authentication possible for a number of mobile and wearable applications where low-power is paramount."
The Company's target market includes smartphone manufacturers and app providers that use personal and sensitive information in their applications.
Details of this innovative technology are forthcoming via an imminent patent application.
About NXT- ID Inc. - Mobile Security for a Mobile World
NXT-ID, Inc.'s (OTCQB: NXTD) 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. NXT-ID's 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.