Aware and Finema Announce Partnership to Promote Biometrics-Based Digital Identity Offering Across Asia-Pacific

Enterprises, Financial Institutions and Government Agencies Will Build Greater End-User Trust in the Digital Realm

BURLINGTON, MASS. – November 13, 2024 – As the digital economy continues to reshape how users interact with technology, ease and convenience have brought new opportunities—and new challenges. However, along with the increase of new digital channels comes growing apprehension, particularly regarding identity theft and fraud. In fact, 25 percent of Thais cite identity theft as their top financial crime concern.

To help ease these concerns, Finema, a leading Thailand-based decentralized digital identity solutions provider, is teaming up with Aware, Inc. (NASDAQ: AWRE), a leader in biometric authentication, to consolidate and promote a biometrics-based digital identity offering across Thailand and greater Asia. Specifically, the two companies will enable a multifactor authentication solution for mobile app developers to bring to enterprises, financial institutions, and government agencies across the Asia-Pacific region, leveraging Finema’s digital identity infrastructure.

Finema’s enterprise decentralized identity approach is easily interoperable with multiple Aware biometric modalities, including face, voice, and fingerprint recognition. With the added layer of liveness detection, biometric authentication becomes nearly impossible to bypass and can be paired with methods like password authentication for even stronger protection.

For years, both Aware and Finema have been providing elements of their global digital identity expertise to the Asia-Pacific market already. “By joining forces, Aware and Finema will create a more streamlined and efficient approach, providing next-gen digital identity solutions that incorporate biometrics to empower enterprises and governments across the Asia-Pacific region,” says Pakorn Leesakul, CEO & Founder, Finema.

“We are tremendously excited to be partnering with Finema to bring the power of biometrics to their cutting edge, decentralized digital identity platform,” says Todd Jarvis, Global Head of Partnerships at Aware. “With 33% of Thai companies affected by fraud and other economic crimes in the past two years, we’re confident that this significant move to biometric authentication is just the start of a more secure, future-ready foundation for digital societies throughout the entire region.”

About Aware

Aware is a global biometric platform company that uses data science, machine learning, and artificial intelligence to tackle everyday business and identity challenges through biometrics. For over 30 years we’ve been a trusted name in the field. Aware’s offerings address the growing challenges that government and commercial enterprises face in knowing, authenticating and securing individuals through frictionless and highly secure user experiences. Our algorithms are based on diverse operational data sets from around the world, and we prioritize making biometric technology in an ethical and responsible manner. Aware is a publicly held company (NASDAQ: AWRE) based in Burlington, Massachusetts. To learn more, visit our website or follow us on LinkedIn and X.

About Finema

Finema is a pioneering force in Southeast Asia, revolutionizing digital identity solutions. Our cutting-edge technology empowers enterprises and governments with next-gen digital identity platforms seamlessly integrating with existing systems, ensuring rapid adoption and competitive advantages. Our product suite includes eKYC/eKYB onboarding with AI/ML verification, a secure digital signature platform using PKI technology, and a Decentralized Identity platform for trusted digital services. Finema’s mission is to disrupt and secure the digital identity industry, granting individuals control over their digital identities. To learn more, visit our website or follow us on LinkedIn.

Safe Harbor Warning

Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as our expectations regarding our new product. Aware wishes to caution you that there are factors that could cause actual results to differ materially from the results indicated by such statements, including the risks that i) a significant commercial market for biometrics technology may not develop, and if it does, we may not be successful in that market; ii) the biometrics market may not experience significant growth or our products may not achieve broad acceptance; iii) we face intense competition from other biometrics solution providers; iv) our business is subject to rapid technological change; v) our software products may have errors, defects or bugs which could harm our business; vi) part of our future business is dependent on market demand for, and acceptance of, the cloud-based model for the use of software; and vii) we derive a significant portion of our revenue from third party channel partners.  We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our annual report on Form 10-K for the fiscal year ended December 31, 2023, and other reports and filings made with the Securities and Exchange Commission.

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CONTACT

Delaney Gembis
Aware, Inc.
781-687-0393
marketing@aware.com