VoiceTrust and USoft merge to form BioTrust, a leading player in the global biometrics market
- New company couples extensive biometrics IP with mature business application development expertise
- Poised to expand penetration in $67 billion market (2024)
- Solid and extensive financial backing with €80M already invested
- Clients include DHL, ITV and leading global financials and healthcare players covering 1.5 million users
BioTrust is a new entity formed by biometric technology experts VoiceTrust and business application development specialists USoft.
BioTrust offers multi-modal biometric authentication technology, which uses a combination of personal information and physical properties such as voice patterns or facial features to authenticate users. Such advanced security technology has demand in travel, healthcare, finance, government and a host of other sectors.
BioTrust – ‘We believe in a secure and convenient world without passwords.’
Biometrics market set to boom
BioTrust operates in a fast-growing marketplace. Analysts predict a 100% increase in spend on biometric authentication within in the next three years, driven by:
- rising concerns about identity fraud
- increased consumer acceptance of and familiarity with biometric solutions
- understanding within organisations of the value of voice and facial authentication that is integrated seamlessly into existing password and token/device-based systems
BioTrust positioned to win
BioTrust addresses all major authentication trends by lowering costs, improving security and user convenience and integrating existing cloud-based solutions.
“This merger brings together over 25 years of experience in 10 offices, four research and development locations on five continents,” says Patrick Dekker, CEO of BioTrust.
“By matching VoiceTrust’s world class biometrics expertise with USoft’s multi-sector business application experience, we are uniquely positioned to serve increased demand in authentication solutions. We will grow our footprint through an ambitious buy-and-build strategy, which combines organic growth with acquisitions that will bring additional best-in-class IP, further strengthen our solutions in the finance, healthcare, travel and government sectors and drive increased overall revenue.”
Significant current market footprint
With more than 1.5 million users in employee- and customer-facing authentication applications at government entities and some of the world’s leading companies in banking and financial services, logistics (DHL), media (ITV) and healthcare, BioTrust is currently a leading player in the global market for biometrics solutions. Its technologies include voice and face recognition for caller authentication, account recovery and self-service applications and its proprietary Proof-of-Life™ solution, used to validate pension payments.
Financed for growth
BioTrust enjoys solid financial backing. Ramphastos Investments, the investment vehicle of Dutch entrepreneur Marcel Boekhoorn, accounts for the majority of the 80 million euros currently invested in BioTrust. BioTrust matches the profile of the companies in which the entrepreneur has expressed interest. Mr. Boekhoorn seeks to invest in innovative companies with a unique market position and global growth potential – companies that owe their existence to a strong underlying trend.
Extensive research and development
In addition to leveraging in-house research assets, BioTrust collaborates with leading international research partners such as CRIM, the Computer Research Institute of Montreal, Canada.
With development centres in the Netherlands, Germany, UAE and Serbia, BioTrust has an extensive product pipeline, including a complete product suite that leverages the strengths of the merged companies’ combined IP.
About the pre-merger companies
VoiceTrust is a global leader in biometric voice technology and owns patents for text dependent and text independent voice biometrics software, including a text authentication engine which sets the benchmark for this field. It owns 85 key industry patents. VoiceTrust is fully owned by Ramphastos Investments.
USoft is a fast-growing Netherlands-based software provider specialising in the development of business application solutions across a broad range of sectors from finance to healthcare to travel and transportation and more. Established in 1986, USoft specialises in the design, development and deployment of software solutions that drive value by bridging the gap between technology and the business.