Innovatrics relocates HQ, Eternal expands amid strong biometrics business prospects
Multimodal biometrics solution provider Innovatrics is moving its headquarters to a new location in the Slovakian capital Bratislava to provide a comfortable working space for its 190 staff, a number up by 20 percent within just one year. It will occupy two floors on the Lakeside Park 2 building.
Finger vein authentication firm Eternal has also announced the signing of a memorandum of understanding (MoU), which expands its headquarters to the Korean city of Busan, and a partnership with the city council to strengthen security.
The news comes as both companies are growing their biometrics business footprints on different continents.
According to Innovatrics, the relocation of its headquarters is one in a series of global expansion moves, which has also seen the company’s research and development team of 20 people move to a new office to enable the development of biometrics and other algorithm-based solutions.
“We want to give our people quality space for relaxation and working on innovative technologies. The ecological responsibility is equally important for us,” says Barbora Horvat, CFO and COO of Innovatrics.
The opening of an Innovatrics U.S. office in Washington D.C in early September, along with sales representations in India, Taiwan, and Singapore will allow it to better serve the markets in these countries, states the company in an announcement.
Mention is also made of the Brazilian branch of Innovatrics, which has been operational since last September and has experts in biometrics working from São Paulo who hope to help the country make the most of the growing interest and quest for biometrics technologies by governments and businesses.
Korea’s Busan city to host Eternal expanded HQ
Meanwhile, city officials of Busan, Korea’s second biggest city, have concluded a MoU with Eternal for a finger vein biometric authentication solution (Vein-X Solution) as a part of efforts to strengthen security in the city.
The MoU, which also involves hosting the company’s expanded headquarters, was signed between Busan city mayor Park Hyung-Joon and Eternal CEO Cho Woo-yeol during the ‘Blockchain Week in Busan (BWB) 2022’ event, StreetInsider reports.
“As Busan city’s aim is to become a Smart City, ‘security’ is an important issue that cannot be separated from the city of Busan. It is expected that the MOU agreement with Eternal will solve many of our challenges,” says the Busan city mayor.
“We ask for your participation in making stronger security for energy facilities, public safety, public data, education facilities and other public institutions that make up a city.”
The executive also highlighted the symbolism behind the relocation and expansion of Eternal’s headquarters.
“It is symbolic that Eternal, which has digital finger vein authentication technology recognized as a patent in the United States, Europe, Japan, and Korea, is coming to Busan with their technology in terms of symbolism and it is very meaningful in terms of revitalizing the local economy,” Hyung-Joon adds.
Eternal CEO, for his part, emphasized the importance of finger vein authentication for security: “One in 5,000 people has a similar pattern. In addition, differentiation is possible only as an adult. However, finger veins are different from birth, so it is best for maintaining security,” the biometrics expert says.
“Unlike fingerprint and iris recognition, finger vein authentication is easy and convenient because authentication is completed in one second. Also, since the finger vein pattern does not change throughout life, there is no possibility of forgery, copying, theft, and hacking.”
