PROCOMP Inc. of Brazil Selects IAS's Leading State of The Art Fingerprint Technology For ATM and Other Banking Solutions
AMERICAN FORK, Utah, Jan. 9 /PRNewswire/ -- International Automated Systems (OTC Bulletin Boards: IAUS) (IAS), announces that Digital Systems Limited, IAS's International Licensee, has signed a major Original Equipment Manufacture (OEM) contract with PROCOMP Inc. of Brazil. A $200 million Company, PROCOMP is a leading International Corporation with over 200 employees supplying Brazilian banks with 53% of their automated installation base (with 300,000 items installed, ATMs etc.) and 60% of their terminals, in over 9,600 automated branches.
This OEM agreement establishes an initial 2 year term, renewable agreement for PROCOMP to manufacture, customize, sell, install-and service IAS's Automated Fingerprint Identification Machines (AFIM) to their current and future client base. PROCOMP will purchase state of the art fingerprint software for each AFIM unit installed exclusively through IAS. PROCOMP is presently enlarging new and established marketing bases in several Central and South American countries, expanding beyond the banking industry into government and other critical technological businesses.
PROCOMP provides high-volume services for over 79 customer banks, in over 2,300 municipalities. By far the largest country in South America with a population of approximately 200 million people, PROCOMP is perfectly situated to secure and maintain future applications for Brazil's growing biometric needs. This agreement supplies IAS with a major manufacturing source for its current and future customers.
PROCOMP's executive committee awarded the contract after extensive investigation of a number of major biometrics companies. PROCOMP's decision makers made a personal visit to IAS headquarters and examined first hand their patented (AFIM) fingerprint technology. "After a review of competitive products, our decision to award the contract was based not only on IAS's `best-of-brand' biometrics but also on the superiority of IAS's other patented technologies," said Erich Muschellack, Director, PROCOMP.
Millions of Brazil's citizens will be able to receive personalized identification on their ATM or other transaction cards secured and protected with their own unique fingerprint encoded directly on the card. For ATM transactions the person would insert their card, then verify their true identity by placing their finger on a small lens located on the ATM. A comparison is then made between the print an their card and the live print just scanned. If this one-to-one ID verification procedure proves positive, the person is then allowed to make withdrawals, deposits, payments, receive payroll, pay bills, etc.
PROCOMP is dedicated to a tri-fold business focus of Maintenance and Installations, Software and Services and Manufacturing. Operating its main manufacturing plant of over 30,000 sq.\ft. in Manuas, PROCOMP can now safely secure the identity of hundreds of thousands of their banking and retail clients ATM and financial transactions using IAS's patented fingerprint technology. This means revenues for IAS via AFIM software sales in PROCOMP's vast, expanding markets in Brazil and other countries. Future applications to take advantage of this OEM are already on the drawing board. SOURCE International Automated Systems Thursday January 9 7:01 AM EDT