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Ultra-thin Flexion® Battery Powers OTP Authentication Cards for Hana Financial Group
Lakeland, Fla.—November 26, 2007—Solicore has entered into a significant purchase agreement with Identita Technologies Inc. to supply their paper-thin Flexion® batteries for use in Identita’s full range of powered cards, including display and acoustic driven OTP platforms. This alliance fuels Identita’s partnership with Hana Financial Group in South Korea to provide custom powered display cards to both employees and customers of Hana Bank, the premier subsidiary of Hana Financial Group.
Identita, the first company to market two-factor display cards and authentication systems in Asia for financial institutions was selected to provide Hana Bank with their OTP display card, a two-factor card featuring an onscreen password display which the user pairs with a memorized PIN. These cards, manufactured by Identita and powered by Solicore, help Hana comply with the Korean Financial Services Authority (FSA) mandate that requires all financial institutions to integrate powered card platforms into their secure transaction systems in an effort to improve regional and global security.
Identita utilizes its proprietary, patented low-temperature and low-pressure encapsulation process known as the Reaction Assisted Molded Process (RAMP) to create credit-card sized flexible cards that demand an equally thin, flexible battery. RAMP is used to securely integrate a mini-computer, microcircuit, Integrated Circuit, Radio Frequency antennae, or a Radio Frequency Identification element into a small form factor Smart Card or Smart Tag. “Solicore is a pioneer in products for embedded power solutions, making them an ideal partner for our powered card platforms. We selected Solicore primarily because their batteries were the best performers in our tests. Their compliance with ISO standards for thinness and flexibility, as well as their ability to provide customized service to meet our specific needs made it clear that they were the right partner for us to help fuel our growth in this lucrative market,” says Identita co-founder and CEO, Rocky Stefano. “Solicore has emerged as a global player in this industry, and we are pleased to be working with them to power our own innovative security solutions in Korea and around the world.” This partnership with Identita marks a further advance in Solicore’s penetration of the Asian marketplace. “In addition to our partnerships in Japan and China, the Korean market represents an enormous growth opportunity for us,” says David Corey, CEO at Solicore. “The Korean FSA’s information security mandate means every institution is looking for a partner to provide the kind of technology Solicore powers, and our pioneering positioning on this platform will give us a major competitive advantage in this rapidly expanding arena.”
Identita is the first company to provide time-based LED display cards as part of their complement of complete turn-key end-to-end security solutions. As a worldwide leader of embedded security solutions, Solicore’s Flexion battery portfolio powers many of the most advanced forms of OTP access and identity authentication platforms in use around the globe. For more information, or to view its full range of batteries and services, visit www.solicore.com.
About Solicore, Inc.
Solicore is a worldwide leader of embedded power solutions, offering its Flexion® product portfolio of advanced ultra-thin flexible lithium polymer batteries for powered cards, RFID and micro medical devices. Solicore’s advanced battery technology is ultra-thin, flexible, safe and environmentally friendly, and significantly enhances the capabilities of lithium-based batteries. For more information, visit www.solicore.com.
About Identita Technologies International SRL.
Identita provides unbreakable, turn-key identity authentication solutions to organizations requiring absolute customer identification. As the leader in powered card devices, Identita has mastered the art of design and development of secure electronic components.
Security, and in particular identity verification, is the foundation of virtually all personal transactions, from phone banking to Government service delivery. The inability to provide absolutely secure, irrefutable identification of individuals costs financial institutions billions of dollars annually, prevents innovative development of enterprise VoIP applications, and undermines the consumer confidence necessary for the widespread adoption of electronic commerce.
Identita’s solutions are not only extremely secure, but are also the most cost-effective identity authentication systems available and offer much higher levels of security. Identita’s solutions can be deployed rapidly across existing infrastructure and integrate seamlessly with existing security frameworks and protocols.
This press release contains forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" and similar words. Such forward-looking statements are subject to known and unknown risks, uncertainties or other factors that may cause Solicore, Inc's actual results to be materially different from historical results or any results expressed or implied by such forward-looking statements. Solicore, Inc. assumes no obligation to update any forward-looking statements to reflect events or circumstances arising after the date hereof. The potential risks and uncertainties which could cause actual growth and results to differ materially include but are not limited to, customer acceptance of the company's services, products and fee structures, the success of the company's brand development efforts, the volatile and competitive nature of the battery industry, and changes in domestic and international market conditions, and foreign exchange rates.
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