User authentication is ubiquitous, be it to authorize transactions, to log in to online services, or access work places. Multi-factor authentication increases security enormously but is often disregarded because it is seen as not user-friendly. oculid therefore develops a biometric system that assesses multiple factors in just one step, combining security and user-friendliness. Furthermore, it is a cooperative method, i.e. it cannot be used to track individuals without their consent.
oculid’s biometric is based on individual static and dynamic characteristics of eye movements. These cannot be imitated by others or mechanical replicas. Combined with a second factor, e.g. another biometric or a personal code that is entered via oculid´s proprietary gaze based interaction design, the system allows for secure authentication.
oculid targets authentication for digital payments, i.e. online banking and fintech apps. Mobile biometric authentication is projected to generate ~ 33 billion US$ annually by 2020, with a total transaction volume of 8.9 trillion $US.
In the short term, revenue is generated through pilot customer projects. Ultimately, the focus will be on B2B sales of pay-per-use licenses for digital payment services via an end-to-end authentication platform.