Written by IT News on 5:29 PM
By: Ionut Arghire, Windows Editor
On Monday, Hitachi announced he had bought a majority interest in the shares of M-Tech Information Technology, password management software vendor, the idea of expanding its own line of products for identity management. Hitachi has already played an important role in the management of ID market. The authenticity of goods sold by the company, based on the identification of patterns of veins in a user's finger.
Hitachi said in a statement issued on Monday that Japanese financial institutions are already using finger-vein authentication system aimed at the company, massive proportion. There are about 80 per cent of agencies with the use of technology "Hitachi" of the total number of institutions that use their automated teller machines biometric log-on systems. In the same statement, Hitachi also said that the company intends to use M-Tech software in a "joint proposals and other initiatives with Hitachi's biometric, RFID (Radio Frequency Identification), smart cards and other security-related technologies."
M-Tech products are expected to help Hitachi in its plans to expand its own product line. The company hopes that the M-Tech will provide new software that the company can use to support management functions on the back end. Applications are created and sold M-Tech is X-Synch and ID-Synch. These statements are designed to help clients create a new user, as well as management of passwords on the network. There are more than 700 companies worldwide that use M-Tech products, including Barclays Bank, Shinsei Bank and "Sirs, Roebuck.
M-Tech Information Technology was established in 1992 and has its base in Calgary, Alberta, Canada.
Hitachi has made no statement to date in regard to the financial terms of the transaction. Shortly after the operation, 140 people, the company has been renamed Hitachi, now called "Hitachi ID system.
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