Bionex, Inc. provides biometric security solutions for Identity Theft, Credit Fraud and other issues. Bionex, Inc. uses our patent pending Exigency Process to differentiate itself. This method works by processing and expressing the details of an individual’s finger using a unique algorithm rather than matching them against a previously stored image. This process will eliminate storage of millions of individual fingerprints on databases, lower operating costs, and maximize efficiency across the entire system. Our process will enable secure virtual transactions and seamless integration of biometric security in existing systems.
Our technology has a huge market potential and is expected to continue growing rapidly. For several reasons, the market for biometric identification is expected to surpass $4.04 billion in two years. Credit and identity fraud cost banks and government over $47 billion last year alone. A new law in the health sector and increased security concerns related to terrorism will also increase the need for biometric equipment in the Transportation and Healthcare sectors. Bionex has several biometric products that can be used to supplement our Exigency Process. These solutions will facilitate biometric accuracy as well as security in any environment.
Potential competitors include the Biometric Access Corporation (BAC), Bio Pay, Identix, Pay by Touch and Touch Credit. Recent exits from this market include Bioconx and Infineon which failed largely due to over-reliance on the image enrollment system. Bionex, Inc. has several competitive advantages over its competitors, including:
- Our solutions are not application- or system-intrusive, meaning our products can seamlessly integrate into any existing platform.
- Our products provide privacy protection and eliminate the need for corporate-based databases.
- Our technology is a licensable design that can be integrated into OEM systems and products.
The marketing plan for Bionex is designed to attract new customers and capture new markets. Through strategic contacts, we will gain positive national exposure in Wired and Business Week Magazine, and positive national systems reviews from ZDNET, and CNET. Bionex will attract financial licensing and banking contracts through complimentary testing, upgrades, POS systems and other services. Bionex will begin retail distribution contracts with CompUSA (BestBuy), J&R Computer and J&R Computer.
Our management team has extensive experience with technology development, marketing, finance, and customer service. Senior executives are experts in fraud control, transaction handling, and POS payments systems. Our company is run by a Finance Major well-experienced in the biometric and financial services sectors. He is an entrepreneur with a track record and is supported by a team that includes veterans from almost every field of the technology and financial service sectors.
The company is expecting to see huge sales and a big net profit in year 3. Bionex plans to quadruple its sales and reach hugex4 revenue in year five. This company is potentially profitable in year one assuming no problems with credit card licensing agreements and retail distribution contracts.
A capital investment in the next six month period would enable Bionex Inc. to make, ahead of plan, operational improvements to scale for expected growth.
1.1 Mission
Bionex, Inc.’s main goal is to provide our customers and business partners unparalleled security and reliability. Three areas are the most important for data security.
- Protection Bionex’s security systems only allow users to be identified by their fingerprints alone. Our Exigency Process prevents data loss or theft.
- Privacy The Exigency Processing converts fingerprints in complex mathematical algorithms, which are only available for fractions seconds.
- Flexibility All of our solutions can operate on any mix network and system infrastructures.
1.2 Keys for Success
- All patent applications complete and approved.
- To fully finance start-up development and prototype manufacturing, you will need to raise initial private capital.
- You can get an implementation contract from a financial institution.
1.3 Objectives
- Receive capital injection during the first year.
- Generate huge sales by third year of operation.
- To make BioXert verification systems widely used transactional tokens by year five.
- To make BioVert by year five the best-selling biometric device.
- To expand internationally, licensing and distributing products and solutions worldwide by year six.