Arab National Bank Selects Bioscrypt Readers

    March 16, 2005
    V-Prox readers will be used for access control, identity verification at bank's headquarters

    Source Canadian Press via Associated Press

    TORONTO (CP) - The Arab National Bank of Saudi Arabia has chosen Bioscrypt Inc.'s finger scan readers to supplement and strengthen the security of its headquarters and offices, the identity verification technology firm said Tuesday.

    Bioscrypt's V-Prox reader scans and records fingerprints for identity verification.

    Terms of the deal were not released.

    ''Adding Bioscrypt's biometric access control reader to our security solution elevates the level of protection we offer as it ensures that only the right people can access restricted areas.'' Nemeh Sabbagh, chief executive officer of Arab National Bank said in a release.

    The bank selected the Bioscrypt readers after a two-year search for a kingdom-wide security system incorporating integrated biometric time and attendance with an electronic access control system.

    Shares in Bioscrypt (TSX:BYT) rose two cents to close at $2.07 in Tuesday trading on the Toronto Stock Exchange.