HANGZHOU, China -- Spreadtrum Communications ("Spreadtrum") enters a strategic cooperation with Internet Finance Authentication Alliance (IFAA) to jointly promote the framework and development of an iris-based payment authentication system in China. IFAA was launched by a group of firms and institutions including Ant Financial, Alibaba, Samsung, Huawei, ZTE and CAICT (China Academy of Information and Communications Technology). The alliance is very influential in the domain of authentication in China, with their local standard having already been applied to over 90 million mobile phone devices and facial recognition standard having served over 60 million users.
With the continued rapid development of mobile internet, the importance of the security of smartphones has become ever more urgent. Conventional simplex authentication products fail to meet the pressing demand among consumers for the securing of their personal information and financial transactions. As the most stable, most accurate and safest biological recognition technology available to date, iris recognition is the best next step in terms of upgrading the present security recognition system. Spreadtrum started the research into iris-based recognition technology as early as 2015 and has launched an iris-based support for authentication, ZitanTM Security Solutions, providing a high-functioning fully dynamic encryption for iris-based data protection and authentication services.
As part of the strategic cooperation, Spreadtrum will join hands with the IFAA to collaborate closely in the area of iris-based recognition and authentication services with special focus on the chips, the system, the software and the operation, while, at the same time, facilitating the standardization of the industry as concerns chip security, environmental reliability, data collection, the algorithm, encryption keys and iris-based authentication in a move to enhance the end-user experience with the authentication process while guaranteeing the security of end-user private information and exchanges of information.