Bionex, Inc., a biometric security firm, provides solutions to credit fraud and identity theft. Bionex, Inc. differentiates itself by using our (patent pending) Exigency Process. This method uses a unique algorithm to process and express the details of a finger, instead of matching it with a stored image in an existing database. 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 facilitate secure virtual transactions by integrating biometric security into existing systems.
Our technology has a huge market potential and is expected to continue growing rapidly. The biometric identification market is projected to exceed $4.04 billion within two years for several reasons. Over $47 billion was spent last year by the banks and government on credit and identity theft. Biometric devices will be more needed in the Healthcare and Transportation industries due to new legislation and security concerns that are being attributed to terrorists. Bionex will offer a range of biometric options to enhance our Exigency Process and increase biometric security and accuracy in any environment.
Biometric access Corporation (BAC), Bio Pay Identix Pay by Touch and Touch Credit are potential rivals. Infineon, Bioconx, and Infineon were recent ex-competitors in this market. Their failures were mainly due to their dependence on the image enrollment systems. Bionex, Inc. holds several key competitive advantages, including:
- Our solutions do not require any system or application modifications, and can be seamlessly integrated into any existing platform.
- Our products protect user privacy and eliminate the need for a government or corporate-based database system.
- Our technology can integrate 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 get positive national exposure through Wired Magazine and Business Week Magazine. We also receive positive national system reviews from ZDNET, CNET, as well ZDNET and CNET. Bionex seeks to attract bank and financial licensing agreements by providing complimentary testing, upgrades and the POS system. Bionex has valuable connections with J&R Computer, BestBuy, CompUSA, and J&R Computer to help it initiate retail distribution agreements.
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. Finance Major, who is highly experienced in the financial and biometric services sectors, runs our company. He is a proven entrepreneur. He is joined by a team comprised of veterans from almost all areas of technology and financial.
The company is expecting to see huge sales and a big net profit in year 3. Bionex anticipates quadrupling sales and hugex4 in revenue for year five. Bionex is likely to be profitable in year one, assuming there are no problems regarding credit card licensing agreements and retail distribution contract.
Bionex Inc. will be able to make, before plan, capital investments over the next six months in order to achieve operational improvements that scale to support expected growth.
1.1 Mission
Bionex, Inc. focuses on providing our customers with exceptional security and reliability. The following are three areas that our security solutions cover in 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 – Our Exigency Process converts fingerprints into complex mathematical algorithms which exist only for fractions of a second.
- Flexibility We have solutions that can work over any combination of network and system infrastructures. This allows seamless integration with existing systems.
Success keys 1.2
- All patent applications complete and approved.
- Obtain initial private investment capital to fully fund start up development and prototype manufacture.
- For a financial institution, government branch or other organization, you can receive an implementation contract.
1.3 Objectives
- Receive capital injections within the first year.
- Huge sales in the third year.
- BioXert verification system widely used transactional tokens by the year five.
- To make the BioVert device the number one selling biometric device by year five.
- To expand internationally, license and distribute products and services worldwide by year six.
